A metaphor for HNW clients who don’t think they need insurance

If a client or prospect doesn’t understand why they need additional medical insurance policies, I use the following metaphor.

I have a bad habit of not bringing an umbrella when I go out, and yet sometimes it rains. And when it rains, I pick up a newspaper to protect myself from the rain. When the rain is heavy, my newspaper gets soaked, turns into pieces and I get wet. As it turns out, a newspaper can’t shield me from the rain as well as an umbrella can.

Many people like me believe a newspaper could shield them from the rain, just as if their savings could protect them when they’re ill and hospitalized. But in the end, they may have used up all their savings before they were cured, just as my newspaper was not enough to shield me from the heavy rain.

Don’t get soaked in the rain

Some people believe they can afford extensive medical bills. But if there’s an option, why not shift the massive medical bills to an insurance company? Today, I’m introducing an umbrella that can protect you from heavy rains, eliminating your worries about getting wet.

Whenever something unfortunate happens, it is crucial to have options. With the umbrella, I get to choose the best doctors, medicine and medical care I can get. All medical expenses, such as surgery fees and more, are covered by this umbrella.

This umbrella can cover even the medical expenses of fatal diseases, such as cancer, as well as fees for some severe chronic diseases, such as dialysis treatment expenses for renal disease.

Let insurance protect your finances

What’s important is that I’m more than happy to hold the umbrella for you when it rains, providing the best service and most suitable umbrella, or protection, for you. It will shield you from the rain and safeguard your savings from unexpected medical expenses.

As the saying goes, “Everything can change in the blink of an eye.” I believe that everyone should own this umbrella and protect themselves.

Yung Sze Hon Solomon is an 11-year MDRT member from Hong Kong, China. He is also a Top of the Table member. This was excerpted from his 2023 MDRT Global Conference presentation “An umbrella story.” You can find the video on mdrt.org/learn.