Using Life Insurance To Reevaluate Milestones

Jan. 28, 2022

  • Getting married — Whole life

  • New home — Mortgage protection

  • New child — Term life

  • Retirement — Annuities

  • Funeral costs — Final expense

Life insurance can be applied to any aspect of life. Milestones, for instance, are great opportunities to discuss reevaluating financial needs, and life insurance can be a solution to any of the financial hurdles that come with every stage of life.

Whether it’s buying a new home, having a baby or saving for retirement, there is a life insurance product that can help your clients meet their financial goals. Milestones in life are a great way to assess your client’s financial needs and goals. As a life insurance agent , it’s important that you consider where your clients are in life when helping them find an insurance solution.

Here we will discuss some of the biggest milestones that can be addressed with life insurance.

Say “I do” to whole life

Getting married is sometimes the first milestone in building a family. For your newly married clients, you may recommend  a whole life insurance policy. Having a whole life insurance policy means your clients would not have to worry about burdening their partner if something were to happen that prevented them from making an income. It’s a great solution for newlywed clients looking to achieve early financial goals.

Having a whole life policy can address two primary concerns your clients may have. To start, purchasing a whole life policy on each other means your clients will be protected until one of them dies. Any income earned will be covered, and both will be protected from financial burdens caused by death — untimely or otherwise. What’s more, using the cash value of their policy, your clients can start building retirement funds within their policy.

For newly married clients, a whole life policy is a permanent and stable source of protection that will last their entire lives and help them start building an income for when their working years are behind them.

Mortgage protection for new homeowners

Purchasing a home is another big milestone that might lead your clients to reconsider their coverage needs. Not only is this purchase a big step in building a family, but it’s also probably your client’s largest asset and biggest debt. A life insurance solution that protects your client’s mortgage payments is critical to their financial peace of mind.

Mortgage protection is the perfect solution for a client looking to make sure their mortgage does not burden their family if they were to die before it is paid off. More so, mortgage protection insurance will protect your clients in the event of disability or critical illness. Securing this type of policy for your clients means they will have peace of mind knowing that their family will not be left to foot the bills if the worst happens.

Term life for new additions

Having a child is another major life milestone that comes with financial adjustments. As parents, your clients will want to know that their kid’s future is protected if they were to die unexpectedly. To that end, this milestone is a great chance to discuss the benefits of a term life policy with your clients.

With term life insurance, your clients set the length of their coverage for 10, 20 or 30 years. Your client can choose a coverage amount and term length that allows them to protect their family’s income and their child’s future through adolescence or through their college years if they choose. Term life insurance is perfect for clients who are looking for coverage to financially protect their children into adulthood. Beyond that, with the addition of a return of premium rider, your clients could see a refund on all their premiums after the end of the policy’s term.

Save for retirement with annuities

While whole life insurance is a fantastic way to get started saving for retirement, annuities offer even more opportunities for your clients. With an annuity, your clients can begin creating wealth incrementally over the years. Since the payments on an annuity are tax-free, this is a useful product to secure a stable source of income for your clients during retirement.

Your clients will have the choice of a fixed or variable annuity: One will provide them with regular payouts throughout retirement, while the other will provide clients with payouts that are impacted by how well their investments are doing. Both options are ideal insurance products designed to help them tackle the milestone of retirement.

Prepare with final expense

Being prepared for funeral costs is one milestone that is not easy to broach with clients. However, with the rising cost of funerals , having that conversation with clients can help them avoid an unexpected end-of-life financial burden. With a final expense policy , you can help your clients prepare for life’s final milestone.

Final expense insurance is a whole life policy tailored to cover any end-of-life expenses through one lump sum death benefit. This is an ideal solution for clients who want to alleviate unnecessary funeral expenses for their surviving loved ones.

Help your clients reevaluate with Symmetry

Life’s milestones are great opportunities to discuss insurance solutions with your clients. As your clients navigate their financial goals, you can offer insurance solutions that can help them make the most of their steps through life. Whether they need life insurance to protect their income or the home where they’ve built a family, there is a life insurance solution to meet their needs.

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 .


Would You Like to Request a Quote?
Please fill out the short form so we can provide you with the policy options to best match your coverage and financial needs.
Request a Quote