Mastering the Discovery Conversation: Vital Questions for Insurance Professionals

Hey, y’all! It’s your Cajun mentor here, serving up some spicy wisdom for all you insurance agency owners out there looking to make your business thrive. Today, I’m sharing the art of the discovery conversation. These essential questions will not only build trust but position you as the go-to advisor for your clients’ financial and life planning needs. Grab a seat and let’s dig in!

Building trust with your clients starts with mastering the discovery conversation. Asking thoughtful, tailored questions not only helps you understand their needs but also establishes your expertise as an insurance professional. For those looking to refine their approach, Universe of Coverage and Insurance Agent Tool Kit offer practical strategies to help you engage confidently and close more effectively.

Why Do You Need Permission to Ask Questions?

Before diving in, always start with:
“Mr. Prospect, may I have your permission to ask a few questions that will be valuable for our visit?”
This simple step earns respect and sets the stage for a collaborative conversation. Clients rarely say no to this approach, and it ensures you’re starting off on the right foot.

Have You Updated Your Will?

One of the most critical questions:
“When was the last time you updated your will?”
Many folks either haven’t updated their will or, sadly, don’t have one. I always remind them that in my home state of Louisiana, you can’t die without a will—you can only die without your will. This discussion opens the door to educating clients on the importance of estate planning. If they have a will, ask:
“Do we have a copy on file?”
Your office should aim to archive all vital client documents securely.

Do You Have a Living Will?

“When was the last time you updated your living will or medical directive?”
Explain the purpose of a living will: allowing a person to make decisions about life support in advance. It’s a respectful and loving act to spare family members from making heart-wrenching decisions. Again, ask if you can keep a copy on file.

What Happens If Your Last Paycheck Was Your Last?

This is a showstopper:
“If your last paycheck was your last, where would your family or loved ones be financially?”
Let this question sit. The silence gives clients time to reflect, and it often sparks a deep and meaningful discussion. Given today’s financial realities, many families don’t have even 1.5 months of income saved. This is where you step in as their trusted guide.

Have You Reviewed Your Retirement Accounts?

Ask:
“Do you have a 401(k) with your current or previous employer?”
Many people have old 401(k)s gathering dust. Offer to help them roll these over into a plan that works for their goals. Follow up with:
“Have you taken advantage of your Roth IRA opportunities?”
A quick, simple explanation of the tax benefits can position you as an invaluable resource.

Are Your Life Insurance Beneficiaries Up to Date?

“Are the beneficiaries on your existing life insurance policies up to date?”
This question is a twofer: it reveals whether they have life insurance and how they feel about their relationships. It’s also an opportunity to ensure their policies align with their current priorities.

Which Companies Are You Working With?

“Which companies currently hold your insurance plans?”
This isn’t about replacing policies unnecessarily. Your goal is to identify gaps in coverage and ensure their existing policies fit into a comprehensive plan. Always maintain your integrity—encourage clients to keep well-structured policies they already have.

Who Are Your Trusted Advisors?

“What is the name of your CPA, attorney, or other trusted advisors?”
Gathering this information ensures you have a full picture of their financial landscape. It also makes collaboration with their other advisors seamless, benefiting the client.

Should We Exclude Anyone from Financial Discussions?

“Are there any individuals we should NOT discuss your financial matters with?”
This question protects you and your clients. It’s a sad reality, but after 26 years in the business, I’ve seen it all—suspicious family members, meddling acquaintances. Knowing who to trust is crucial.

What Real Estate Do You Own?

Ask about their home and other properties:
“Do you own any real estate you don’t live in?”
This helps in assessing their assets for a financial needs analysis. Follow up with:
“Do you have these documents on file with us?”

Why Do Discovery Conversations Matter?

Every client conversation is an opportunity to deliver unparalleled value. These questions, when asked authentically, build trust and uncover ways to serve your clients better. Here’s the thing—practice makes perfect. Just like a great gumbo, it takes time to get it right. Rehearse these questions until they flow naturally, and always keep your eyes on the client—not a computer screen.

What’s Your Commitment to Excellence?

As the great Coach Bobby Knight once said:
“Everybody wants to be a champion, but no one wants to come to practice.”
If you commit to two discovery conversations a day—one before noon and one before 6 PM—you’ll achieve more than you ever thought possible. Marvelous performance isn’t accidental; it’s intentional.

Improving your discovery conversations can transform your client relationships and boost your success rate. If you're looking for additional tools and insights, Universe of Coverage and Insurance Agent Tool Kit are designed to help insurance professionals ask better questions, identify client needs, and close more deals with confidence.

Final Words from Your Cajun Mentor

Folks, the difference between a good agent and a great one is the ability to connect with clients authentically. These discovery questions are your script. Stick to them, practice daily, and always strive to be better. Remember:
“We must make our habits, and then our habits will make us.”

Now, go out there, make a difference, and don’t forget—peace, love, and gumbo!
– Marvin LeBlanc, LUTCF, CNP