Have you ever known someone who worked at a restaurant who has said, “if you knew what I know about what goes on in that kitchen, you’d never eat there”? Would you want to know?
The insurance industry is not good at educating consumers on the workings of a rather complex financial product, a confusing contract, and all of it underwritten and priced on the insurance company’s ability to predict the future. Instead, our industry promotes itself and sells its product with a “come on down for the best price in town” pitch.
But if there were someone you knew who said, “if you knew what I know about your insurance, you’d never do business with them”, would you want to know?
More money is made by mass marketing insurance to find consumers who fit the insurance company vs. the other way around. And the consequence of that is that there’s no value and no benefit to you. If you’re okay with that, you’ll be rolling the dice with your wealth just as you’ll be rolling the dice with your health if you continue to eat at that restaurant.
But we say instead, slow down the process, ask for a different opinion, expect customization, and align with an educator, not a salesman.
Photo: Rachael McGraw, Paris