Life Insurance

Life insurance and Children

Is purchasing life insurance really necessary for a child?   Some financial experts argue that money spent on life insurance for children could be better spent investing in college plans or other investment accounts. Here are three reasons why life insurance makes good financial sense.
  1. Final Expense: In the traumatic event of an early death of a child, a life insurance policy can provide proceeds to cover funeral and burial expenses.  For many families, the cost of paying the burial expenses out of pocket could be problematic.  The final expense costs can easily exceed $8,000.  Not all clients have access to that kind of money to pay for a funeral.
  2. Medical Expenses: The death benefit can be used to cover medical costs that may exist prior to the child’s death.  The top causes of death of children under the age of 18 are accidents and certain specific illnesses – both would incur medical costs.
  3. Insuring Coverage: Purchasing a life insurance policy for a healthy child is relatively inexpensive.  If for some reason the child would develop a serious health condition later in life they may be unable to obtain coverage.  Many carriers offer guaranteed insurability riders that allows for buying additional coverage with no underwriting.
Look at purchasing life insurance on a child as a gift for as little as $10/month for these exact reasons.
Life Insurance

Educate the Public About the Value of Life Insurance

If your clients and prospects were better informed about life insurance, do you think your job of selling would be easier?

I read an interesting article recently about the cost of insurance.  The article describes a survey that asked consumers to estimate the cost of a 20 year, $250,000 level-term life insurance policy for a healthy 30-year old. Their answer was about $400 annually.  The actual cost is half of that – around $190 annually.

Our job is, in part, one of educating and informing the people we work with about the value of and the remarkable affordability of today’s life insurance.  If the public were better informed about insurance it would make our jobs easier.  If we can demonstrate the real cost of life insurance and help them understand why it is important to have coverage for their families, the natural result will be more prospects and better sales.

So if the population thinks life insurance is expensive or they don’t really need it, it is our job to educate them.  Think about how you can expand your efforts to help educate your clients and your community about the importance of life insurance. An active approach to  this can lead to more business for you.

John Schraut, Life Sales Manager

Life Insurance

Make Life Insurance Profitable (even when it’s not your…

We work frequently with P&C agencies to show them how easy it can be to sell life insurance.  Remember, existing P&C clients (works well for banks, CPAs, etc.) already trust you or they wouldn’t be an existing P&C client!  And, when they trust you, it makes the life insurance sale a natural part of your conversation with them.  In fact, if you’re not already having those discussions, you may actually be doing a disservice to your clients.  If it’s important to insure their home, their car and other personal belongings, how can insuring their life be overlooked? So, now that I’ve said it’s “easy”, how do we define that??  1) You’ve already done the prospecting because they’re already your client! 2) Financial Brokerage can create and brand life insurance-focused web pages for you to embed in your current web site 3) FB can also provide to you professional marketing materials to get your clients thinking about life insurance 4) We offer full-featured term quote engines, needs analysis tools and budget calculators that allow clients visiting your site to perform their own research and 5) We offer a robust e-mail marketing tool and provide client-facing e-mail newsletters  for you…all you have to do is provide the client e-mail addresses and send ’em out! and 6) And this is a big one…we have all the electronic tools that make it easy to write the app, which I’ve “blogged” about in the past.  No paper!!  In fact, you may not even need to ask all the awkward health questions (you know the type, “now what was the size of that boil again??”) So, you’ve already got the clients and we provide everything you need to market life insurance and complete the sale in, say, ten minutes.  What’s not to like about additional revenue?!?!  And, if you’re not writing the life insurance, someone else is, and maybe it’s another P&C agency…and when they do, they slowly start to become “creepers”…creeping into a relationship with your client.  That doesn’t sound so good, does it? Contact us at 800-397-99999 and ask for Kevin Kusleika, Senior VP and CTO or Sarah Stewart, COO to find out how we can help you help yourself!