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Category: Sales · 5 min read

Understanding 5 Common Life Insurance Concerns and How to Talk Through Them

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on February 14, 2019

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on February 14, 2019

A professional-looking man and woman talking with another professional

Almost everyone knows what life insurance is, but not everyone may realize that they might need it (or maybe need more of it). In fact, when you bring it up to your clients, they may get defensive or list off their concerns to getting their own life insurance policy.  

To help you understand these doubts when talking with prospects and clients, here’s how to approach the most common concerns and show clients the opportunities provided by life insurance. 


1. I Don’t Need it Right Now  

This may be the most common of the five common concerns. Many people don’t realize that the best time to buy life insurance is often when they don’t need it. When you have a prospect or client say this, tell them “Perfect! That may be why you should think about purchasing it now.” Then, explain to them why: Life insurance can be less expensive when you’re younger and healthier. So, the right time for your prospects and clients to get a life insurance policy may be sooner rather than later.  

You can also ask them when they think they might need it. Let’s face it, the time most people might think about needing life insurance is when they are sick or have had an accident, because they want to be assured that their family will be financially sound without them. In this instance, it’s okay to have an honest conversation about the reality of death. Talk about it in a matter-of-fact way to get the point across that life insurance is mainly for the appointed beneficiaries, once life is over. If clients wait until an accident or illness makes them really think about their mortality, it could be more difficult or costly for them to purchase a policy. 


2. It Costs too Much 

This is a valid concern. Your prospects and clients may initially think life insurance costs too much, even before they see the actual numbers. A recent LIMRA study found that consumers overestimate the cost of life insurance, and 44 percent of millennials think life insurance is five times more expensive than it actually is.1 

To understand the cost concern, there are a couple things you can do. First, talk through the benefits. Reinforce what they will be getting from the policy, such as reassurance that their loved ones may be taken care of after they pass away. Then, ask if there are any extra benefits that they might possibly want added, like additional riders, and make sure you discuss additional costs when talking about adding riders and other benefits to life insurance policies.  

Finally, you can ask them if they’d like to see a different option or policy that might be less expensive, but with different features. For example, maybe a term life policy would be a better solution, instead of permanent or whole life. Remember, regardless of the type of policy, it’s important that you talk through all of the features.  

A recent LIMRA study found that consumers overestimate the cost of life insurance, and 44 percent of millennials think life insurance is five times more expensive than it actually is.1

3. I Need to Think About It 

When was the last time you heard this one? Probably recently, if I had to guess. When a prospect or client says they need to think about it more, there’s most likely a reason for their hesitancy. Take this opportunity to revisit the reasons they expressed they wanted an insurance policy in the beginning, and ask them if anything has changed since then. Did they start a new job with life insurance coverage? Or did they just change their mind? Whatever the reason for their hesitancy, try to get to the bottom of it, and see if you can have a conversation with them about it.  


4. I Have Enough Life Insurance 

But do they, really? LIMRA’s 2018 Insurance Barometer study revealed that one-in-five people said they didn’t have enough life insurance.1 The truth is that even though your prospects and clients may think that they have enough life insurance already, there may be a good chance they need more.  

To get them to rethink their life insurance situation, ask them about their financial goals and retirement wants. Have they received a raise or changed careers since their last policy was issued, and now possibly need more coverage? Are there any additional benefits that more life insurance could give them to help them accomplish their goals? Or, could a different life insurance policy help them cover essential expenses after they die? In other words, use this as an opportunity to assess their financial situation and future needs, and make recommendations based on their needs. 


5. I’m Concerned About the Health Exam 

This is where you tell your clients the good news: there are life insurance policies where you don’t have to take a health exam in order to be approved. You know it, I know it, but your prospects and clients may not. Since these policies generally have substantially higher premiums, be upfront and honest about the differences in these types of plans, including the benefits and costs. Talk through this concern with ease by showing them policies that don’t require health exams. 

Obviously, these aren’t the only concerns when it comes to purchasing life insurance, but this can help get you started on the right path. All of these concerns center on a couple common factors: being honest and holistic. Give your prospects and clients a picture of their retirement strategies, and do it in a sincere and truthful way.  



1. LIMRA. “2018 Insurance Barometer.” 2018.  


For Financial Professional use only, not for use with the general public. #19-0058-020520

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Written By

Mark Williams

President and CEO

Mark Williams is the President/CEO of Brokers International. Over his more than 25 years of financial services experience, Mark has been both a producing independent agent in the field and a home office leader consulting to agencies and field marketing organizations. Currently, Mark is focused on the future of the insurance industry, from the disruptions of InsurTech and robo-advisors to the changing demographics and needs of customers. He also is an avid mentor, helping financial professionals navigate the industry.

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