10 Most Common Life Insurance Mistakes (And How To Avoid Them)

10 Most Common Life Insurance Mistakes (And How To Avoid Them)

Placing the right policy, for the optimal amount, with the correct details, can be more challenging than it seems.

Learning the common pitfalls and how to avoid them will not only help your clients get the coverage they need, but will also help you become a better producer.

10 of the most common mistakes are:
  • Naming your client’s estate as the beneficiary.
  • Failing to name at least two “backup” beneficiaries.
  • Failing to check up on your client’s policies at least every three years.
  • Matching the problem with the wrong solution or type of life insurance.
  • Your client’s amount of personal coverage is inadequate for their family’s financial security goals.
  • The policy is payable outright to your client’s minor children or grandchildren.
  • All the insurance on your client’s life is owned by that same client.
  • You haven’t checked to see if your client’s business or professional practice can provide insurance on a more efficient basis.
  • Forgetting that term insurance (including group term coverage) runs out and/or becomes prohibitively expensive to carry.
  • Purchasing life insurance as though it were a commodity.

Your Life Sales Representative is the ultimate resource to placing the proper policies quickly and with ease.  Contact us today.