Have You Purchased a “Golf Retirement” Yet?
05-01-2010
Recently, an agent shared the following story with BUA. It was so good we asked if we could use it because it goes to show how insurance products can be used creatively to help clients meet their financial goals.
“I was in my club’s pro shop, when I heard one of the other members complaining about how hard his financial interests have been hit over the last couple of years. He had been forced to cut back, and was afraid golf was going to be next. Lamenting ‘I didn’t sign up for this’; he sounded resigned to giving up something he cherished.
Recognizing an opportunity, I approached the member, who I knew casually, and asked him if he had purchased a golf retirement yet. Scratching his head, he looked at me and asked what I was talking about. I explained, all we had to do was figure out how much a month he spent on golf, and he could buy an insurance product that would pay for his golf for the rest of his life.
Basically I had just pitched him a single premium immediate annuity that would pay a small monthly benefit, but he loved the idea and bought one to make sure golf would always be there for him. A few days later another member approached me and asked if I would sell him a golf retirement as well. So far I have sold about a dozen “golf retirements”, and have had conversations with a few of these new clients about additional insurance sales. And the best part is- I have taken the commissions I have earned from these sales and purchased my own golf retirement.”
Sometimes to see the true value of an insurance product or concept all we need to do is shift our point of view just slightly. So how about it, how can we help you insure your clients “golf retirement”?
