The level of gun violence in Omaha has gotten completely out of control. I love this city and the people in it – this needless loss of life makes me very sad and very angry. It is said that most circumstances won’t changes until people are fed up. As awful as this weekend has been in Omaha, things will only change if the local residents have reached their limit and refuse to put up with it any longer. For the good of our city and the state of Nebraska, I’m hopeful the citizens and police in Omaha have reached their tipping point.
Secret to Successful Communication
I read somewhere that Stephen King, who has to be considered one of the most prolific authors in history, wrote something every day. Christmas, New Year’s…and yes, even Thanksgiving. He would sit down in front of his computer and write, regardless of the circumstances in the outside world.
In attempting replicate this habit and ingrain it for myself, I am writing today. (Yes, in fact, I wrote this on Thanksgiving morning).
Having a quiet meal at a resort on Maui this morning, for some reason I began to think about the differences in people and how they interpret and communicate information. Some people are “straight line” communicators – they want to know only the relevant details and need to get to the point. Extraneous context is a waste of time for these folks and many times, becomes an irritant.
Then there are the “story-tellers” – no detail is too small and the amount of context they need and/or provide is vast. The feeling here is that you can never get the full point of the story if you don’t know everything involved.
I have not researched this nor am I an expert, but I would assume that most people fall somewhere in the middle of these two categories, with a habitual lean to one side or the other. So I began to wonder…what is the best way to quickly identify which style is most apparent for those you are communicating with? And wouldn’t it make sense, once you know which way someone “leans”, to adapt ourselves to that style?
Then it hit me – there is one and only tried and true method of identifying style: listening.
The true art of listening has been lost for most of us – the noise in today’s world makes it very difficult to focus. But I would submit that we can get better and by getting better, communicate more freely and build stronger relationships personally and in business.
Listen and adapt – simple, but not easy. That’s why most people will never do it.
Giving Thanks
Thanksgiving means so much to so many and it has always been my favorite holiday. While it should not take a special day for any of us to express our gratitude, this day is always wonderful because at it’s core, we are asked to do one simple thing: Be grateful.
So as each of us celebrates Thanksgiving in our own way, I am grateful:
For the friends and family who have helped me and become a key part of my life.
For the business associates and partners who share the desire to make a difference.
Sounds like a corny exercise, but I would encourage each of you to make a list of all of the things for which you are grateful. It’s funny how in a world so focused on the acquisition of “things”, it all boils down to the people who really make a difference.
Giving thanks can be the most fulfilling part of our lives – regardless of the date on the calendar. Thank you for reading.
Question Everything
Sitting here on a resort balcony in Maui, considering the beauty all around me – so what do I do?
You got it…I checked my email!
Hyper-connected is probably a word best used to describe me but I’m really trying this week to disconnect as much as I can. However, in my email, I received a question to a blog post I had written a week or so ago.
It was a good question, but I didn’t know the answer – which made me consider the power of a good, thoughtful question.
Sometimes they can be technical in nature, sometimes a bit more conceptual. But the one thing that a good question does is make people take the time to THINK.
It’s really not as easy as it used to be to think. We are so connected to the internet and our gadgets that we feel like we can simply react immediately and have our back up information ready to go at a moment’s notice.
But taking the time to think about a question and consider alternatives is powerful. And in sales, the art of asking good questions can lead to success.
If you are looking for a differentiator in your market, start with the types of questions you are asking. If you can make people think, they will buy (courtesy of Jeffrey Gitomer).
Why?
Just saw a story on the local evening news:
A 36-year old man died suddenly, leaving a wife with medial issues and 5 children behind. He had NO life insurance.
The local community held a benefit to raise money to help the family, but being in the life insurance business, this type of event happens all too often and makes me absolutely crazy! How is it possible that a family has 5 children and don’t at least buy some term life insurance to protect the income of the major breadwinner?
The answer is a wake up call for EVERYONE in financial services: it’s likely because no one bothered to ASK them to buy life insurance. Unfortunately for many of us, we aren’t willing to go buy something like this on our own – the old saying, “We must be sold what we need” comes to mind.
It should be our personal mission to never let this happen to anyone. Educate your clients and give them an opportunity to say “No” to your idea. Most of them will say “Yes”.
10 Things About Life Insurance
There is a lot of information out there about life insurance. Some good, some maybe not so much. These are the basics that everyone should know:
- INCOME TAX FREE – Life insurance death benefits are paid income tax free.*
- ESTATE TAX FREE – Using third party ownership (an Irrevocable Life Insurance Trust or ILIT), death benefits are not includible in your taxable estate.
- TAX DEFERRED GROWTH – Buyers of permanent life insurance with an eye toward growing their cash surrender value should know that the cash inside the policy grows tax deferred.**
- FIFO – Money that is paid into a life insurance policy (within the “Modified Endowment Contract” or MEC limit) and later withdrawn is received “First In First Out” or FIFO. Your after tax premium dollars are the first to come out when using a life insurance policy as a cash flow vehicle.**
- LOANS – Policy loans are not taxable while the policy is in force. You can access cash from your policy without paying current income tax. Only when the policy ceases to exist, while you are alive, in income tax due.**
- GUARANTEED PREMIUM – If you buy a level premium term plan (10, 15, 20 years, etc.) or a Guaranteed Death Benefit Universal Life (GUL) plan, nearly every company in the market guarantees that the premium and benefit amount will not change during the level premium period.***
- GUARANTEED DEATH BENEFIT – If you buy a level term plan or GUL, the amount of death benefit is guaranteed by the company not to decrease.
- GUARANTEED RENEWABLE – The insurance company cannot change or cancel your coverage, even if your health, lifestyle or hobbies dramatically change. If you purchased a plan without a premium guarantee or are beyond the guarantee period, if it possible for your premium to change, but not the benefit.
- AVOID PROBATE – Life insurance proceeds paid directly to a named beneficiary avoid probate costs, delays and will not become public record.
- NEVER AN UNPAID CLAIM – There is no record of any legitimate life insurance claim that went unpaid in the history of the industry. Take comfort in knowing that your beneficiaries will be paid.
*Always seek tax advice from competent tax counsel.
**It is important to note that accessing cash value from a GUL plan will likely change the length of the guarantee.
***It is important to continually review your life insurance coverage. GUL plans can be sensitive to the timing of premium payments and regular monitoring is encouraged.
Play To Your Strengths
Driving down I-35 earlier last week, a thought occurred to me about the challenging year of 2013. Most challenges occur because we are attempting to do things that we are either not currently adept at doing OR that we are not suited to doing in the first place.
Examining the first concept, if we are making changes and attempting to do things in our business or personal lives that are realistically possible and aligned with who we are, we are on a path of continued improvement. BRAVO! These are the types of challenges that we should continue to meet head on, embrace and improve on who we are and what we are capable of doing.
The second concept, however, is where the real heartburn exists for many of us. Especially in our business lives, we spend entirely too much time trying to pound a square peg into a round hole. Instead of finding creative ways to leverage our successful products and relationships, we build products not suited to our current markets and that move us away from the core of what made us successful.
Improving on weaknesses is something we all should strive to do every single day. But we need to recognize and stay committed to the core strengths that make us valuable in the first place. I think I would call this “staying in alignment”.
A True Health Insurance Story
Spoke to a close friend of mine today & he sent me the following from his experience on the ObamaCare website. This is the actual transcript from the chat conversation and I’m publishing it here because it makes me laugh…and shake my head in disgust at the same time:
| [8:03:09 pm]: Thanks for contacting Health Insurance Marketplace Live Chat. Please wait while we connect you to someone who can help. |
| [8:03:13 pm]: Please be patient while we’re helping other people. |
| [8:03:47 pm]: Please be patient while we’re helping other people. |
| [8:03:53 pm]: Welcome! You’re now connected to Health Insurance Marketplace Live Chat.Thanks for contacting us. My name is Quanza. To protect your privacy, please don’t provide any personal information, like Social Security Number, or any other sensitive medical or personal information. |
| [8:04:20 pm]: Quanza |
| How may I help you? |
| [8:04:24 pm]: CALLER |
| I can not set up an account — I have tried 10 times with three different email addresses |
| [8:05:21 pm]: Quanza |
| Thank you. One moment please while I look that up. |
| [8:06:00 pm]: Quanza |
| Thanks for your interest in the Health Insurance Marketplace. We have a lot of visitors trying to use our website right now. This is causing some glitches for some people trying to create accounts or log in. |
| [8:06:34 pm]: CALLER |
| ok I will not get sick or hurt until you can fix the website |
| [8:07:44 pm]: Quanza |
| I apologize for the inconvenience. |
| [8:08:11 pm]: CALLER |
| what should I do? Will you tell me when its ok to try and create an account? |
| [8:08:48 pm]: Quanza |
| Thank you. One moment please while I look that up. |
| [8:10:40 pm]: CALLER |
| is there another option to get rates? Are you a real person or automated? |
| [8:12:09 pm]: Quanza |
| You can still fill out an application even if you haven’t created an account. |
| [8:12:44 pm]: CALLER |
| how? is there a way to get [premium rates without going through this entire process? |
| [8:14:00 pm]: Quanza |
| When your application is completed, you will see what financial help you may get and then you may select and enroll in a Marketplace plan. |
| [8:14:38 pm]: CALLER |
| where do I go to fill out an application if I can not set up an account? |
| [8:15:51 pm]: Quanza |
| Thank you. One moment please while I look that up. |
| [8:20:23 pm]: Quanza |
| You can complete an applicationby phone, in person, or by mail. |
| [8:21:38 pm]: CALLER |
| where do I get an application to mail? can I download it? can you email it to me? where do I send it once it is complete? |
| [8:23:08 pm]: Quanza |
| Thank you for your question today. It will take me just a moment to review and respond to your question. |
| [8:24:15 pm]: Quanza |
| I’m sorry; I am unable to mail the publication you requested at this time. You can view, print, or download publications and fact sheets by visiting Marketplace.CMS.gov. |
A Little Perspective…
I have been a business traveler for nearly 20 years. I have experienced flight delays, cancelations and just about every possible scenario that can irritate, confuse or just plain piss you off.
Earlier this year, I was trying to get home from Atlanta. As usual, we boarded the plane for our flight, left the gate & taxied out to the runway. Nearly to the front of the line, we were told we would have to return to the gate due to a mechanical issue on the plane. As will normally happen, the entire population of the plane let our a collective groan.
Back at the gate, we are told to gather our belongings and get off the plane. It was at this point that I noticed a woman on the plane with a small dog strapped to her, but I didn’t give it much thought.
Sitting in the airport, it was announced that another plane was being brought in for us. Eventually, plane #2 was loaded up but before we left the gate, we’re told that we had a mechanical issue & we have to get off. On my way off the plane, I again see this woman trudging along with the rest of us to a different gate to try again.
Now, I will be right up front here and admit I have a tendency to rail against the entire airline industry for its poor customer service. In all my travels, never before have I boarded 3 different planes for the same flight. Plus, I knew I was going to miss my connection in St. Louis. Needless to say, I was beyond unhappy.
Third time was a charm, so to speak, and we eventually got to St. Louis. Jumping through the hoops, I was given a hotel room & meal voucher and then rebooked on a flight the next day.
As I boarded the hotel shuttle at the airport, I again noticed this woman from earlier, little dog with her as she boarded the same shuttle. Another lost soul stuck in airline hell.
We get to the hotel & as I finish checking in, I hear this woman being escorted in to the hotel by the bellman. He brings her to the registration desk & says this woman doesn’t know what to do. She had never checked in to a hotel before.
She didn’t have a credit card.
She didn’t have a cell phone.
All she wanted to do was get home to Seattle. And she was absolutely scared to death.
What happened next is not important. What does matter is it gave me a huge example of perspective.
After talking with her, I put myself in her shoes & experienced what had happened to her that day. I cannot imagine her feelings of uncertainty, fear & loneliness as we boarded those different planes, finally arriving in St. Louis having missed her connection home. She had been through a hell so much worse than the rest of us because she had no idea what to do.
Empathy & perspective is such a gift. We all need a reminder now & then.
Frustration & Uncertainty
A day of frustration and continued uncertainty today – made worse by the cold, dreary, rainy weather. From complaint phone calls to leadership changes, it seems not a day goes by without some type of upheaval.
I find myself thinking about something I heard Tony Robbins say in one of his programs. I’m paraphrasing, but he said that human beings crave both certainty and uncertainty in their lives. Too much certainty and we get bored; too much uncertainty and we get fearful and on edge. There has to be a healthy balance of each for us to function properly.
In the external world, it is nearly impossible to find certainty in today’s world. More and more, change and uncertainty are a part of daily life. So if we cannot find firm ground externally, we are left to retreat into ourselves.
I’ll be the first to admit I struggle at times with finding solid footing. So I’m curious to those who would like to respond:
Where do you find your solid ground? Is it religious belief/faith? Is it a strong support system at home? Is it just a matter of compartmentalizing between the different aspects of your life?
Interested in your thoughts…
Jeff Waddington 