February is more than just a month of love and heart-shaped chocolates; it’s also a perfect time to reflect on one of the most meaningful ways to demonstrate love: by ensuring the financial security of those closest to you.
The motto “Insure Your Love,” spearheaded by Life Happens, highlights the deep connection between love and life insurance. And it’s not just for February. This initiative reminds us at any time that securing life insurance for your clients isn’t just a financial decision; it’s a profound act of love.
Life insurance is a powerful opportunity to open conversations with your clients about the importance of protecting their families. By helping clients see life insurance as “love insurance,” you can connect with their values and inspire them to take actionable steps toward a more secure future.
Life Insurance as Love Insurance
“Insure your love” underscores a simple yet moving message: love is the primary motivation for buying life insurance.
Consider this: The passing of a loved one is already an emotionally overwhelming experience. Add financial uncertainty to the equation, and it makes the burden even more significant. Emphasizing the importance of life insurance in your client conversations can help alleviate that weight by providing a financial safety net and ensuring that their families can maintain their quality of life, even if the unexpected occurs.
Life insurance is unique in its ability to act as a financial promise. It’s a commitment to loved ones that they’ll be cared for no matter what. Remember, life insurance is an investment in your clients’ futures. It can cover expenses such as:
- Mortgage payments
- Education costs
- Everyday living expenses
- Final expenses like funeral costs
By investing in a life insurance policy, clients can declare, “I’ve got you covered, even when I’m not here.” It’s about creating a legacy of care, responsibility, and love.
Related: Inflation’s Impact on Life Insurance: 2 Tools for Financial Professionals
How to Talk to Clients About Life Insurance
For financial professionals, the “Insure Your Love” message serves as a reminder of the critical role life insurance plays in a comprehensive financial plan. Yet, life insurance is often overlooked or delayed in client conversations. Why? For many, it’s an uncomfortable topic that’s tied to mortality. Others might perceive it as a “back-burner” issue, thinking they’ll address it later.
This is where you have an immense opportunity to reframe the narrative. By positioning life insurance as a gift of love and security rather than just a policy, you can help clients overcome these mental hurdles.
Here are three ideas to effectively bring up life insurance in your next client discussion:
#1: Frame It Toward Loved Ones
Remind clients that purchasing life insurance isn’t about them; it’s about their families and loved ones. Ask thought-provoking questions such as:
- “If something were to happen to you tomorrow, would your family be financially prepared?”
- “What steps have you taken to secure your loved ones’ futures?”
These questions can help clients consider their legacy and prioritize their family’s well-being.
#2: Share Real-Life Examples
Stories, videos, and testimonials can be powerful motivators. Share examples of families who benefited from life insurance during difficult times or, conversely, the struggles of families without it. Highlighting real-world impacts can make the need for life insurance more relatable and urgent.
Don’t have any that come to mind? You can create a Life Happens account to access life insurance videos, campaigns, and other content highlighting the real-world value of life insurance.
#3: Highlight the Flexibility of Life Insurance
Many clients may not realize the versatility of life insurance policies. Beyond providing a death benefit, some policies offer living benefits, cash value accumulation, and options for long-term care funding. Educating clients on these additional benefits can make life insurance a more attractive and practical choice.
Related: Whole Life Insurance as an Asset Class: 10 Things to Consider
Overcoming Client Hesitations
Despite its importance, some clients may still hesitate to purchase life insurance. Common objections may be:
- “It’s too expensive.”
- “I’m too young and healthy to need it now.”
- “I don’t want to think about my death.”
Address these concerns by:
- Comparing it to other costs: Show clients that life insurance is often more affordable than they think. For example, a healthy 30-year-old could potentially secure a $500,000 term life insurance policy for less than the cost of a monthly streaming subscription or a week’s worth of Starbucks coffee.
- Emphasizing timing: Convey that purchasing life insurance when young and healthy can often results in lower premiums. Waiting can lead to higher costs or limited options.
- Shifting the focus: Reframe the conversation to focus on the positive—the act of love and financial peace of mind it provides rather than the topic’s morbidity.
A Call to Action, A Call to Love
As a financial professional, your role goes beyond helping clients build wealth; it’s about protecting what they’ve built and ensuring their loved ones’ futures remain secure. Life insurance is a cornerstone of this mission. By consistently mentioning life insurance, you’re helping clients take proactive steps toward financial security.
The Insure Your Love campaign reminds us to revisit life insurance discussions with clients. Whether through one-on-one meetings, marketing campaigns, or educational workshops, there are numerous ways to incorporate this important message into your practice.
Encourage your clients to view life insurance as an essential part of their financial plan and an enduring act of love. By doing so, you’ll help them protect their families and strengthen your role as a trusted financial professional.
Remember: Life insurance isn’t just a financial tool; it’s a testament to love, responsibility, and foresight.
