It seems like a no-brainer, but the logic escapes many people these days.
Short-sighted spending has a regrettably obvious appeal: never mind tomorrow, live for today. The flaw in this reasoning, if we can call it that, is pretty obvious. No one knows what tomorrow may bring.
Your clients, particularly the young variety, might claim they can’t afford the regular payments of a life policy. In fact, they can get started for as little as $25 a month. They’re likely waiting for you to spring the old “you can’t afford not to insure yourself” pitch, which is a shame, because it’s true. Give it to them straight: if you die, your family is on the hook. To avoid saddling loved ones, particularly a spouse and children, with that heavy burden, you need to act today.
So first and foremost, breadwinners for families need life insurance. Who else can’t afford to go without? Anyone who’s had another person cosign a loan for them falls into this ‘no exceptions’ category. One of the worst tricks you can pull in life is get someone to trust you and then pull a trick like dying. When a party cosigns a loan, they’re trying to help you in life, not cripple themselves financially in the case of your death.
If you encounter a potential client who is young, hale and hearty, they may use that as a counter-argument to your sales pitch. In fact, the young and healthy are particularly well positioned to take on a life policy. They’ll pay the lowest rates, while getting a jump on many of their peers by launching an important part of their portfolio. It’s an uncomfortable conversation to have with a youthful client, but they need to understand how quickly things can change in life, and how well they need to be prepared.
For more information, please read:
Wondering Why You Need Life Insurance? Here Are 4 Reasons Why | Making Sense of Cents