Larson Educational Services is the premier education provider in SW Florida. We are a Real Estate, CAM and Mortgage Loan Originator School. Classes are available in Fort Myers, Naples and Online.
Utilizing 40 years of real estate training and professional education experience, Florida real estate school Larson Educational Services is the premier provider of Florida real estate licensing, exam preparation, post-licensing, CAM licensing, mortgage loan originator licensing, and continuing education in Southwest Florida. Classes are available in Fort Myers, Naples, Sarasota, and online. We are an approved Florida Real Estate School (License #ZH1002299), Florida CAM School (License #PRE31), Florida Insurance School (License # 370501) and NMLS Approved Course Provider.
To learn more about LarsonEd's Florida real estate and Florida insurance courses, visit LarsonEd.com or give us a call at 239-344-7510.
About Larson Educational Services:
Utilizing 40 years of real estate training and professional education experience, Florida real estate school Larson Educational Services is the premier provider of Florida real estate licensing, exam preparation, post-licensing, CAM licensing, mortgage loan originator licensing, and continuing education in Southwest Florida. Classes are available in Fort Myers, Naples, Sarasota, and online. We are an approved Florida Real Estate School (License #ZH1002299), Florida CAM School (License #PRE31), Florida Insurance School (License # 370501) and NMLS Approved Course Provider.
They also came of age under the shadow of America’s greatest financial crisis since the Great Depression, which leads many of them to be apprehensive to invest in the stock market.
These dynamics create a unique demographic of people who may have a steady income they don’t yet know how to utilize.
This makes a wonderful opportunity for both clients and agents to provide them with life insurance services.
First, it’s good to understand the millennial mindset.
Different priorities
For some previous generations, starting life meant starting a career at the bottom of a ladder and working there until retirement, finding a spouse early, and having kids in their early 20s.
In general, millennials aren’t following this life formula.
Of course the housing market is out of millennials' control, but when and if they start a family is largely a choice they are making.
Because they don’t have dependents or a mortgage, and they do have a mountain of debt, they may not see the need for life insurance.
The first step is to let them know that life insurance is not nearly as expensive as they may assume.
They may not see the value in getting coverage to support a spouse and children they do not yet have.
Three ways to help ease this opposition:
Instill the importance of starting early
Emphasize the relative affordability of life insurance
Contradict misinformation about life insurance
Starting early
Let hesitant millennials know that life insurance doesn’t just cover funeral expenses, but it can help cover so much more, such as lost income, debt, and an inheritance.
And remind them that their rates are lowest if they start their policy young.
Inform potential millennial clients that life insurance policies are very unique to each policy holder. If, for example, they're thinking they don’t have the same financial needs as their parents (and therefore don't need a policy) they can absolutely get a different plan.
If they are one of many new millennial entrepreneurs, perhaps they could use a life insurance policy to protect their new company.
Digital services
Millennials expect and need online tools to help them find quotes for policies and an ability to enroll online.
By providing these tools and understanding millennials' viewpoints, you will be more able to provide a policy that fits their needs.
For more information or to sign up for health and life insurance education, visit our website, LarsonEd.com, or give us a call at 239-344-7510.
About Larson Educational Services:
Utilizing 40 years of real estate training and professional education experience, Florida real estate school Larson Educational Services is the premier provider of Florida real estate licensing, exam preparation, post-licensing, CAM licensing, mortgage loan originator licensing, and continuing education in Southwest Florida. Classes are available in Fort Myers, Naples, Sarasota, and online. We are an approved Florida Real Estate School (License #ZH1002299), Florida CAM School (License #PRE31), Florida Insurance School (License # 370501) and NMLS Approved Course Provider.
To learn more about LarsonEd's Florida real estate and Florida insurance courses, visit LarsonEd.com or give us a call at 239-344-7510.
About Larson Educational Services:
Utilizing 40 years of real estate training and professional education experience, Florida real estate school Larson Educational Services is the premier provider of Florida real estate licensing, exam preparation, post-licensing, CAM licensing, mortgage loan originator licensing, and continuing education in Southwest Florida. Classes are available in Fort Myers, Naples, Sarasota, and online. We are an approved Florida Real Estate School (License #ZH1002299), Florida CAM School (License #PRE31), Florida Insurance School (License # 370501) and NMLS Approved Course Provider.
Many people who are uninsured do not realize the tax benefits that come with a life insurance policy.
The importance of these benefits cannot be overstated.
They can help alleviate the tax burden your clients and their family will feel in retirement.
Understanding your clients' fears can help you understand their perspective, especially if their fears keep them (or have kept them) from buying a life insurance policy.
For example, most people are afraid of running out of money during retirement.
In fact, they often list this as their top retirement concern.
You can put their fears at ease by informing them about the possibility to access life insurance money on a tax-free basis in retirement.
This benefit is especially important for high net worth clients, they may be getting taxed at high rates to access other money, such as traditional IRAs.
Death benefits
Death benefits are often paid to beneficiaries tax-free, decreasing the tax burden on loved ones.
However, if those benefits are received as an annuity they may be taxable. Likewise, the interest accrued on a policy is potentially taxable.
Let your apprehensive clients know that some types of life insurance (for example, whole life policies) may pay dividends, yet they are not taxed like regular capital gains.
Instead, those dividends are considered a return on part of a premium paid. Therefore, they're not taxed unless the amount of the dividend exceeds the premiums paid.
If you succeed in highlighting these tax benefits for apprehensive clients (or prospects), you'll be more likely to assuage their fears about one of the most stress-inducing prospects of someone's life: their passing.
For more information or to sign up for health and life insurance education, visit our website, LarsonEd.com, or give us a call at 239-344-7510.
About Larson Educational Services:
Utilizing 40 years of real estate training and professional education experience, Florida real estate school Larson Educational Services is the premier provider of Florida real estate licensing, exam preparation, post-licensing, CAM licensing, mortgage loan originator licensing, and continuing education in Southwest Florida. Classes are available in Fort Myers, Naples, Sarasota, and online. We are an approved Florida Real Estate School (License #ZH1002299), Florida CAM School (License #PRE31), Florida Insurance School (License # 370501) and NMLS Approved Course Provider.
