As an experienced life insurance broker I am often asked by my agents, what life changing events make people want to sit down and purchase some life insurance? I have found it is not the ones most people think of that motivates a person to call us about buying some life insurance. Here are the most common answers I hear.
Most people would agree the most common life changing event that makes a person buy life insurance is a new marriage. There is something about saying wedding vows and I love you forever or maybe the death do us part, that couples realize, I need to be sure my new spouse is taken care of in life or death. Life insurance is one of the most thoughtful gifts you can give a person you love. But it is not the number one reason.
Next I would say a common reason that makes couples purchase life insurance is the birth of a child. Whether it is the first or the fifth, holding that little helpless baby and promising to always love and take care of them unconditionally makes one think. How would my child fair without me? How would they get the education they will need? Who will take care of them and how will they pay for it? Life insurance fills that void as we are all vulnerable when it comes to the grim reaper. But it is still not the number one reason.
Another big life changing event that initiates the need for life insurance is the purchase of a new home. Signing that large mortgage debt makes a person realize the commitment of paying off this large debt and what a burden it would be on their loved ones if something were to happen to them. Whether it is the old mortgage life insurance better known as decreasing term or the more practical term life insurance plan, the need for money to pay off this debt and not saddle your loved ones with large mortgage payments will prompt a phone call to us. However, it is still not the number one reason to purchase life insurance. Give up?
The number one reason we receive a call to come out and help with life insurance is the death of a friend or family member. As sad as this may sound, when losing someone close and realizing the financial mess left behind by someone who carelessly died without life insurance, provokes emotions not usually felt in everyday life. We hear the nightmares of financial disruption by poor planing, most people rethink their own financial plan and decide not to put their loved ones at risk. Especially, when they really see how affordable most life insurance really is.
Don’t wait for a life changing event to get your loved ones taken care of. Contact your trusted life insurance broker today and get started.
“No matter how many plans you make or how much in control you are, life is always winging it.”― Carroll Bryant
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Tim Wilhoit is owner/principal of Your Friend 4 Life Insurance Agency in Nashville, TN. He is a family man, father of 3, entrepreneur, insurance agent, life insurance broker, salesman, sales trainer, recruiter, public speaker, blogger and team leader with over 27 years of experience in sales and marketing in the insurance and beverage industries.
Great Post Tim! Death of a loved one it truly a sad time, but it does push the client or prospect into taking financial action, to protect or provide something to their loved ones!
Jeremy, thank you for your kind words. It is sad that it takes a personal tragedy for some people to act, but at least they act before it is too late for their family. Thank you for sharing.
Very true. Unfortunately, this is why I purchased life insurance.
I support this. Oh, and I’m also a Justice of the Peace too! 🙂
Great blog, Tim…….love the wedding vows idea
Nick, Prez and Bill, Thank you for the kind words. I really appreciate your approvals.
thanks after I read this article I realized that you don’t need a life changing event to buy a life insurance . rather you need luck