Navigating Tough Subjects With Life Insurance

Feb. 4, 2022

Life insurance helps your clients meet their financial goals. For every financial stressor your clients will face, there is an insurance solution to assist them. Still, discussing and choosing a life insurance policy can be a delicate subject given the nature of its use. Life insurance, above all, is designed to provide financial support to your clients’ loved ones.

Approaching this conversation can be tough and making clients understand the necessity of an insurance product can be just as challenging. It is important that your clients are made aware of the gratitude that can accompany the purchase of a life insurance policy. Your clients will also gain peace of mind knowing that their loved ones are protected from financial burdens.

Whether it’s deciding on a specific policy, choosing a beneficiary or handling the death benefit, life insurance can be a tough product to navigate. Here we will discuss the best ways to reframe the importance of life insurance and some tips for dealing with tough conversations surrounding life insurance .

Approaching life insurance

There are a lot of choices to make when it comes to life insurance. The type of product, the length of coverage and the dollar amount the client wants to cover are all factors that go into your clients’ choice of a life insurance policy. Life insurance is designed to help clients navigate future hurdles such as losing a loved one, experiencing a disability or developing a critical illness. These are all experiences that no one wants to dwell on. Still, being prepared for them is a fundamental component of purchasing a life insurance policy.

Framing these heartaches with life insurance as a solution for your clients is key in explaining the importance of their policy. Without a solution in place, your clients will be adding financial hardships to an already difficult time.

Choosing beneficiaries

While choosing a beneficiary is relatively straightforward for your clients, the conversation itself might be a tough one. For your clients, their beneficiary will be the chief person responsible for handling their death benefit once they pass. This could mean distributing that benefit as your client has requested, or it could be a lump sum designed to benefit them alone. Regardless, it’s important that you have this conversation with your clients to prepare their policies more accurately.

For instance, there are some pitfalls you might help your client avoid in their choice. Your client should avoid naming minors, as the death benefit could be tangled up in court if they pass before the minors come of age. Similarly, you might help them avoid unintentionally disqualifying a loved one who is already receiving benefits for something like a disability. Lastly, it’s always a good idea for your clients to choose more than just a primary beneficiary, as a secondary or tertiary beneficiary work as great contingency plans for your death benefit.

With your guidance, your clients can make financially secure choices when choosing their beneficiary for their policy.

Discussing final expenses

Final expense might be the closest an insurance product gets to discussing the mortality of your clients. Final expense insurance is designed to pay off any costs associated with the client’s burial. To that end, it’s not always the easiest conversation to have with potential clients.

You can help your clients navigate a final expense policy by offering it to them as early as possible. There might be a misconception that this type of insurance is better suited for an older client who wants to get all their end-of-life needs arranged, but the premium for this insurance is based on age and health. It would be prudent for any client to purchase a final expense policy while they’re still young.

Final expense insurance has a list of benefits. Clients are guaranteed a death benefit to unburden their loved ones of any end-of-life costs, they can choose between monthly or annual payments and their premiums will remain the same throughout the life of the policy. While it’s not an easy conversation for your clients to approach and have, it is one that will keep them financially prepared for the future.

Handling death benefits

Handling a client’s death benefit can be bittersweet for insurance agents. On the one hand, your client has died and there are varying amounts of loss that accompany that fact. On the other hand, you have the privilege of passing on your client’s death benefit to their beneficiary. Condolences are expected, but more importantly, this is an opportunity to help your client’s loved ones navigate the financial hurdles of inheriting a death benefit.

You might help them claim their death benefit and organize their finances. You might even consider offering them an insurance product like an annuity or whole life policy that they can invest the death benefit into and extend the effectiveness of your client’s policy. Regardless, losing a loved one is difficult and it’s important that you’re there to make sure the death benefit is successfully transferred and only offer further financial solutions if the beneficiary is open to your suggestions.

Navigate life insurance with Symmetry on your side

Life insurance always comes with tough conversations. The nature of life insurance lends itself to clients having to make difficult choices and prepare for unpleasant eventualities. However, showing your clients the gratitude and peace of mind that comes with life insurance is a great way to ease them into these conversations. Being prepared with life insurance is a great way to prepare for the unexpected. By having these tough conversations with your clients, you can help families financially prepare for life’s difficult times. You can give them that gratitude.

As a Symmetry agent, you will have access to high-quality life insurance, disability income insurance, critical illness insurance, and annuity products from more than 30 well-known insurance companies. This gives you the flexibility and reach you need to tailor plans to meet clients' individual coverage needs.

To learn more about how to begin a fulfilling career as a life insurance agent, contact us today .


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