Rickson4

QUESTION:
I like how you talk about, you know, you have this customer, will you be comfortable
inviting him or her for your dinner? But how about a potential customer? Always invite
me to join her family dinner, but until now I haven't got a brochure or a case from her.
And she's rich. And when I talk about universal life, she said, Michelle, no need to talk
about this, there's one private banker, they tried to sell us one universal life and tell us we
can go Bali for holiday.

So she bought the universal life just for that holiday. Yeah, but after that she said, I don't
think we need it, because I think children can make their own money and, you know, we
don't need to give the legacy, although we are Chinese, but in my blood I'm already a
French or a foreigner Thai. So I didn't sell her anything, but she always invites me for her
dinner.

Like, she's really rich, whether in Singapore or in France, but I don't know, how can I break
through? If you were at a dinner, or if you were in my position, how will you break
through and make her to be your customer? Very important question to ask you. How is
the food? She's a great chef. Yes, she always, you know, have good dinner, like seafood
she cooked herself. From morning she go to the market, she buy and she cook it, and good
wine to entertain us.

I'll tell you a story. 2001, we had fax machines.

I received a fax in my company's sales office, and it said, it named a very prominent Indian
movie star. He said, this movie star is coming to open our new boutique. And the name of
the family, it was a jewelry store.

The name of the family and the jewelry store. All are there. They basically, to show who
they were, sent from the director a fax to every organization.

I saw the fax, I walked into the office, there was nobody there. I ripped the fax sheet out and
I kept it in my pocket. Because you don't want 20 insurance agents going there.

I didn't go there. But a week later, I sent them a bouquet of flowers. Congratulations.

They had no idea who I was. And then I followed up, called up the number, said I need to
speak to someone, to receive my flowers. And then I went and saw them.

And three years later, two years before that, I spent New Year's Eve and half of the first of
January, 12 o'clock to 1 o'clock, trying to close a life insurance policy with them. Three
brothers, ultra, you know, overwhelming. And we closed something really small.

A few years later, my wife and me met and we got married. And our engagement ring and
wedding ring was from these guys. They came to church.

They're not Christian, they showed up at church. And their father, the picture of my family
was there. He gave me the ring, you know, before.
And it's been 18, 19, no, it's been 24, 23 years now. They haven't bought anything from me
yet. But you know, occasionally they call me up and tell me, I've got some problems with
this policy.

Can you come and just take a look at it? And I will jump in every time because it's him
calling. He's the big cash cow. I went running.

I'll spend hours. And I'll give him the right solution. And then he would implement it with his
back cut every time.

What I'm trying to say is it happens to everyone. Right? We don't have to have a solution for
everything. One thing I will say is from your conversation, what you mentioned is I want to
sell them life insurance, universal life. What I would do instead of that is think about their
potential problems rather than the product or the solution. You see, when someone thinks
about typical life insurance policy, they think about, ah, if I die, someone's going to get the
money. This is what everybody thinks about life insurance.

But when you think about the different applications of it, do those other applications
appeal to your client in any form or way? Could there be another problem that she is
completely unaware of? Could she have an inheritance tax problem? Could she have
issues where the liquidity of the family could completely be disrupted? What are the
possibilities over there? She may, you know, kind of space out a little extreme, but could
she have, could her husband have another family tomorrow? That's happened to some of
my clients. They got divorced. Later on, now, husband's married to somebody else.

They've got another child. Now the estate's divided. There are so many things that are
possible.

So my point is, try and find the underlying problem. When they call you home for lunch or
dinner, treat it as lunch or dinner. Right? We are not going in there and talking to them
about business at that point in time.

Because then they will think twice about calling you over for lunch or dinner as well. They
need to see you as an independent, as someone who's great at it. She's not calling you for
life insurance.

She's calling you because, even though you want to sell her life insurance and she doesn't
want to buy, she sees something that she's attracted to in you, in your personality. Right?
And that's a positive for you. But every time you reach that barrier with a life insurance
question, which is that she doesn't want to do anyways, this becomes a problem.

Some ways of dealing with this could be, of course, think about what the underlying
problem could be. But the other thing you could consider doing over here is, rather than
talk about life insurance for her, share stories of what you've done recently for other
people. We have come up with this crazy case, by the way, just to give you an idea.

I'm not going to share any names. But, you know, this is the problem. This is the family.

High net worth. This was the situation. And this was their problem.
And this is how we solved it. What do you think of that? Maybe she'll be cold about it. But
it's okay.

But maybe don't ask her directly about life insurance anymore. She knows you sell. And,
again, you have the benefit of being in her good books for her to constantly invite you
home.

So, you know, if a need ever comes to surface, she is going to call you. Right? So, don't wait.
But don't ask.

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