The benefits of life insurance are apparent, but the reasons why owning or increasing coverage may need to be more evident to the average American. Hence, these are great reasons to contact your current client base to cross-sell and gain referrals.
- Marriage: It is always a logical time to purchase life insurance since there is now a sharing of both a household and finances. New debts are probably acquired, and newlyweds should consider adequate coverage to leave a survivor financially secure.
- Mortgage Protection: If the primary income earner of your family were to pass away, a life insurance policy could provide the funds to pay off a mortgage or the investment income to pay the monthly mortgage.
- Chronic Illness Benefits: Modern life insurance policies can generate funds to help cover long-term care or chronic illness expenses.
- Parenthood: Should one or both parents become deceased, having enough life insurance to pay for groceries, school expenses, and a college fund is a goal for most parents.
- Job Change: Those who change jobs face inadequate benefits, which can create uncertain financial security, or they may have a greater need for asset protection and coverage because of increased salary and lifestyle; adding additional coverage can protect the family’s standard of living.
- Supplemental Retirement Income: Cash value accumulation of permanent life insurance may be helpful as an emergency fund or a potential income source during your lifetime. Life insurance can provide tax-free income for you in retirement.
Please don’t hesitate to reach out if you’d like a quote for any of your clients for these and other reasons. We’re happy to help.