Mortgage protection is crucial for your clients. About 40% of households have a mortgage, with an average balance of $244,498.* Discussing life insurance for mortgage protection requires a thoughtful approach. Here’s a roadmap to guide you:

Build rapport: Ask open-ended questions about their home, family and financial goals.
Example: “How long have you been in your home?”

Identify risks: Discuss what might happen if they could no longer cover the mortgage, gently introducing the need for protection.
Example: “Have you considered what would happen to your home if something unexpected occurred?”

Educate on benefits: Explain how life insurance offers flexibility compared to lender-provided mortgage protection.
Example: “Life insurance lets your loved ones use the funds for any financial need, not just the mortgage.”

Personalize the solution: Tailor the policy to their mortgage, showing how it fits their situation.
Example: “We can match the coverage to your mortgage term, ensuring your family won’t worry about payments.”

Address objections: Discuss affordability, especially with term life options.
Example: “We can structure this to fit your budget while giving you peace of mind.”

Keep the conversation simple and focused on protecting your client’s home and loved ones.

*Source: Experian, 2023