Illustration Wars

We have all been there. We have a client teed up for a sale and then BOOM! They hit you with an illustration their brother-in-law’s cousin’s niece (three-times-removed) showed them.

There are several things that begin to run through in your head:

Don’t say anything bad about this distant relative.

Is my client going to go with this person regardless of what I show them because of the relationship?

Why couldn’t they email this to me? I could have had more time to plan my rebuttal.

The list goes on.

There is no perfect way to handle this situation as each client is different. At Algren Associates, we pride ourselves on our due diligence before, during, and after the sale to help mitigate the impact when this happens.

Being contracted with dozens of carriers gives us a deep understanding of their strengths and weaknesses. Carriers will also have strengths and weaknesses at the product level. You may have only presented a few illustrations that we ran for you, but those illustrations were chosen for a reason.

Sometimes we look for the highest rated carrier because your client is incredibly conservative and wants guarantees from a carrier with a tract record of excellence. Your client’s relative may not have access to certain carriers that are in that echelon.

Sometimes we look at products with the least amount of moving parts. Your client’s relative may not understand the intricacies of certain products which could lead to tough discussions down the line when the product is not performing as described.

Sometimes we base our assumptions on realistic rates to show a product’s strength(s), even though the cash build up might not illustrate the highest. Your client’s relative may not understand that just because you can illustrate the max rate does not mean you should.

Sometimes we suggest alternate products than what your client and you discussed. Your client’s relative may not be asking the same questions or understand your client’s financial situation as well as you do.

Sometimes we suggest riders that can offer substantial benefit at minimal or no cost. Your client’s relative may not be thinking about other solutions that a certain product can alleviate.

We do our best to make sure you are seeing clients with the best possible solution for them even if you only have an illustration or two with you.

The next time you are confronted with a client that says, “My neighbor’s mother’s granddaughter’s step-brother is in the industry and handed me this…”. We hope your first thought will be, “I hope they aren’t using Algren as their BGA also”.