If you died last night, what would it look like today?

It's a startling question, and yet it opens up the lines of communication. Having a conversation about life insurance is an important part of any advisor's role. Sadly, crowdfunding has become a new way for people to amass funds quickly by setting up GoFundMe accounts and requesting help from friends and family. However, this is not a financially sound way of protecting loved ones. In times of intense stress and heartache, it's a comfort to know that funds are available. Beneficiaries can use life insurance to pay for bills, funeral expenses, children's education, retirement plans and outstanding debt (mortgage, credit cards, business expenses).

When it comes to Life insurance products, the first step is asking your clients questions about their needs, their lifestyle, their health and their family. People purchase life insurance because they want to lessen the blow of financial burden on their loved ones after they've passed away. It's a purchase made from the heart. And not all life insurance requires that you ask medical questions.

Who needs life insurance? Everyone.

Term life insurance provides coverage for a specific time or term.

Whole life insurance provides coverage for the entire life of the insured.

Annuities

Traditional retirement strategies may not be enough with life expectancies increasing. With annuities, your client decides when to begin receiving income. Annuities can help provide stability for your client's portfolio and make their portfolio more tax-efficient. The benefits of annuities include: providing your client with income for as long as they live, providing the opportunity to create a living legacy and annuities can be used to
protect and preserve assets for a surviving spouse.