Trusted Resource?
Notes from Episode 80
Try this…
Imagine every type of insurance you offer your clients. MA plans, Medicare Supplements, ancillary products, etc. Put all that on a table. Now, take your arm, starting at one end, and push all those policies off the table and onto the floor. What is left?
That is you, as a trusted resource. Now, you might be thinking "There is my wisdom sitting there staring at me to help guide my clients through that giant mess I just made on the floor." But, to you, I say that doesn't count. That is on the floor with the policies. Why? Because that relates to buying a policy.
What else is on the table? What other value do you offer? And the answer to these questions is what separates an insurance agent from a trusted advisor.
If a client wants a power of attorney, how do they get one?
What if one of them goes to a nursing home, what would that look like?
If they need home modifications, how can they get them?
If they need dental work but are on a very tight budget, where can they go?
If they are struggling financially, can they get assistance with utilities?
On the other side of the financial scale, if they are traveling overseas, is their Medicare Supplement or MA plan going to provide adequate coverage should something happen?
"But Mike, I sell insurance, I don't do all of that!" True, and if that is your attitude that is okay, you can have that, but know in the eyes of, more than likely most of your clients, you are just an insurance agent.
However, when you can give guidance and direction you become more than just a means to a policy.
For example:
After we purchased the home my wife and I are in, our main pipe leading out of the home clogged up and needed a plumber. I didn't need a plumber for, oh, since I had moved to Columbia, MO so I didn’t know who to call. So, I called my realtor who sold me this house knowing he had lived here for 30+ years. He gave me 2 referrals for plumbers. One came out, fixed my issue, and now all is well. I knew the realtor wasn’t a plumber, but I knew he was a resource for all things home maintenance and repair. He is my home’s trusted resource.
When a client asks you a question like the ones above, what direction can you give?
WHERE TO START
Here are some ideas to get you started to being a trusted resource:
Here are 5 starting points and of course, as clients come to you with others you can build on this resource list.
Go to your local senior center. Look at who is on their community bulletin board for any resources. Talk to the staff, what resources do they have?
Find your local area on aging office. In one of the counties I worked in they had a resource book, they would hand out with all kinds of numbers and websites.
Needymeds.org - go there and look around. There are dental clinics, disease-specific organizations, etc. And of course, all kinds of info on medicine.
Find an estate planning attorney and talk to them. See if they have any resources (potential pro partner)
Go to Benefitscheckup.org and look around there as well. They have programs for saving on utilities, food, medicine, housing, etc.
They say knowledge is power, but it can also be empowering, and in this case empowering you to be more than "just another insurance agent."