LIFE INSURANCE AWARENESS
Life Insurance from page 28
As you know, life insurance and various riders can offer real
flexibility to meet clients’ specific needs, such as help with
unemployment, access to cash value* in case of an emergency,
or a host of other ways to get through tough spots like the one
we’re experiencing now. This moment is an opportunity to share
— with current and prospective clients — just how important the
protection we offer can be to their quality of life and their ability
to maintain it.
Time to talk about the future
We know people are seeking security. So it makes sense to
discuss their long term care options as well, especially with people
living significantly longer than ever before. Just think … right
now, a 65-year-old can expect to live another 19 to 21.5 years, on
average, according to the Social Security Administration. What’s
more, the government agency says a third of 65-year-olds will hit
age 90, and 1 in 7 will live beyond age 95. 5
And believe it or not, being healthy may mean that you’re more
likely to need care. The healthiest people are often the ones that
end up needing long term care assistance later in life 6 — simply
because they’re living longer.
The bottom line is that insurance may help clients avoid a
financial crisis when dealing with a medical crisis. Whether the
crisis happens during a pandemic or not, with people living into
their 80s and beyond — odds are, they’ll suffer some sort of
medical event that life insurance or long term care insurance will
cover, which could prevent a medical episode from escalating to a
financial emergency.
Time for optimism and empathy
The good news is, you’re armed with some of the best tools to
help people reduce anxiety and provide a sense of security during
a time when it’s needed most.
My suggestion is to broaden your outreach efforts to expand
beyond your current client profiles, and start earnest discussions
about how you can help people plan for the unexpected. My bet
is you’ll find an unusually high number of folks open to having
a conversation about the solutions you have to offer. It’s an
unparalleled opportunity to help them, first and foremost, and in
the process, grow your business.
Together, we will get through this. And hopefully, when we
come out on the other side, we’ll be stronger, more resilient,
and better prepared for our futures than ever before.
5 “How Living Longer Will Impact Your Retirement,” U.S. NEWS & WORLD Report, April 2020
6 “Pros And Cons Of Long Term Care Insurance,” The Balance, January 2020
* Loans, withdrawals and death benefit accelerations will reduce the policy value and the
death benefit and may increase policy lapse risk.
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www.nailba.org 30