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Life Insurance Conversations Can Bring Up Some Awkward Questions

Originally published by: Legal & General America

As part of #insureyourlove month, AIP Marketing Alliance wanted to pass along this informative content from Legal & General America to help during life insurance conversations with your clients and prospects. AIPMA hopes these responses to standard questions asked during your appointment will show the benefits of life insurance.

But I’m young, I don’t need life insurance until I’m older.

When you get life insurance you have to remember you’re not just protecting what you have now, but everything you and your family could have in the future. That’s why for many people term life is the best type of life insurance for a 30-year-old because it offers the best of both worlds – affordable coverage and the protection you need for the years you need it. Your rates are best when you’re younger so it’s savvy to lock them in early.

I live a healthy lifestyle, why would I get life insurance?

This is exactly why you should think about getting a policy now, while you’re young and healthy. Unexpected deaths are often when families need the most financial support to cover outstanding medical bills from accidents or quick-acting illnesses.

Policies are too expensive.

Term life insurance policies are actually some of the most approachable premiums in the industry and can provide enough coverage for final expenses and more. In the 2022 Life Insurance Barometer Study, LIMRA found that 43% of millennials estimate the cost of term life insurance to be more than six times higher than the actual premiums. Let’s talk, it’s most likely more affordable than you think.

I’m not married, why would I need life insurance?

Life insurance doesn’t just benefit spouses. A policy can be used to help those in charge of your estate cover outstanding debts like credit cards, mortgages, car payments or even student loans.

I’ll get life insurance when I have children.

The earlier you get life insurance in life, the less expensive your premium will be. If you lock in a lower rate now for a longer term, you’ll still have that rate if you do end up having or adopting children in the future.

I already have a policy through work.

Employer-sponsored life insurance benefits typically average $20,000 or one-year’s salary, which may not be adequate to properly protect your spouse and/or loved ones. Purchasing your own life insurance policy can help provide you with the level of financial protection you need based on your family’s lifestyle. So you can work with advisors like me to make sure the policy amount fits your lifestyle, compared to the flat rates typically found with employer-sponsored benefits.

My spouse is the primary breadwinner and already has a policy.

According to LIMRA, 44% of families would face financial hardships within six months of losing one income. Life insurance can supplement the support a secondary salary offers including funding future home repairs, college funds and more.

I’m a stay-at-home parent, we don’t rely on my income to support my family.

Your job is hard, and expensive, to replace. Childcare costs are averaging $884 a month for a family care center, and $2,775 for a nanny.1 The time to shop and clean the home your family lives in and all the little things you do can add up when outsourced. It also gives your spouse time to grieve without feeling the immediate need to get back to a job. (1) Based on the 2022 average monthly cost of childcare according to How Much Does Childcare Cost in 2022? CN12212022-1

The whole process is painful, invasive and too complicated.

With advancements to technology and processes, Legal & General America makes it easier than ever to apply for life insurance. Many can even log onto the app for a quick application and be approved within 15 minutes, no finger pricks necessary.

I’m too sick for an insurer to cover me.

Let’s talk about your options. Carriers have already made changes to what is and isn’t out of the picture when it comes to coverage. We may be able to find a viable financial solution and protection for you.

I have investment accounts to take care of my beneficiaries.

Those are always great assets to pass down to loved ones. However, we know the markets can be volatile and unpredictable. A benefit of term life insurance is that the payout will not be impacted by the state of the economy, so you know exactly what you’re loved ones will receive the minute you purchase a policy.

My estate is well financed, I don’t have children nor a spouse… why bother?

It may not be the right fit for you now, but if things change it can be a nice safety net to have in your back pocket. Many also don’t know that you can use your policy to support favorite charitable endeavors.

How do I even begin to have this conversation with my family?

We get it, it can be awkward to talk about. But that makes it all the more important. We recommend acknowledging that it’s uncomfortable, focusing on the benefits and the reasoning behind the discussion. You can even use the recent pandemic got you thinking. Pro Tip: In a recent LGA survey, 43% of people said the dinner table is the best place to have an awkward conversation. Food for thought.

If you need any assistance with your next client appointment, contact AIP Marketing Alliance’s Business Development team at (800) 783-5206 Press #2 or We can help compare life insurance products to provide options geared toward your client’s current situation and needs.

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For more than 40 years, AIP Marketing Alliance (AIPMA) 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. Copyright 2023