In a galaxy some 45 plus years ago, I was being recruited to be a life insurance agent for Aetna. This would be a career change, so I set one condition — they must send me to their four week Estate Planning School in Hartford. They agreed, and I went.
There were about 30 or so students, all ages, mostly male, coming from diverse backgrounds in my class. Our instructors were most knowledgeable. The curriculum covered basic products and services we would provide, with an emphasis on each element of the life insurance contract. We also learned how to prospect and set appointments.
Under “needs analysis”, we studied how to calculate the amount of life insurance a family would need if the bread winner died too soon and how much would be needed for a sound retirement. Here the instructor emphasized the KISS formula (Keep It Simple and Sincere), so as to not confuse the prospect.
There was a CLU in the class recruited from New England Mutual. Mr. CLU stated that when he visited with a prospect, he always wrote on the top of a blank sheet of paper used for notes — 6 P’s. Later on in conversation, he indicated it stood for “Prior Proper Planning Prevents Poor People”. Usually, a breadwinner, at that point, settled down and considered the family’s future needs.
Looking back, I must say it was a great school and a steppingstone into my insurance future. Also, the 6 P’s are still affirmed today.
David H. Burke, CLU