Learning to live with (and love) suitability

“Suitability” looms big in every producer’s mind. Your application arrived in the company’s mail receptacle via the first delivery of the day. By mid-morning, it is working its way straight to the suitability committee to be scrutinized as to mathematical accuracy and correctness of additions and subtractions.

Percentages are critical. The next step is huge as the back office crew examines the completeness and accuracy of the much maligned suitability form. Will it be returned for further completion? Are your numbers out of whack?
Your professional career, not to mention your livelihood, college tuition for the kids and anticipated retirement income, is now in the hands of a secret group of “no-name” people. These folks are suspected of clandestinely holding your future in their hands. They are looking at your application about now. In a moment they will make
a gesture.

Is it thumbs-up or thumbs-down? These people control your income and constitute an ongoing threat to your future job security. The threat is big and your future is on the line. It hasn’t always been this way — business used to be a lot easier, you lament.

You carefully completed every question on the suitability form but an out of balance percentage can be a killer when it is off by an unimaginable margin. Your phone rings. “Who is it?” you ask. “It’s the suitability committee at XYZ Insurance Company,” your secretary replies. “I’m not in. Take a number,” you shout.

You are fearful the process could lead to cancellation of your important sale, the one you have worked so hard to cultivate and close. Most of us have had a dreaded phone call or two like this from the people on the suitability team.