Most clients start thinking about life insurance once they’ve married and had children, with the goal of replacing income if the buyer’s earning power is lost due to death. The industry standard on how much life insurance buyers need is five to ten times their annual salary, but that really depends on several factors: their age, the ages of their spouse and dependents, their income and debts.
With IFC’s free, online life insurance needs analysis tool, you can easily show clients exactly how much insurance they need based on their circumstances, so their family has the income replacement they want. Your client’s mortgage, car loans and any other debts can be included in their insurance planning and you can even factor in future education for their children. Life insurance is an important asset that can help replace your client’s income, reduce debt and maintain their family’s current standard of living upon their death.
Using our free online tools, it’s easy to show your clients the high cost of waiting to buy life insurance coverage… and the benefits they will realize by buying coverage now. If you are too busy or focused on other parts of your business to provide this important coverage to your clients, our IFC concierge team can do it for you.
To learn more about the free IFC tools and services that you can use to serve your client’s life insurance needs, give us a call today.