3 Ways To Market Life Insurance As A Holiday Gift

Everyone's writing their lists and checking them twice this time of year and with the pandemic on another upswing, people are looking for unconventional ways to shop and impactful ways to give right now. 

​While most of us are shopping online from the comfort of our own homes, few have probably considered making a phone call to their insurance agent and gifting someone they love with a life insurance policy. If you're looking to promote your life insurance products to your clients this time of year, here are a few excellent ways to market them.

BUYING FOR A CHILD
There's never a better time to buy life insurance for someone than when they're young and in perfect health. Young people have a better chance of being insured than older people because of illness and general wear and tear that happens throughout the course of a lifetime. By gifting a policy to a child or grandchild, you're guaranteed insurability because, god willing, the child is in excellent health.

BENEFIT OF A GUARANTEED PURCHASE RIDER
Sometimes, when giving life insurance as a gift, the policy may come with what's known as a Guaranteed Purchase rider. This means that the recipient, or policy holder, will be guaranteed the ability to purchase additional insurance at another time regardless of illness or medical condition. This is an excellent benefit as it allows the insured to continually add to the policy for years to come.

LIFE INSURANCE CAN BE USED FOR MORE THAN YOU THINK
Most people think that a life insurance policy can only be used in the event of the insured's death, however, life insurance policies can be used in other scenarios.

 • RETIREMENT - Some life insurance policies offer the opportunity to build cash over time so that the resulting cash value can be used as a form of income when the insured retires.

•  CHARITY - Having a life insurance policy makes the insured more apt to have the opportunity to make a larger donation to charity than would be allowed if they were not insured. 

•  COLLEGE - Life insurance can also be used to make tuition payment for the insured future family. This makes it an excellent gift for a child.

While many people wouldn't expect to find a life insurance policy under the tree, once all of the potential uses and benefits of receiving one are explained, most people would be thrilled to receive one. Since no one is able to tell the future, especially in these strange times, having a level of protection to fall back on will be more appreciated than usual.