Determining the correct amount of life insurance protection remains a mystery to many. Recent studies show that most adults continue to lack adequate amounts of coverage – and close to two-thirds admit to not even having a personal life insurance agent.
A careful planning session that includes a survivor needs analysis is a rarity in the modern financial world.
As a result, millions of Americans shuffle through their daily lives totally clueless as to the potentially disastrous consequences awaiting their loved ones if their life is cut short, which is precisely what happens to approximately 25% of adults before they reach age 65.
Historically, there have been four “classic” methods for determining survivor needs:
Part of our job as insurance professionals is to help our clients and prospects identify needs they may have previously overlooked. Your Life Sales Rep can provide an excellent Financial Analysis Fact Finder to help steer you and your clients through this vitally important process.
Different categories include:
While not every question or category will pertain to any given client, the depth of the fact finding analysis forces both agent and client to consider all potential items that may have relevance to their financial situation. At the end of the process, clients feel a sense of ownership in the process as the assumptions are based on information they provided.
Make sure you’re prepared to help steer your clients through this vitally important process.
Contact your Life Sales Rep to learn more about our fact finding tools and how we can help you zero in on the true need for each of your clients.