I want to show you something that I think will help some of you.
Let’s talk about an avg sale. The client wants to protect their love ones if something happens to them. Most clients only think about covering the cost of a funeral and paying off the home. Some of them even think about the kids going to college
But a lot of clients are not protecting their family members enough.
Example. If a husband is making $120,000 a year. We need to also account of the loss of his income. Sure the house will be paid off and the cost of the funeral taken care of, but is that really enough? The answer is NO!!
The wife will now be without the husband’s income forever. She has grown accustom to her lifestyle and now the income is gone. Even if she is working also, the income that he was bring in is now gone.
The question is how many years income does she need until she either replaces his income or don’t need as much. The house is paid off now, but that only takes away the house payment. Nothing else. The rest of the bills still come in each month.
Again the problem is that a lot of agents and clients are only thinking paying off the house and paying for the funeral. This is a huge mistake.
You need to talk to your client about insuring the current income for a while also. When I got a policy on myself, I also included 5 years of my income at the time into the policy. I wanted to make sure she would at least have the same thing coming in for 5 years after I am gone and have the home paid off, the funeral taken care of and I also included some college money for the kids and a little more then what I thought she needed.
I’ve went back a couple of times since to make sure that I’m leaving her enough. Later down the road when the kids are gone and the house is paid off, and I’m still alive, I will go back and lower the face amount maybe.
I just want you to make sure the client is buying enough life insurance.
Let’s talk about an avg sale. The client wants to protect their love ones if something happens to them. Most clients only think about covering the cost of a funeral and paying off the home. Some of them even think about the kids going to college
But a lot of clients are not protecting their family members enough.
Example. If a husband is making $120,000 a year. We need to also account of the loss of his income. Sure the house will be paid off and the cost of the funeral taken care of, but is that really enough? The answer is NO!!
The wife will now be without the husband’s income forever. She has grown accustom to her lifestyle and now the income is gone. Even if she is working also, the income that he was bring in is now gone.
The question is how many years income does she need until she either replaces his income or don’t need as much. The house is paid off now, but that only takes away the house payment. Nothing else. The rest of the bills still come in each month.
Again the problem is that a lot of agents and clients are only thinking paying off the house and paying for the funeral. This is a huge mistake.
You need to talk to your client about insuring the current income for a while also. When I got a policy on myself, I also included 5 years of my income at the time into the policy. I wanted to make sure she would at least have the same thing coming in for 5 years after I am gone and have the home paid off, the funeral taken care of and I also included some college money for the kids and a little more then what I thought she needed.
I’ve went back a couple of times since to make sure that I’m leaving her enough. Later down the road when the kids are gone and the house is paid off, and I’m still alive, I will go back and lower the face amount maybe.
I just want you to make sure the client is buying enough life insurance.
with one eye open!
