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Creating a Financial Foundation

SCENARIO


Clients are visual. Showing the value of protecting the financial plan is vital for them in purchasing income protection. A lot of advisors talk about "the financial house" or "the financial pyramid".


TALKING POINT

Advisor: "Dave, in planning it is important to know what you have and what you want/need, so I can show you how to get there".

"The first level is knowing your mortgage, utilities and groceries (MUG) are always covered. These are things you cannot survive without. Then we need to discuss your savings (investments, college planning, vacation, home, etc.) Then we need to discuss your plans for retirement. But what is important is that all of these levels sit on a solid foundation, your income. Without an income, non of these levels can be achieved and maintained".


RESULT


Your client now identifies how important income is to the financial plan. The plan is resting on income. A good disability policy will protect the financial plan if the income goes away.

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