This is part 2 in a three-part series highlighting why I love the life insurance industry and have chosen to serve the tech staffing/Tech Exec Search needs of those within it. As a financial instrument, life insurance stands alone as a seemingly miraculous product every time a death claim is paid.
Recall from part 1, before graduating from college, I supported our young family by selling life insurance. This story tells how my biggest sale may have never happened without my lovely bride’s timely assistance.
It happened nearly a full year after leaving the life insurance business to join IBM. Still a licensed agent, I kept one prospect file with me at all times. Uncle Bob’s file contained dozens of ledger statements I had periodically reviewed with him over the course of nearly two years.
My uncle was an engineer by trade and a very successful businessman. Nothing escaped his painstaking attention to detail. I will never forget the day the life insurance stars finally lined up for Uncle Bob and me. It was during a phone conversation we had from my desk in the downtown Indianapolis IBM office.
“So Brad, according to column five, the premiums paid in will equal the cash value after ten years. Correct?”
“Yes sir, that’s correct.”
“And the death benefit at that point would be $xxx,xxx Correct?”
“That’s right. $xx,xxx more than the face value.”
Silence…a seemingly nine-month pregnant pause. Though still a rookie salesman, I sense I am very close to closing this deal. A deal that will pay me more in commissions than my annual salary at IBM. I bite my tongue, knowing that anything I say could blow it. Silence can be a salesman’s secret weapon, though often the hardest one to deploy.
Finally, he speaks.
“Well, what does it take to put this in force?”
Did I hear him correctly? Is he really going to buy this time? My throat feels as dry as our checking account. My heart pounds. My pulse races. I am completely unaware of what’s going on in the office around me.
“All I need is a check for the first month’s premium.”
“That’s fine. I’m going to be out of the office for the rest of the day. If you’ll come by on Monday, I’ll have the check waiting for you.”
“That’s great! I’ll be there first thing Monday morning. Thanks Uncle Bob and have a nice weekend!”
Rookie that I was, I knew enough to know that once the prospect says “yes” the salesperson should beat a hasty retreat. Decked out in my IBM blue suit and starched white shirt, I was trembling uncontrollably with tears freely flowing down my face. I could not believe our good fortune. Wait ‘til Elaine hears this. I called her immediately.
“Are you sitting down?”
Wanting to savor every delicious moment, I walk her back through all the details of my lengthy phone conversation with Uncle Bob.
“And then he said I could pick up the check at his office on Monday.”
“Monday? That’s three days from now,” she said with great alarm in her voice.
“What if he changes his mind over the weekend? Worse, what if he dies? We can’t take that risk. You call him back right now and tell him you will come to wherever he is to pick up the check and close this deal.”
In all the excitement, I had forgotten the most fundamental rule of selling—it’s not over until the customer cuts the check. Fortunately, once I tracked down Uncle Bob and sheepishly explained my dilemma, he chuckled and arranged to meet me that afternoon. Credit my lovely bride with an assist in closing the biggest sale of my young career. How ironic that I was no longer in the life insurance business when it happened. Thank you, Manulife!
