It’s officially 2021! With one year ending and another one beginning, your clients may be reminiscing the recent changes they have faced and considering what additional changes they may soon undergo. Changes like growing your family, buying a home, or changing your career may leave your clients’ current life insurance policies looking sparse. During this time of new beginnings, make sure that you are actively reviewing clients’ life changes and life policies to ensure that they have the coverage they need!
Growing Families
Did you know that as families grow, their coverage should, too? Life events like getting married or having a child can drastically change the amount of coverage that a family needs. Whereas a single person with no dependents and minimal debt may only need a small policy that covers final expenses or funeral costs, a married individual with kids may want enough coverage to not only provide for their partner, but also perhaps to send each of their children to college. Any time your clients’ families grow or change, it is a smart idea to help them review their policy and decide if it’s time for them to take out additional coverage.
Purchasing New Homes
Taking out a mortgage is serious business! A home is often the most expensive purchase an individual or family will make, so when your clients invest in something as important as a home, it is not only important that they protect it with casualty insurance but they should also protect their family’s ability to keep it if something were to happen to you. If your client finances a new home, make sure that their life insurance policy is large enough to alleviate some financial burden for your family in case of an emergency.
Changing Careers
Life insurance, in its simplest forms, provides coverage for final expenses and replaces a breadwinner’s income if the policyholder passes away. As your clients climb the corporate ladder or experience a change in their annual income, they will likely adjust their budgets to accommodate the sudden changes in pay. When your client experiences an increase in their income, it is important to help them reevaluate their current life insurance policy to ensure that their family would continue to receive enough money to live comfortably for several years.
Agents
We hope this information on reviewing clients’ life changes and life policies is helpful to you.
Empower Brokerage is dedicated to helping you educate your clients on the insurance they need and staying on top of their health. Whether it’s through webinar training, one-on-one calls, seminars, or marketing plans. We want you to be successful. Give us a call if you have any questions at 888-539-1633.
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Originally from the snow-capped Rockies, Macee moved to Texas in 2016 to pursue an undergraduate degree in Strategic Communication. She currently serves as a writer and editor for Empower Brokerage, as well as the marketing manager for Preferred Senior Advisors. Macee is also working on her Master’s degree in management, and hopes to inspire others with her passion for telling stories through varied digital and print marketing efforts.
