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Virginia Said:

Why does a life insurance protection gap get wider each year?

We Answered:

Now that three days have gone by without a response to your question, can you translate for us? I'm an expert in life insurance, and I have no idea what you are asking.

Alan Said:

How do I help families not see life insurance as a bill but rather protection for their family?

We Answered:

You need to 'sell' them on the benefits, not the product. That's as simple as it is. You need to focus on what the product does for the family, not what the product is. Focus on the concept and "problem" more than the solution/product. I have a lot of my clients that don't realize they bought "life insurance"...but they own a pre-paid funeral plan or a pre-paid estate tax plan for example. Don't get me wrong, when they sign the paperwork they fully understand it's a life insurance policy, but in their mind they aren't buying life insurance, they are pre-paying taxes and such.

Life insurance is ALWAYS a tough sell on people though. People will never experience the benefits of insurance becuase the person insured will be dead when the benefits/value is realized. Some people will not see value in insurance and you can't please everyone, no matter how much you beleive in the cause. Ask them if they own a toilet plunger or a spare tire. Most will say yes. Then ask them if they bought those before they needed it or if they bought it with the intentions of using it immediately. Insurance is like a toilet plunger. You never see the value in it and it just sits there and does nothing until you use it and need it. And when you actually need it, it's too late to buy it, but you'd likely pay ANY thing to have it.

Joseph Said:

Suppose the Wrights found that both Tom and Sue had a life insurance protection gap of $50,000. Present the s

We Answered:

So, what's the question?

For more info about life insurance, I compiled my research on to here: http://obe231.blogspot.com

If you want to know how much coverage they should get, general rule of thumb is 10 times their gross income, which is $400,000.on each.

Stephanie Said:

What are the steps to closing a life insurance protection gap?

We Answered:

Maybe you had enough originally and now you need more because circumstances have changed. You have two options:
1. Keep you existing coverage and buy more on top of it.
2. Replace the whole thing with a larger amount.

You should consider both to see which one is most advantageous to you.