What If The Client Has Nothing? What Would You Recommend?

[Logan Five]

I am still studying for the Life insurance and the Series 6 license exams.

What would you recommend for someone who doesn't own any real estate, or have a 401k or doesn't have a retirement savings account?

I am not trying to be facetious,I know a lot of people in that boat. Would you suggest an insurance product, or, an investment like a mutual fund to fund their retirement?

I realize there are many other factors that one would have to know to make a recommendation to someone in this position, what would you recommend and why?

Thanks in advance!

Logan,

 

[STIBROKER]

10 times their income written in 30 year term.......

 

[pfg1]

Well it would depend. If they are single and have no kids, technically they fit the box that some would say they don't need life insurance (yet). If married, and/or kids...absolutely need some coverage. How much would be based on their individual situation.

 

[DHK]

I am not trying to be facetious... but now is not the time to worry about what to recommend and when. That's what your firm's training is supposed to do.

Your job is to get your licenses and go through training... and THEN we'll help you do a better job than your training has taught you.

 

[adjusterjack]

What would you recommend for someone who doesn't own any real estate, or have a 401k or doesn't have a retirement savings account?

Cheap ART so if he dies soon his relatives have enough to pay his debts and bury him.

 

[STIBROKER]

Cheap ART so if he dies soon his relatives have enough to pay his debts and bury him.

yea....but what about his income......

 

[adjusterjack]

yea....but what about his income......

He works hard, advances in his chosen field and, when his income starts sufficiently exceeding his cost of living, he can address a retirement plan of his choosing which might, or might not, include cash value life insurance.

 

[WinoBlues]

Cheap ART so if he dies soon his relatives have enough to pay his debts and bury him.

How about his disabled wife, their 4 children and his owner operator construction company?

Which ART would you use?

 

[rousemark]

How about his disabled wife, their 4 children and his owner operator construction company?

Which ART would you use?

Modern Cartoon ART.. Stay away from landscapes....

 

[STIBROKER]

He works hard, advances in his chosen field and, when his income starts sufficiently exceeding his cost of living, he can address a retirement plan of his choosing which might, or might not, include cash value life insurance.

How do you know he was talking about himself......