Mark Milbrod, CLU
What is Life Insurance?
Several years ago, while attending an industry meeting, I was listening to a speech. During which, the speaker was talking about the industry as a whole and the importance of what we do for a living. He then proceeded to read the following to the group:
A life insurance policy is just a time-yellowed piece of paper, with columns of figures and legal phrases, until it is baptized with a widow's tears. Then it becomes a modern miracle, a sort of Aladdin's Lamp.
It is food, clothing, shelter, education, piece of mind.
It is the sincerest love letter ever written.
It quiets the crying of a hungry baby at night. It eases the heart of a bereaved widow. It is the comforting whisper in the dark silent hours of the night. It is a new hope, fresh courage and strength for the widow to pick up the broken threads of life and carry on. It is an education for the sons and daughters (a chance for a career, instead of the need for a job). It is a father's parental blessing to his children on their wedding day.
It is the function of a father's hopes and dreams for his family's future. Through life insurance he lives on. There is no death. Life insurance exalts life and defeats death.
It is the premium we pay for the privilege of living after death.
Although it is a bit dated and arguably a bit corny, it is powerful nonetheless. This piece was written back in 1929 by Jack J. Leterman, who established the first John Hancock Agency in the state of Virginia. As a 25 year plus veteran in the industry, I was extremely taken back by these words and have had them framed in my office ever since. I take any opportunity to share these words with as many life insurance professionals as possible.
What we do is so unique and powerful. These words are the core of what we do and I believe today, more than ever, it is so important to spread the importance of these words to our clients. This is what life Insurance was intended to do but as we all know, it has become so much more than that.
Not only does it accomplish the most simplistic form of protection to surviving spouses and children such as, Income Replacement, Mortgage Protection, or College Funding. It provides solutions to a host of other, more complex problems facing our clients today. Whether we use Life Insurance to provide liquidity for heirs of larger estates, provide Supplemental Retirement Income, funding Buy/Sell Agreements, Key-Man Protection, etc., we are positioned to use this powerful product to find solutions to these, and other planning challenges.
We live in tough economic times. With uncertainties surrounding us, it is a great feeling to know that we can provide so much in the form of "piece of mind" with a simple stroke of the pen. The words above are over 80 years old, and the core principles behind them say it all... What is Life Insurance?
