A mortgage is usually the largest single debt a person would leave behind if they died too soon. With no income, the family’s largest monthly bill might become impossible to pay.
Wouldn’t you have the same problem if you were diagnosed with a life threatening condition like cancer, a heart attack or a stroke? Disability policies help some but most don’t until pay until 90 or 180 days after a diagnosis. Health insurance covers some expenses but does not replace lost income. In fact, 62% of bankruptcies are filed for medical reasons, and 78% of those involved people that actually had health insurance.
Several life insurance companies now include critical illness benefits in their term life insurance policies. They pay a portion of the death benefit upon diagnosis of a critical illness like cancer, heart attack, stroke, kidney failure and several other life threatening conditions. Go through your book of business (even old prospects) and make sure they have a policy that covers against this threat as well.
