When people think about their life, they’re not thinking about life insurance. They’re thinking about putting food on the table and what they must do this week or this year. Part of being a good financial advisor, however, is talking people through their entire lifetime and explaining to them that their life is all too brief.
It also is powerful for financial advisors to tell clients that they themselves have life insurance. I emphasize to clients that life insurance provides for their family if they’re not there. It’s truly a love letter. If you really love somebody, you’re going to want to protect them throughout not only your life but their life as well. I have three daughters and seven granddaughters. I want to make sure they’re taken care of.
I’m 68 years old. I have cancer. I am uninsurable. No matter how much I want insurance now, I can’t buy it. You’d better believe the insurance policies I bought when I was younger make all the difference in the world now. Although we prefer not to think about it, we all become uninsurable at some point.
The last time I checked, nobody gets out of here alive. It’s not a question of if you’re going to die; it’s a question of when you’re going to die — and whether or not you want to take care of your family. It really comes down to that. It’s that simple.
Kevin Murphey, of Hixson, Tennessee, USA, is a 32-year MDRT member.
For more ideas about how to discuss life insurance: