In a recent conversation with an Account Manager at well-know website domain provider (that rhymes with YoCaddy), I learned how much employees are under-educated and more importantly under-insured when it comes to Life Insurance.
After fixing my problem, the guy on the other end of the phone asked what I did and he proceeded to tell me how much Life Insurance he had on himself. He told me, "I have 2 times my salary and $250,000 of Term, giving me $350,000 of coverage"
Problem: If he died tomorrow and his family needed to replace his income, they would be broke in 10 years! This does not count paying off the house, college education or weddings for his 2 little princesses.
Solution: He needs more Life Insurance! Now, he may be able to get 5 times his salary at work. But, $500,000 will still not be enough to cover income replacement or his other financial obligations. Due to the low interest rates, the rule of thumb will be 15 to 20 times salary and Term Life is an affordable way to fill the void.
You can get quotes for your clients by clicking here or use this worksheet to come up with the amount that fits their needs.
After fixing my problem, the guy on the other end of the phone asked what I did and he proceeded to tell me how much Life Insurance he had on himself. He told me, "I have 2 times my salary and $250,000 of Term, giving me $350,000 of coverage"
Problem: If he died tomorrow and his family needed to replace his income, they would be broke in 10 years! This does not count paying off the house, college education or weddings for his 2 little princesses.
Solution: He needs more Life Insurance! Now, he may be able to get 5 times his salary at work. But, $500,000 will still not be enough to cover income replacement or his other financial obligations. Due to the low interest rates, the rule of thumb will be 15 to 20 times salary and Term Life is an affordable way to fill the void.
You can get quotes for your clients by clicking here or use this worksheet to come up with the amount that fits their needs.
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