3 Tips For This Must-Have Difficult Discussion

Almost no one wants to talk about death and dying. And when you talk about life insurance, it’s kind of hard not to think about your mortality or that of those you love. In spite of this, life insurance is something that really should be discussed. Here are a few reasons why it’s important to talk about life insurance, as well as some tips for broaching the subject with your loved ones.

Familial Financial Protection

The primary reason to take out a life insurance policy is to ensure your dependents will be financially secure should you die prematurely. The right coverage will replace your income for a period of time should you suffer this unfortunate fate. It’s important and responsible to both protect your family’s financial well-being and make sure they understand they are protected and how.

1. Educating Your Children

Beyond ensuring your dependents know they will be cared for should you pass away unexpectedly, it’s important to talk about life insurance with your children so they’ll know how to acquire it when the time is right for them. Millions of Americans know too little about life insurance and are either uninsured or underinsured. Help prevent your children from one day falling into this trap by educating them around the importance of having life insurance. If you’re on the other side of this coin, an educated adult who is worried his or her parents don’t have life insurance and should, you can try to educate them on the importance of the matter.

2. Set Aside Time to Discuss

Broaching the subject of life insurance can catch a loved one off-guard. Instead of bringing up life insurance and discussing it all at the same time, mention to your dependents that you would like to talk to them about life insurance at a specific time and date that works for them.

3. Make Discussion Goal-Oriented

Should your life insurance policy need to be cashed out on, it’s important for your family to use the money they receive wisely. When discussing life insurance, focus on your financial objectives and your family’s financial priorities. These may include basic needs, paying down a mortgage, and education costs.

Offering your clients advice on discussing insurance with their family may make you seem like a more approachable broker. For other strategies and tips that can help you earn your clients’ respect and trust, explore Brokers Alliance’s resources. Call us at (800) 290-7226 to learn more about our tools and resources for independent brokers.