New Year, New Life Insurance Products

Jan. 27, 2023

As one year ends, resolutions and goals are made with the hope that the next year will see them through. For that reason, January can be a great time to reevaluate how to meet those goals and what resources can be leveraged to accomplish them.

A great way to decide what’s needed to meet your resolutions might look like a meal plan to keep up with your dietary goals or an outline for that short story you’ll finally put pen to paper for. Goals of all kinds are more easily achieved when you have resources.

As a life insurance agent , the same is true for your clients. Regardless of their financial goals (or what milestone of life they’re in), there is a life insurance product that can help them succeed.

January checkups

Policy reviews and annual check-ins with your clients build lasting relationships while finding business opportunities for yourself. January is a perfect time to schedule these conversations as they will align with a time of the year when your clients are reevaluating their financial goals and needs.

They might be considering a large purchase, making an addition to the family or zeroing in on financial goalposts like retirement or paying off debt. You can help your clients find an insurance solution that makes their goals easier to achieve.

New home — mortgage protection

If you have clients who are considering buying a home this year, they might have some new financial concerns and needs. While they have probably researched the need for homeowner’s insurance, they might have overlooked the need to protect the mortgage itself.

That’s where mortgage protection can help. Mortgage protection insurance can provide financial support to your clients in the event of an illness, disability or death. Mortgage protection is a term life insurance policy that covers your clients for the amount of their mortgage with a term that matches how long it will take them to pay it off.

With mortgage protection, your clients will be covered if anything prevents them from making their monthly payments. It’s a great way to add some extra stability to such a big purchase and will ensure that their family will keep the home if the unexpected were to happen.

New addition to the family — Quility Level Term ®

If your clients are adding onto their family, term life insurance is a more affordable life insurance policy that can be tailored to cover a specific length of time.

When it comes to term life insurance, it’s hard to beat our parent company’s proprietary product, Quility Level Term (QLT). This customizable term life coverage comes with a maximum of $1 million in protection with ranges from 10-30 years. Clients who choose QLT can also opt for a charity rider which (at no extra cost) will let them choose their favorite non-profit as a secondary beneficiary.

If your clients are considering adding a new child to the family this year, then they could set up term life coverage to last until their child becomes an adult and moves out of the house. What’s more, securing a term life policy in their 20s and 30s will ensure their loved ones won’t be left with unnecessary debt if they were to die unexpectedly.

Tackling debt – Debt Free Life ®

Speaking of debt, it’s likely that your clients are dealing with loans . Whether it’s credit cards, a new car or student loans, dealing with debt can feel never-ending. If your clients are grappling with becoming financially independent, Debt Free Life is the perfect insurance product to help them achieve a debt-free life.

Debt Free Life (DFL) harnesses the power of a life insurance product to systematically tackle loan payments. DFL uses the tax-free premiums of a life insurance policy to get rid of debt in less time.

New job — short or long-term disability insurance

Starting a new career is a great time to evaluate disability insurance. Disability insurance covers a wide range of expenses if your clients should need them, but ultimately, they insure your client’s paycheck.

Your client will need to choose a term that fits their needs and a type of coverage that fits their lifestyle. For instance, a client who enjoys rock climbing as a hobby should consider a disability policy with a higher coverage amount.

Regardless of your client, this type of insurance is relatively cheap, and any clients who depend on a paycheck to pay the bills on time should have a disability policy.

Retirement — Permanent life (cash value)

Clients should always be saving for retirement . Unfortunately, it is a goal that some can’t contribute to as much as they’d like. If you have clients who are interested in saving for the golden years, it’s difficult to find a product more valuable than a permanent life insurance policy.

Specifically, an indexed universal life (IUL) product would be ideal for your clients who are wanting to put more toward retirement this year. This type of permanent life coverage uses two components to meet your client’s needs. An IUL would cover your client until they pass, but it also comes with a tax-free cash value component to help them save more.

With the cash value of their policy, they can decide to put more money into their policy which will grow within a financial market index. Once the cash value has matured, your clients can decide to draw from it, surrender the policy completely (and receive the cash value it has generated) or even use the cash value to make payments on the coverage itself.

Since the cash value of the policy exists in addition to the death benefit, your clients can use that extra cash as they see fit — making it a great fit for those anyone hoping to secure their retirement.

Help your clients meet their resolutions with Symmetry Financial Group

Resolutions are a great way to start the year, but without the proper tools and guidance, they can be difficult to reach. As a life insurance agent, you can help your clients meet whatever financial goals they’ve set for the new year.

Whether they want to protect their mortgage payments or eliminate the mortgage itself, there are insurance products that can help them achieve their financial resolutions.

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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