Your Clients Need To Reassess And Reevaluate their Life Insurance Coverage If They Have…
- Gotten married.
- Gotten divorced.
- Had a child.
- Adopted a child.
- Gotten a new job.
- Gotten a promotion or a pay raise at work.
- Bought a house.
- Taken out a loan.
- Children planning to go to a more expensive college than you anticipated.
- Children who no longer depend on you financially.
- A change in your health or wellness (such as losing weight, quitting smoking, or overcoming a medical condition).
All of the above can affect how much life insurance coverage is right for your clients. Typically, as your clients net worth increases, they will benefit from increasing their coverage. Likewise, if their family’s income needs decrease, you might benefit from lowering their amount of coverage.
Here are a few key areas that you may want to discuss with your clients:
- Life Insurance
- Long-Term Care Insurance
- Disability Insurance
- Medicare Supplement Insurance
Your clients also need to consider contributions to their retirement plans. Below are key dates and contribution limits for the upcoming tax season.
ProducersXL does not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.