February and Valentine’s Day are perfect times to remind clients to protect loved ones through proper life insurance planning. Here are 3 easy ways to help consumers remember to “insure their love”.
It’s time to talk about life insurance
Life insurance is a very emotional decision that families need to talk about. You can help your clients start these conversations with educational content provided by Life Happens, a non-profit organization dedicated to helping educate consumers about the importance of life insurance.
Remind clients that it is a good time to review coverage
The National Association of Insurance Commissioners (NAIC) suggests that consumers regularly consider a life insurance policy review to determine if the coverage in their policy is still appropriate for their situations. Industry research shows younger generations are less likely to have coverage and more likely to live with a life insurance coverage gap. Overall, 52% of American adults report owning life insurance, and 41% of adults — both insured and uninsured — say they don’t have sufficient life insurance coverage.
Help your clients review their needs. A quick email or call to check in on their family, health, marital and housing status can help start a life insurance policy change conversation.
Have clients notify their beneficiaries
Encourage your clients to review their life insurance beneficiaries and let their chosen beneficiaries know of the policy, how much it’s for, and where they can find the details in the event of the client’s death. A survey by the National Association of Insurance Commissioners (NAIC) found that billions of dollars in life insurance benefits go unclaimed because beneficiaries are unaware of the coverage or don’t have basic information about the policies.
A life insurance policy is often referred to as a gift of love, so during the Valentine season, it makes sense to encourage prospects and clients to show their love with the protection of life insurance. Protecting their future lasts much longer than chocolate or flowers.