2021: Pulling it All Together in Life Insurance
Presented by: Karen Fergen, CLU
IA Course #105818
NE Course #6000075751
CFP Course #276883
Do you know that 30% of U.S. households have no life insurance at all and 50% of U.S. households (58 million) say they need more life insurance? At the same time, the average amount of coverage for U.S. adults has declined to $167,000. As a life insurance professional, a commitment to having a daily life event conversation will keep you aligned with what is happening in your customer’s lives and what they may have for potential needs. Every day and every interaction focus with prospects and customer are what separates the amateur from the professional.
Therefore, having a conviction plus belief in the purpose of life insurance and then understanding life needs assessment tools is the start towards building your life insurance skill set. We will dig into the uses, policy provisions, features and benefits of term insurance, universal life and whole life coverage. Aligning the proper life insurance contract with the total needs of the customer is the objective of a professional.
60% of American’s lack the presence of a will, power of attorney, medical directive, or estate planning trust documents. We will review irrevocable life insurance trusts for a single or married person along with options for the terminally ill. We will also examine the Gift of life insurance and the Internal Revenue Code exchange and endowment rules.
Life insurance is a long-term product that can assist a customer with their “cradle” to “grave” needs. We will look at 4 key Life Cycle case studies. A comprehensive look at the customer data, customer needs, and customer goals will assist in determining options and life insurance product recommendations for each Life Cycle stage.