Fact finding session

[Mr. Bill]

In all seriousness, you ought NOT to include any group life they have through work. Most people overinsure themselves through their group plan and underinsure their personal policies. With job changes every 5-7 years, plus the continued difficulty of purchasing as we all age, it's best to get top coverage when they're young, and split the policies between term and permanent.

 

[ims01]

It's always a battle between needs and their budget. I start with asking what concern it was that casued them to contact me. Then probe with a series of open ended questions that get them talking. You will quickly develop a picture of their situation. Calculators are nice, but it may not address their true concern.

 

[bobson]

It's always a battle between needs and their budget. I start with asking what concern it was that casued them to contact me. Then probe with a series of open ended questions that get them talking. You will quickly develop a picture of their situation. Calculators are nice, but it may not address their true concern.

Very nice stuff. I like what I read from all of you.

Do you have samples of the opened ended questions you use?

I use to use the old LIFE acronym (Loans, Income, Final expenses, Education) but it became to difficult to get it done. I like what Delta and bluemarlin do now.

 

[loginname]

I usually go through an income replacement calculation using my financial calculator. I show them what it would take to replace the income until retirement age. I also use Financial Profiles for multifaceted plans involving retirement and education funding.

 

[schealthagent]

What if it is for estate preservation? since we dont know the future of estate taxes is there a percentage that is standard in the industry? How (if) would you split that up between term and perm?