Life insurance protects by providing a means to:
- Pay for funeral expenses
- Pay the on-going monthly bills
- Pay off outstanding debts
- Continue a family business
- Finance the children's education
- Protect a spouse's retirement
Life Happens, the official sponsor of LIAM, conducted a survey in late May of this year: 66% of the participants said the pandemic has increased their understanding for the value of life insurance. Nearly 25% of the survey participants said they had purchased life insurance for the first time because of the pandemic. Nevertheless, 43% of people are not protecting their loved ones with life insurance yet.
Many life insurance carriers have perfected online applications and electronic policy delivery, so social distancing in the sales processes is accomplished. And with the accelerated underwriting possibilities, your clients may not need to meet with a paramed examiner either!
The bottom line is that life insurance is one of the only products available that can meet the need to financially protect your clients. Your clients and prospects are more open to purchasing life insurance, and carriers are making the transaction easy and painless as ever. So, what are you waiting for? If you’re not talking with them about it, someone else probably is!
