When I was just 22, my dad bought me a small universal life insurance policy. Now it’s 2010, and my annual premium is almost due. I have some questions about my options. 1. Since I’ve accrued a little bit of money and am vested, do I need to pay the premium this year in order to keep the policy alive? 2. If I want to borrow against this policy, how do I go about paying it back; what is the interest rate? 3. What are the advantages of keeping this policy versus cashing this one out and buying a term policy instead?
Et. cetera.
Now, you’d think that I’d be able to get answers from J.S., the agent in charge of my policy. J.S. was oh-so-helpful when I opted to hold insurance policies on my home, car, and life with his firm. But suddenly, he’s acting like he barely even knows what the term ‘life insurance’ means. I need assistance, and I want someone to walk me through it. I do not want to read through a lot of muckity-muck to figure it out. I want a live person to examine the pros and cons on my behalf. I want the salesperson to deliver on his original promises, and I want him to show me the same level of attention as he did when I was first buying the policies. As a loyal customer for two decades, is that too much to ask? Let me rephrase: is that too much for any paying customer to ask?
So yesterday I discovered that my agent could not even 1. offer to send me info in short order or 2. give me a proper customer phone number to call so that I could talk to a real life insurance expert. Now I have to take my own time to do that research, and you know how that goes. I may get started on something else, and the whole situation will slip on by. Next thing I know, I’ll be paying the premium again simply because I don’t have time to figure out the answer.
Nope. Not this go around. THIS time I am going to stick with the pursuit of these answers so that I can make a more informed decision.
If you are an AEC firm leader, or an AEC business development or marketing representative, listen closely: During the course of your tenure at the firm, you have convinced clients to buy your services. You better be prepared to point them in the right direction when they come back to you—even if it’s years later—with questions or concerns about the services your firm provided for them. It is essential to understore your reputation as a quality business development professional in good standing.