Too Old For Life Insurance?

In 2008, I lost my Father to a fast moving cancer. Dad was 85, and had lived a good long life. He worked hard, played hard and was always an excellent role model. I am proud to have had him as my Father, mentor, and friend.

First off, the client needs to see the value of having a policy and protecting the people they care about. Any life insurance I have I look at as an asset and not as a monthly expense each time I make a premium payment. It’s important you talk in terms that the client is creating an instant asset for their family and not an expense.

One way to plan for these expenses is with a burial policy. Sometimes these are also called funeral or best final expense insurance. What are they? They are actually insurance policies with a fairly modest death benefit. The cash is intended to be used to pay for end of life expenses.

Many funeral homes require embalming if you’re planning a viewing or visitation. But embalming generally is not necessary or legally required if the body is buried or cremated shortly after death. Eliminating this service can save you hundreds of dollars.

Don’t fool yourself thinking you’re to young to buy insurance you’re not! Accidents and death can occur anytime, anywhere and your age means nothing! I learned this lesson the hard way in 2005 when an uninsured driver hit me.

Instead of underwriting by asking health questions, a guaranteed issue policy will use a graded death benefit. This means that the policy will specify a period of time, 2 – 3 years, before the full benefit may be paid out. Before that, the policy may return premiums, and some may even pay interest on the premiums. But i order to get the full face amount of the policy, the insured person must survive the specified time period.

It is very important to ask probing questions to get the client to tell you. This is where most agents fail. Agents usually tend to do the telling in the selling process and by telling the client instead of having them tell you, in the end the client doesn’t take ownership to the sale and the sale is lost.

Effective marketing of the internet is a powerful way to be seen by final expense leads. While using the free methods like articles and videos, you will be creating an on-line persona that will be remembered by your customers when they are in need of your services. You can learn to do these things easily. You would also benefit by finding a solid marketing and mentoring group to help you through the learning curve.