Wife Insurance & Guardian Insurance
by Mike Landers
Whenever I'm in front of a couple, and start the fact finding process I'll simply ask, "how much wife insurance do you have?" They'll look at me and clarify did I mean to say Life Insurance and I'll tell them, No I said Wife Insurance. 8 of 10 families underinsure the wife. There still seems to be reasoning that the male has to have the larger amount of coverage.
When I show what the wife does at home not including what she makes at work, the husband realizes he has grossly under-insured his spouse. It always gets an additional Term sale that I'll convert to permanent within 2 years.
The other easy sale is Guardian Insurance. Promoting Living Trusts and Wills over the last 15 years has allowed my firm additional sales of 10 yr. and 15 yr. Level Term Policies with high face amounts, earmarked for Guardians of the children, should mom and dad not come home sometime and there has to be a financial injection of monies to help the Guardians cope with taking care of the children.
This is especially true when a family has 2 or more minors. I simply ask, "you'd never want your children split up, would you, well here is a way to guarantee that they stay together & never become a financial burden to parents, brother, sister, etc..) such a small amount of monies to invest to make sure they stay in the same lifestyle they're accustomed to.
It is a sale that has rarely any objections, and if your good, you'll eliminate them before they come up.