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6 Reasons to Convert
That Term Life Insurance Policy
Although most advisors consider whole life insurance to be a better long-term planning option than term insurance, most clients prefer to purchase term policies. Much of the reason is because it is often sold at a lower price, or to satisfy an immediate need.
However, only 2 percent of term life insurance policies actually pay out. This presents an opportunity for you as the advisor to convert the term coverage into a permanent policy. Here are six reasons why they should: - They'll likely outlive their term insurance
- They are rethinking their estate
- They may simply prefer an upgrade
- They anticipate steep family costs
- They are restructuring their retirement income
- Their financial priorities are changing
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