Is a protection gap hiding in your book? Take action now.
September is Life Insurance Awareness Month and a timely reason to reconnect with clients. A simple review can uncover changing needs, identify coverage gaps and help ensure current protection still fits a client’s situation.
According to LIMRA1, nearly 1 in 3 Canadian adults say they need life insurance or need more coverage. That points to a significant protection gap and an opportunity to help clients determine whether their current coverage still meets their needs.
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The reality is that clients' lives change over time, but their insurance coverage doesn't always keep pace. A new home, growing family, increased income, business ownership or estate planning needs can each affect the amount of insurance protection a client requires. Some clients may need more coverage, while others may have little or no protection in place.
Start the conversation
Lead with the client’s current situation, then guide the conversation to the solution. Try prompts like:
• “Let’s look at what your family would need if your income stopped unexpectedly.”
• “Your life has changed since we last reviewed your plan. Let’s make sure your coverage still fits.”
• “Before we talk solutions, let’s first confirm what matters most to protect.”
These conversations don't need to be complex. Often, a simple check-in can reveal changes in circumstances that warrant a closer look at a client's protection strategy.
Need support identifying opportunities or matching solutions to client needs? Contact your Equitable wholesaler.
1Source: LIMRA and Life Happens, 2023 Canadian Insurance Barometer Study.
According to LIMRA1, nearly 1 in 3 Canadian adults say they need life insurance or need more coverage. That points to a significant protection gap and an opportunity to help clients determine whether their current coverage still meets their needs.
The reality is that clients' lives change over time, but their insurance coverage doesn't always keep pace. A new home, growing family, increased income, business ownership or estate planning needs can each affect the amount of insurance protection a client requires. Some clients may need more coverage, while others may have little or no protection in place.
Start the conversation
Lead with the client’s current situation, then guide the conversation to the solution. Try prompts like:
• “Let’s look at what your family would need if your income stopped unexpectedly.”
• “Your life has changed since we last reviewed your plan. Let’s make sure your coverage still fits.”
• “Before we talk solutions, let’s first confirm what matters most to protect.”
These conversations don't need to be complex. Often, a simple check-in can reveal changes in circumstances that warrant a closer look at a client's protection strategy.
Need support identifying opportunities or matching solutions to client needs? Contact your Equitable wholesaler.
1Source: LIMRA and Life Happens, 2023 Canadian Insurance Barometer Study.