SCENARIO
Clients insure assets that they have such as their house and their car. Yet, many clients do not insure their most valuable asset, their income.
TALKING POINTS
Advisor: "Dave, would you agree that it makes good sense to insure your most valuable assets? For example, you insure your house and your car correct?"
Client: "Absolutely."
Advisor: "You told me your house was recently appraised at $800,000 and you have insurance on it for the full replacement value. You also told me you paid $70,000 for your car and you have insurance on it. Yet, you have not insured your most valuable asset."
Client: "What do you mean?"
Advisor: "You are 40 years old making $150k / year. YOu are going to make $3,750,000 between now and 65. And yet, you have done nothing to insure this asset."
RESULT
You are now in a position to have a robust discussion regarding protecting their most valuable asset with disability insurance.
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