10 reasons for buying life insurance you should include in client conversationsArticle added by Anna Giambattista on August 9, 2013

Anna Giambattista

Hartford, CT

Joined: July 12, 2013

By talking through each of these reasons with your clients and prospects, you can ignite a fire for taking action and purchasing life insurance policies.

Let’s talk about discussing life insurance with your clients. It’s never a fun conversation to have. But when you sit down with a client and have their best interests in mind, you may find that they realize life insurance is something they not only need, but also truly want to protect their family, dependents, business and legacy. What's going to make them realize this? Here are top 10 reasons for buying life insurance that should appear in your conversations with clients.

1. You never know

Dying suddenly — in an accident, of an unexpected illness or even of natural causes — can happen at any time. Life insurance helps your loved ones pay the mortgage, bills, even college costs, after you’re gone. It also provides tax-free cash to pay estate and death duties. Nothing can replace you in their hearts, but planning ahead with life insurance can make things easier for those you leave behind.

2. Funerals are expensive

In some cases, funerals can cost upwards of $7,000 to $10,000 — and we’re not talking about extravagant funeral services. This is the average cost of a burial ceremony that will be attended by your loved ones. At an already difficult and emotional time, your life insurance can cover these expenses without financial hardship or further stress.

3. Protect those you love

In your life, you work hard to make sure those you love — spouse, partner, children, family members — are taken care of. It’s just as important to consider providing financial support for the future living costs of surviving dependents. After all, they will have to go on without you. Make sure they’re protected.

4. Death shouldn’t mean debt

Life insurance can help your dependents cover any financial responsibilities that are left after your death. Debt can be a tremendous burden, on top of the already emotional toll your absence will have on their lives.
5. Anything can happen

If you develop a serious illness, you may not be able to get the life insurance you need. But if you have life insurance already, then a terminal illness can be better handled financially. Life insurance can also be used in case of emergencies by requesting a withdrawal or loan.

6. Take care of business

Life insurance isn’t just for individuals. It can protect a business from financial loss, liabilities or instability in the case of the death of a business owner or partner. Whether providing necessary short-term cash or keeping operations going until things settle, life insurance can be invaluable in maintaining the business you’ve worked so hard to build.

7. Supplement your retirement

You can use life insurance to make sure your retirement savings lasts as long as you do. An annuity is like a do-it-yourself pension plan; you put an amount of money into a life insurance product and in return, you get a guaranteed stream of income month after month, for as long as you live.

8. It makes financial sense

Life insurance is considered a financial asset, which can help increase your credit and help you to get a loan or health insurance. Many policies have cash value, which even in cases of bankruptcy, cannot be touched by creditors.

9. Give to charity

Life insurance can enable you to leaving a lasting gift to a favorite cause or charity that is much larger than you would otherwise set aside for donation.

10. Peace of mind

It's plain and simple: No amount of money can ever replace a person. But more than anything, life insurance can help provide protection for the uncertainties in life.

By talking through each of these points with your clients and prospects, you can ignite a fire for taking action and purchasing life insurance policies.
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