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Life Health > Life Insurance

The top 10 pieces of advice for advisors

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It’s hard to believe it has been a year since my first That’s Life column. I have truly enjoyed (and learned a lot from) writing the columns, and I sincerely hope you have found them valuable as well.

Although it’s hard to find time in our busy schedules, sometimes, the best way for us to succeed in our practice is to take some time to reflect on what we’ve learned. So this month, let’s take some time to look back and revisit the top 10 things advisors should keep in mind when working with senior clients.

Understanding the client

Slow it down?learn how to reach across generations and slow down for your senior clients.

Know the family executives… invest in the two family CEOs – chief executive officer and chief emotional officer – as well as their children because as time passes the next generation will inherent the role of CEO.

Family matters?generate important family conversations, and help create a sense of peace for seniors, knowing their loved ones understand the benefits of the financial planning they have done.

Understanding the product

Policy basics?take the time to educate yourself on new policies before advising clients on the products that are right for them.

Educate the senior consumer?look at your senior clients and make sure they understand the policies and what they need to do to achieve their retirement and legacy goals.

The good and the bad?counsel clients that life insurance can have value not only during the bad times, but also in life’s good moments.

Out of sight, but not out of value?educate your clients about the changes that can bring value to old insurance policies and help them review their policies from every angle.

Leaving a legacy?ensure your clients see how life insurance can help them leave a financial and life legacy for their families and ensure children are not financially burdened after their parents are gone.

Understanding your role

Integrity, always integrity?recognize the importance of integrity in your relationship with senior clients and always strive to maintain the reputation of our industry.

Excite action?create the will in your clients to take action to prepare for retirement – the solutions exist today and as advisors we must always do what we do best – encourage our clients to take action. But as industry leaders, we should also go beyond our client base to excite action in our communities. For example, Baby Boomer Retirement Preparedness Week (Aug. 6-10) and Life Insurance Awareness Month in September are great opportunities to spark action. More information on BBRPW is available from the Million Dollar Round Table at

A year ago I said we would address a number of issues, and from the looks of it we did just that. As we kick off another year of That’s Life columns, I encourage you to take action and use these tips as well as additional resources to educate yourself and your clients about life insurance and planning for the future.


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