All life insurance salespeople regularly meet people who are delusional about how much capital is needed to replace their career earnings.

According to LIMRA, in Canada, insured husbands have enough life insurance to replace their income for 4.1 years, and wives for 4.6 years.  What to do?

Years ago I worked with an experienced and creative salesman who had a simple question that tended to bring the prospect closer to the real world.

“Are you planning to be dead long?”

Once that settles in, you can be more analytical and proactive.

“What you have here will last a year or maybe two.  Would you have any objection if I showed you a way to do something about that?”

Don Shaughnessy is a retired partner in an international accounting firm and is presently with The Protectors Group, a large personal insurance, employee benefits and investment agency in Peterborough Ontario.

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About #nofeeslender

Having invested more than a decade of solid experience in the Real Estate Mortgage Industry (in Retail Banking, Retail Brokerage and Wholesale Banking Lending) along with countless years of cutting-edge, high-technology real estate computer system knowledge, I gratuitously provide my Valued Clients--both "Property Virgins" and Long-Term "Real Estate Gurus"--with informative, analytical, technological, resourceful and expert advice that help them make the best informed decisions for their own unique situations to reach their mortgage planning goals. Specialties:"I specialize in helping individuals like you and family like yours find, qualify for and own a home of their dream with little or no money down, even with less than perfect credit!"
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