A brief group discussion (YouTube video) about persuading clients to purchase life insurance to cover at least part of their mortgage. Speakers role-play handling objections about cost, propose starting with partial coverage (e.g., $50,000) when full coverage is unaffordable, and emphasize using the fact-finder to identify existing life insurance and quantify need.
But I had a couple who were like, look, if it's even a dollar.
I can't afford it.
I understand that.
Everything in this world right now is very expensive. Look at the price of breathing.
I make that joke. I'm like, the price.
You step outside and you breathe and you're spending money. But with that one, if it's still too low, you should have already, if.
You set the table right, know whether or not they already have current life.
Insurance outside of work.
And I also, before I even go.
Over the numbers, would you agree or do y' all agree that something is better than nothing? Whether we get 10, 20, 30, 50, or 100% of the mortgage coverage, something is better than nothing, yes or no.
And get them to shake their head yes or no. If they say no, then go back. But most of the time they're going to say yes. And then if that one, like, let's say you run 100,000 and that's still too high.
Look, Mike, I really think that that's probably just too high for you right now.
Why don't we start with 50,000? That'll get something in place rather than.
Nothing and get your foot in the door and then we can increase it down the road. Does that sound like a plan? Does that work for you guys? However you want to say it?
I say. Usually I say, does that work for you guys?
And then go from there.
But you can get them pretty low. But if that's still too low, Bill Martin says, you can't fix broke, you can't fix stupid.
You can't fix broken.
You can't put money in their pockets.
You can't fix stupid.
If they're stupid, they're stupid.
You can't fix it, so move on.
Right. And there's some you guys that are seniors that, you know, maybe they can only afford six months of mortgage payments, right?
Yeah.
So six months is better than nothing. And remember, if we're asking what life insurance they have at in the front in the fact finder. Right. If we're asking what life insurance they have, we're finding if there truly is a need or if they're okay. Right. So. So that's what we're going to use throughout the whole thing. So if we don't feel like that's enough coverage, we need to explain to them and paint that picture for them what that's going to look like.
