September 5, 2024
LIAM: Ensure Your Clients’ Peace of Mind with an Annual Life Insurance Checkup
When was the last time you did a life checkup with your clients?
An annual “Life Checkup” can uncover your clients’ ever-changing life insurance needs. Insufficient coverage has grave consequences for countless families. By conducting an annual “Life Checkup” with your clients, you can uncover their evolving life insurance needs and help them prepare for “Life Happens.” Consider this:
Many of your clients are familiar with the increased need for life insurance and are already aware of their deficiency.
Take a look at what Life Insurance means to our customers.
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Some statistics to consider:
- About 51% of adults in the U.S. have life insurance as of January 20241.
- 41% of adults report not having sufficient life insurance coverage2.
- 44% of American households would encounter significant financial difficulties within six months if they lost the primary wage earner, and 28% would reach this point in one month or less2.
- Over half (52%) of Americans said they don’t have life insurance because it’s too expensive2.
- 82% of Americans overestimate the cost of a policy, with the largest majority incorrectly guessing the cost to be three times as high2.
What does this mean for you?
It’s up to you to take the initiative.
September is Life Insurance Awareness Month and a great time for a life checkup.
By staying proactive and conducting regular life checkups, you can help your clients ensure they have the coverage they need to protect their families and achieve their financial goals.
Conducting a life checkup may provide your clients the peace of mind of learning that their life insurance is sufficient for their goals. You might also help them identify a gap in coverage and find solutions to help ensure they meet their lifelong dreams. Customize the checkup to reflect their particular needs. Make them aware of riders available to provide protection for the client and their family if they should die too soon, become ill or injured, or are concerned they may outlive their retirement income.
Get started by asking your clients if they recently:
- Purchased a new home
- Had a baby or adopted a child
- Had a death in the immediate family
- Received an inheritance
- Started planning for college savings
- Married or divorced
- Purchased or sold a business
- Became an empty nester
- Received an increase in income
- Needed supplemental retirement funds
Tools and Resources
Calculate How Much Life Insurance You Need
