Always focus on doing the right things with honesty, empathy and purpose.

<Video title: Navigating Difficult Conversations: An Advisor’s Strategies for Addressing Death, Succession, Illness, and End-of-Life Care>

Q: Can you share your experience where you had to initiate a difficult conversation with a client regarding end-of-life planning?

End of life planning shouldn't begin at the end, right? It should be part of the financial planning journey at the very beginning from the start. Major illness and disability often trigger it.

But the truth is timing and audience matters. Clients aged between 40 to 55, are more open and they are more approachable. Especially because when their parents and their peers go through the difficult end of life experiences, they will listen to you not out of fear but out of understanding. Am I right?

One case I still remember deep in my heart was a gentleman in his early 50s. He wanted to get a life insurance up to RM200,000 for his family as a legacy. I still remember the conversation was so touching and very difficult. The message he gave was very clear. I want to go with dignity but disruption. So, at the end, we structured the plan accordingly, making sure it reflected the love and responsibility he wanted.

As we can see, the whole process wasn't just a policy. It was a peace of mind for him and one day for his children and family.

Q: How do you guide discussions with family on end-of-life/inheritance planning, and to ensure conflict is kept to a minimum?

When wife and children are involved in the end-of-life or inheritance discussion, our role is to create a calm, open and respectful environment. I still recall a case. Mr A, who's seriously ill, brought together his family together. He explained his will was in place and his insurance would cover all his final expenses and the balance would be distributed accordingly to his beneficiary.

Because everything was clearly planned, the conversation ended up peacefully. Disagreement usually happens when things are unclear. That's why having a proper will, valid insurance nomination, valid EPF nomination in Malaysia is important. It does clear the path and provide peace of mind when it matters most.

Q: Most people delay talking about topics like critical illness, death or palliative care. How do you help clients understand why it’s important to plan early for these life events?

I believe in our life as MDRT people, we're likely to touch more life than most people will. That's why instead of seeing them delaying, I believe we should reframe it with urgency.

It is not about avoidance, it's about lack of awareness and understanding. So when I speak with clients, I use tools, tools like static pages, dynamic videos and even using financial navigators or calculator to ask questions, to make them pause and think. Not to scare them, but to wake them up. May I ask you a bold question? It is real, but I'd like your permission first. These questions definitely will open doors for you to speak.

As MDRT, I believe our duty does not stop at selling. We provide sound financial planning through other awareness campaigns and also doing corporate social responsibility to reach out more to the underserved community. Why? Because there may be those who do not know this option ever exists. That kind of outreach is going to mold you not just as an advisor, but become a whole person.

Planning early is not just about protecting the future MDRTs. It is about honoring the present by acting while we have still the options.

Q: What is your advice on building the skills and emotional resilience needed to navigate end-of-life and succession conversations?

I believe experience builds everything. It is not about how to plan. It is about how you walk with a customer from start to finish, especially during their hardest moments. It is in the execution, the act of honoring promises.

That journey is going to strengthen your skill and you have the emotional resilience like never before because you have done it not for once, but many times in your life as an MDRT. Remember, always focus on doing the right things with honesty, empathy and purpose.

Navigating Difficult Conversations: An Advisor’s Strategies for Addressing Death, Succession, Illness, and End-of-Life Care

Transcript

Author(s):

Alan Lim Wai Loong