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As an insurance professional you are on the lookout for wealthy prospects.  Doesn’t “wealthy” sound better than “rich?”  The industry term is “High Net Worth individuals.”  Let’s not forget the acronym “WOOFs” which is short for Well Off Older Folks.  All these terms have an inherent problem.  People do not identify with them.  You need a better expression.

Why don’t people identify with them?  High net worth sounds like “more money than you have got.”  If you consider HNW individuals as people with plus-$1 million, the guy with plus-$1 million thinks you are talking about people with plus-$5 million.  “Rich” and “wealthy” are words that cause problems too.  Some people think if you advertise yourself as “wealthy” you are bragging and inviting trouble.

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