Here’s an updated version of a classic relationship-building article that we first ran Nov. 26, 2013. It’s still a good guide to ways to use cranberry sauce and stuffing season as a chance to get consumers to thinking more about protecting themselves, and the ones they love.
With the holiday season fast approaching, we give thanks to the people and things that lessen our burdens and make our lives brighter.
As I write this blog, I’m reminded of how fortunate we are to live in a time where we can devote our attention to the things that matter most with the right planning.
(Related: 5 Simple Gifts)
In no small part, that’s thanks to trusted professionals like you who offer guidance to clients to ensure that they — and most importantly their loved ones — are protected from unforeseen events that could affect their ability to earn an income, the ability to care for themselves, or even their lives.
In the spirit of giving thanks, make it a point this month to go over the insurance policies of each and every client. You may be surprised at just how many may need to make adjustments. Here are a few tips to get started.
1. Educate and empower.
Though we insure ourselves, the policies are really there for the people who matter most to us. Regrettably, many people don’t fully appreciate how important these policies are until it’s too late, leaving their loved ones to try to pick up the pieces.
Life insurance is the single most basic policy that protects your clients, yet LIMRA has found that about 30% of American households are without it; some of the most vulnerable among them, including 70% of working women with children under the age of 18, don’t have a policy in place.
When it comes to long-term care insurance policies, people often wait until their health has deteriorated and it’s too late.
If they knew that 43% of people facing long-term care costs are under the age of 65, and at least 70% of people over the age of 65 will need long-term care services and support at some point, many would jump on board immediately.
Do not assume your clients have a complete appreciation for the potential risks that face their loved ones or their long-term goals.
Educate them on the basics of life, long-term care and disability insurance. Call on your insurance partners and host a coffee (or apple cider!) hour for clients to gain better insight. Don’t let them miss this opportunity to act now before it’s too late. Here are a few more tips: