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InsuranceProducers-YourBrainisAHardDrive.DontWasteSpace.-smallLast week I got sick. Not like a couple sneezes and a tiny headache kind of sick. More like the being run over by a truck, twice, would have made me feel better kind of sick. I’ll spare you the details. Being the kind and considerate soul that I am, I opted to stay home rather than contaminate every person in the office.

After watching 10 episodes of Star Trek in a row, I was finally ready for a break from Shatner’s antics. Looking around for something within arm’s reach of the couch, I eyed the copy of “Think and Grow Rich” by Napoleon Hill that had been sitting on my end table for six months. Feeling somewhat guilty about neglecting the book and slightly more guilty that I spent the morning watching awesome TV shows while my cohorts braved the rush hour traffic, I decided to get some self-improvement out of the day.

Picking up where I left off, I flipped the next page and my brain exploded. You know those things that when you hear or read them, you just sit and say to yourself, “Oh. Duh.” It was one of those.

Knowledge has no value except that which can be gained from its
application toward some worthy end.

This is one of my biggest failings in life. I need to know everything. I may never apply what I spend hours researching, but I get stuck on why and how things work. I could show you how to haft a stone arrowhead to a spear shaft or explain why some gemstones come in different colors. Unfortunately, while neat, there is no place in my life where I can apply this information.

I see this all the time in brokers who are new to disability insurance. They feel the need to understand the minutia of all the contracts, of which little to none is truly relevant to the sale. Brand new disability insurance brokers need to know exactly 5 things about contracts. 

  1. What is the occupation definition?
  2. Is the contract guaranteed renewable or non-cancellable?
  3. Is there any possibility for a discount?
  4. Are there any riders my client specifically wants?
  5. How much will it cost?

The tiny things are not important if you are going to sell one or two disability insurance contracts a year. Learning exactly how each rider is specifically written for each carrier is a waste of your time unless you are going to be writing tens of thousands of dollars a year. In the beginning, focus on the need for the product. If you can sell the need, the detail will fall into place.

Knowledge is great. Knowing things is important. I believe when you stop learning, you stop living. Simply adjust your habits to collect knowledge that will be immediately useful to you. You retain something better when you immediately apply it. You, your client and everyone dependent on both of you will benefit.

Someone once ridiculed Einstein because he got a phone book to look up his own phone number. His response? Why waste limited brain power on something you can always reference? You have experts on these contracts at your disposal. Clients rarely buy insurance on the legal language and statistics, unless they’re a lawyer or super nerd, like me. People buy on stories and feelings.

If you are ever stuck, or can’t remember what something means or how something works, check page two on our disability insurance policy analyzer or call the sales department. We can help you. That’s why we’re here. Think of us as your external hard drive for DI knowledge. Only take in and retain knowledge you will apply to the sale. Otherwise, it’s a waste of time and brain space. And if you haven’t already read it, go pick up a copy of “Think and Grow Rich.” I promise it will improve your next sick day.