When I met Randy he was 28 years old. He was working in the family business and had been there for just over 4 years after graduating from university. I was referred to Randy by one of my clients and the company was interested in starting a group insurance plan for its employees. Randy was given the task of implementing the new group benefits program. I designed a complete benefits program that included Group Life Insurance, Long Term disability, Extended Health care and Dental coverage. Randy thought the benefits plan would help the company attract and retain the best employees.

I asked Randy if he would like to discuss business life insurance. He explained to me that he and his brother had agreed to buyout their father over the next five years. Randy shared with me the company’s financial statements and I determined that both he and his brother Brian needed to both buy one million dollar life insurance policies. When I shared my analysis with Randy he just laughed at me and said “there is no way I’m buying a one million dollar policy”. I looked him straight in the eye and said I promise you that within five years you and your brother will buy one million dollar policies to protect your families’ income. Over the next few years Randy and I became close friends and we spent a lot of time playing golf.

Four years later Randy and Brian secured life insurance policies on each other as part of their buy-sell agreement. I truly believed that I was providing excellent products and service to my client. Their business was expanding and “their future look so bright they had to wear shades”.

I had been working with Randy for 14 years when he called to tell me he had been diagnosed with cancer. The last time I saw him he asked if I could come over to review his policies. He told me he was doing well and that he was going to beat the thing! He wanted to review his affairs and make sure that everything was in order. The following week he passed away. He was 49 years young.

When I delivered the one million two hundred and forty thousand dollar death benefit to his wife we both sat in the kitchen and cried, it’s not hard to sell the life insurance, but it can be absolutely heartbreaking when delivering the death benefit cheque to the beneficiary.

During 2014, payments to Canadian beneficiaries from Life Insurance totaled: $ 8.6 billion. *

* Canadian Life and Health Insurance Facts 2015.