What is a human life worth? It's a question Americans need to think about during Life Insurance Awareness Month.
Ask people what a human life is worth and they'll most likely say something like "immeasurable" or "priceless." Now try asking how much life insurance that "priceless" person needs and don't be surprised if your question is met by a blank stare.
Americans realize that their lives are worth a lot, especially in relation to people who depend on them financially. In opinion surveys, they even acknowledge that life insurance is something that the vast majority of people need. But when it comes to owning life insurance, most adult Americans either are underinsured or have no life insurance at all.
Life Insurance Awareness Month (LIAM) is coming up and it will be the perfect time to talk to people in your community about their life insurance needs. September has become the month when the industry comes together to elevate the life insurance dialogue with the American people. Come September, Americans can expect to see life insurance messages everywhere they turn: on TV and radio, in magazines and newspapers, on their favorite websites, etc. You can take advantage of this heightened awareness by mounting your own LIAM campaign at the local level.
Use September as an opportunity to educate people in your community about the concept of Human Life Value. The nonprofit LIFE Foundation, which coordinates the industry-wide LIAM campaign, has a Human Life Value calculator on its website (www.lifehappens.org/humanlifevalue). In about 2 minutes, you can show a client the value today of his or her future contributions to the family household. Or stated more starkly, the figure will let a client know the financial loss the family would incur if he/she were to die today. Once that figure is established, you then can help your client determine how much life insurance would be needed to maintain the family's standard of living in the event of his/her premature death.
With September only a few months away, you need to start thinking about your LIAM plans now. To assist you, the LIFE Foundation created a five-minute planning video that offers four hands-on ideas for making the most of the LIAM marketing opportunity. When you view it at www.lifehappens.org/liamideas, here are some of the ideas you'll find:
- Mark LIAM on the Calendar Today: Life insurance is one of the hardest products to sell, but LIAM can make your job a little easier. Don't miss this one-month window of opportunity to talk to people about life insurance at a time when it will already be on their minds.
- Use LIAM to Get Appointments Scheduled: Pointing out that September is LIAM gives clients and prospects one more reason to say "yes" to a meeting.
- Tell Your Clients that "Life Happens": During LIAM, give Life Happens gel bracelets to clients and prospects. They're great conversations starters. People will inevitably ask, "What does Life Happens mean?" That's your opening to talk to them about LIAM and the importance of planning ahead for life's uncertainties.
- Tap Into all Available Assets: The LIFE Foundation offers lots of great marketing resources that you may want to use during LIAM (www.lifehappens.org/catalog), and many companies have created materials and programs to help you be more successful during LIAM. Make sure to explore all of your options.
For more information about Life Insurance Awareness Month, contact Madison Brokerage today!
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