Early in my career most of my sales were Term Insurance. I was proposing Permanent and Term, but everyone seemed to be buying Term.
I sat down with my manager of agency training to discuss how my meetings with clients went and he taught me about “Good, Better, Best”. A lightbulb went off in my head. I fell in love with the idea so much that to this day, you will still hear me use this phrase when I am breaking down concepts for a case.
So, what is “Good, Better, Best”?
Good, Better, Best is a planning tool that can be applied to almost any situation we come across in life. For Life Insurance sales it was the idea that Term insurance is a GOOD product for protecting your family from your unexpected passing. A mixture of Term and Permanent is BETTER for your family since your family will see at least some benefit upon your passing. Having all Permanent coverage is the BEST scenario since your family will get the entire benefit when you pass.
This tool can be used for anything. Consider it when planning for weight loss. Eating less is GOOD, eating less and healthier is BETTER, and eating less, eating healthier, and exercising would be BEST.
I found that using this tool helped me customize presentations to my clients based on their needs. It also helped me understand that even though I thought my clients were not doing the appropriate planning, they were at least doing GOOD planning.
Lastly, it taught me that not everyone can do BEST type planning. Sometimes all a client can do is BETTER or GOOD. And that is ok, because GOOD planning is BETTER than none.
We all want clients to do the BEST possible planning. Many times, BEST is not always a viable option. There is no shame in settling for GOOD, or BETTER.