AIP Marketing Alliance is smack-dab in the middle of September with a lot going on between children heading back to school, Life Insurance Awareness Month (LIAM) in full swing, and the NFL already kicked off. With everything going on in today’s world, sometimes we can lose track of what’s important in our lives.

The same thing could happen to your clients and prospects. Call it the “set it and forget it” mentality that takes over during stressful times. Maybe it’s the 5+ streaming platform subscriptions that they are paying for on Netflix, Disney, Hulu, Peacock… we could go on and on.

Maybe it’s that 2024 January resolution membership at Planet Fitness or LifeTime Fitness – and now that summer is over, they can’t fit fitness into their schedule despite the ongoing monthly fee.

One very important item you do not want your valued clients to forget about involves their current life insurance policy. Sometimes, families may purchase the life insurance policy with that same “set it and forget it” mindset. That policy (or policies) could fit that mentality… then again, the policy also could need an adjustment to fit their best interests now vs. their best interests then.

Here are a few examples of those best interests: marriage; having children; education costs (private schools, colleges and universities; mortgage, car loans, credit cards, or other debt; divorce; owning a business (and protecting its operations); and much more.

AIPMA likes to call those “living benefits” of newer life insurance products. Life insurance also can help cover final expenses (or death benefits) to provide families with a financial safety net by helping to replace their income or serving as an inheritance for a loved one.

Either way, life insurance can provide protection for their loved ones in the case of an unforeseen life event or one of natural causes. Does their current life insurance policy have enough protection if that happens?

According to life insurance owners, 22% say they do not have enough coverage, per the LIMRA/Life Happens 2024 Barometer Study Report 2. The report also states women (46 percent) are less likely than men (57 percent) to have life insurance, and almost half of adults report that they would feel financial hardship within six months if a primary wage earner were to pass away.

Those numbers are very frightening statistics. That’s why AIP Marketing Alliance wants you to leverage September’s LIAM focus to segue into scheduling a Life Insurance Policy Review (LIPR) with your current clients and prospects.

The LIPR is utilized by your clients to assess their current coverage and reveal potential gaps caused by life events or lifestyle changes. You can download our LIPR Overview document, which has some tips and guidance on performing the life insurance policy review by clicking here.

AIPMA also has created a three-part marketing kit for wholesalers and agents on LIPRs. The information covers why you should do a LIPR, how to do the LIPR, and how to market the LIPR to your clients. We also can share a step-by-step guide for agents.

Let’s make the most of Life Insurance Awareness Month in September by taking the time to walk your clients through a Life Insurance Policy Review. Some policies don’t need changes; some policies may improve their coverage or protection. Take a few minutes to call or email your clients and prospects to verify they can “set it and forget it” for another year.

Would you like our LIPR materials? We can brand them with your logo and contact information to send to your downline agents. As touched on in our last LinkedIn newsletter, AIP Marketing Alliance also has plenty of new social media graphics and a video to promote Life Insurance Awareness Month. Simply email marketing@aipma.com or contact one of our Business Development team members at (800) 783-5206 Press #2.

AIP Marketing Alliance also would like to take time to remember those whose lives were lost during the tragic 9/11 attacks – causing the deaths of 2,996 people. Our thoughts and prayers are with all who were affected by this terrible event.

For more than 40 years, AIP Marketing Alliance (AIPMA), an Integrity Company, serves as a premier life insurance and annuity distribution partner to provide full-service support to independent wholesalers, brokerages and agents from our Troy, Michigan office. NOT AFFILIATED WITH OR ENDORSED BY THE GOVERNMENT OR THE MEDICARE PROGRAM.

AIP Marketing Alliance is committed to MORE in ’24 as we are launching a bunch of new resources to support our independent insurance wholesalers and agents. Visit our blog on aipma.com to stay informed on these upcoming launches and learn why wholesalers nationwide choose AIPMA as their distributor for selling life insurance, annuities, long-term care insurance, final expense, and much more. Ask about our lead services, myAIP CRM platform with customizable recruiter portal, and online tools/resources designed to grow your business.

AIP Marketing Alliance, an Integrity Company, has developed this electronic communication for informational and educational use only. Be advised, AIP Marketing Alliance, Inc. does not provide legal advice, tax advice, or guidance on issues involving securities laws, insurance laws nor securities or insurance regulations. This material should not be relied on as providing any such advice or guidance to either agents or retail consumers. Within this communication, AIPMA shares links for usage as information only. This content should not be interpreted as solicitation to purchase life insurance, annuities, or other products or as advice designed to meet your clients’ specific needs. Content involving fiduciary, tax, or legal advice should be directed to your legal, tax, and financial professionals for specific advice or product recommendations. AIPMA will not accept any legal liability resulting from any use of 3rd party material(s).