Insure Your Love: The value of life insurance

While clients may offer plenty of reasons they don’t want to buy life insurance, advisors strive to help them recognize its value. Israel Peleg, a 16-year MDRT member from Tel Mond, Israel, recalls a doctor who refused to buy a life insurance policy because he said his wife, an engineer, made more money than he did and there was no need for concern in the event of his death.

“The husband died of cancer at 48, and the family went through a big crisis,” Peleg said. “The wife left her job and looked for a different one that would allow her to spend more time with her kids. I insisted that the widow buy a life insurance policy as well as a critical illness insurance policy. Some years later, she also got cancer. Her children got the money from the critical illness insurance company and managed to stay together and keep the family whole. There’s no question that I failed the first time, but I made up for it the second time.

“We shouldn’t give up; we need to do all that we can to make the client aware of their family’s needs.”

“After this case, I now insist more that clients buy the products I believe their families need, and I try not to give up when clients try to save money or when they don’t believe in the product I’m selling. In many cases, the clients don’t see the real situation or they try to present the situation as better than it is, and we tend to allow them to do that. We shouldn’t give up; we need to do all that we can to make the client aware of their family’s needs.”

Interview conducted by Ram Mischari.

See more real life stories about the power of life insurance. February is Insure Your Love Month.

Written by Matt Pais, MDRT Content Specialist