TMK TMK Needs-Based Selling

TMK Sell Whole Life for permanent needs Sell Term Life for temporary needs Whole life vs. Term life

TMK year-old married man with a wife, two kids and a mortgage in Alabama. He has $100 to spend on life insurance. Scenario 1 Agent thinks the customer needs $50,000 of Whole Life $50,000 of Whole Life costs $76.86 With his remaining money, he can purchase $50,000 Term 20 RC for $ Needs Based Selling

TMK Scenario 1 If the customer dies in the next 20 years, his family receives $100,000. $50,000 Whole Life +$50,000 Term 20 RC In 20 years, the Whole Life policy will have a cash value of $9,396 and a reduced paid-up value of $29,050. Needs Based Selling

TMK Scenario 2 Final Expense need $15,000 $15,000 of Whole Life is $24.32 per month With his remaining money, he can purchase $200,000 Term 20 RC for $75.78 Needs Based Selling

TMK Scenario 2 If the customer dies in the next 20 years, his family receives $215,000. Needs Based Selling

TMK Scenario 1 $100,000 Death Benefit + $9,396 Cash Loan Value + $29,050 Paid up value Scenario 2 Needs Based Selling $215,000 Death Benefit Needs Based Selling

TMK If your loved one dies in the next 20 years, which one do you want? Needs Based Selling

TMK Insure the highest income earner first Insure the spouse second Insure children third Who should I insure first?