Hey Coach…What’s the Play??

Right now, I just love to play, period! This isn’t business as usual for us, but it’s also a moment in time when the work we’re doing is most critical. I am so grateful for my essential team and the big work they are doing. My list of worries right now—like yours, I am sure—is long: from my own children, parents, family, and friends, to you and your safety. I hope you are staying secure, sheltered in place, stocked with toilet paper, and healthy during these absolutely unprecedented, wild, chaotic, terrifying times.  

Now, back to the story.  

Imagine for a moment that you are the head football coach of a very successful football team. You achieve a high level of performance on and off the field. You compete with yourself only, not other teams. Your strategy is to find a team that takes an honest interest in the wellbeing of your objectives and stay focused on the mission: to win.  

An insurance company can be your winning team. You should expect nothing less than an insurance agency’s best performance on and off the field. Consider this: the agent is your quarterback. She’s the face of the organization and ultimately will determine how good or bad your team will be during any particular season of your life.  

She knows the responsibilities of every player out on the field with her. The offensive line (customer relationship managers) make sure you have annual reviews to ensure your policies are up-to-date, and get you everything you need from an insurance agency in a prompt and friendly manner.  

Your offensive line can also be your defensive line. When choosing an insurance agency (team), understand that you are choosing risk advisors. They should be able to utilize their expertise to assess the stakes of financial decisions for their customers and together develop a strategy to minimize risks.

Here is a quick example of a risk that commonly goes unidentified. There is a customer, a college professor. While he is driving home one day it starts to rain. He pulls up to the red light because he wants to make a right turn on red. He looks left, like we all do and as he pulls out, he fails to see the guy running, trying to get out of the rain. The professor runs right into him. $900,000 later, the last medical bill is finally paid.   

Fortunately for the professor, one year earlier his insurance agency had recommended he have a liability umbrella policy. His insurance company paid the entire claim. There isn’t a day that goes by that he sees us and doesn’t thank us. Had he not had that policy in place, his life would have surely suffered.  

I would like to identify seven other major risks you need to TACKLE before it is too late:

Medical Insurance

Major medical procedures can cause hundreds of thousands of dollars. Consider your potentially high deductibles as well. Is there an affordable policy that will fit your budget while also helping you manage these costs?

Disability Insurance

You must protect your paycheck. If you became sick or hurt and couldn’t work, would your job continue to pay your income? This is one fewer worry with a short- or long-term disability policy.  

Life insurance

What if something happened to you with permanent consequences? Do you have group life insurance at work? What about life insurance that you own? How much do you have? We all presume we are going to remain healthy as we get older. I would encourage you to consider taking action sooner rather than later.

Retirement Money

What if you get to age 65 and determine that you don’t have enough money to retire? Would you rather find that out today or 27 years from now? It is wise to put a plan together now.

Aging Parents

Are you willing to pay out-of-pocket for your aging parent’s care long-term? Would you rather own an insurance policy that pays it for you?

Home Insurance

Like auto, homeowners insurance isn’t a luxury; it’s a necessity. This is not just because it protects your home and possessions against damage or theft. Virtually all mortgage companies require the fair value of the property to be insured. You need to understand the basic levels of coverage that exist and how they impact your risk and your rate.

Auto Insurance

To make the best decisions about purchasing auto insurance coverage, you’ll want to understand what’s covered, what’s not covered and what’s optional. In addition to understanding types of coverage, you’ll also want to consider coverage amounts.  

Whew. That is a lot of information, right? 

This is why you hire the right team to stand beside you throughout the winning/losing seasons of your life. Your insurance company should be a little different from the others.  They should be a little better than the rest. They should always put your needs first and attend every practice. They should be willing to do the dirty work. 

Hire the right team and they will win for you. They will prepare you for anything so you don’t have to worry about big financial losses. They will make plays, call shots, and carry the ball all the way down the field in all kinds of conditions, because your success is their success. Go team!