Have Your Clients Lost That Lovin’ Feelin’?

With the sequel to Top Gun hitting the cable channels lately, AIP Marketing Alliance doesn’t want to come off as “righteous” about consumers’ assumptions about life insurance. However, February serves as the best month to check in and reconnect with your clients by showing how the benefits of life insurance could protect their loved ones and preserve their legacy.

That’s why Insure Your Love month has grown in popularity to eliminate the myths, position products to fit their budget, and truly show life insurance’s value. Let’s just say, life is like a box of chocolates, you never know what you’re going to get… but life insurance can provide the best Valentine’s Day gift that keeps on giving.

To support these efforts, AIPMA has created new Insure Your Love social media graphics and a video to help you virtually nuzzle up toward that appointment with a prospect or reconnect the dots with a life insurance policy review with current clients.

With this week’s newsletter theme, AIPMA could walk that line and drop the whole “highway to the Danger Zone” sales concept of not having adequate life insurance coverage. COVID-19 caught a lot of people unexpectedly without a policy, generated some fear, and possibly has led to more interest in life insurance.

Instead, AIPMA is going to start 2024 by targeting those clients and prospects who have shown more interest in life insurance during the last couple of years.

According to LIMRA’s 2023 Insurance Barometer Study, consumers in two main demographics have shown more interest in purchasing life insurance. Gen Z (ages 18-26) grew 6% year-over-year from 2022 to 2023, while Millennials (ages 27-42) also purchased more life insurance (3% year-over-year). With that in mind, 53 million Americans in these age groups believe they have insufficient life insurance coverage.

• What are the major reasons Gen Z and Millennials love life insurance? The main answers are covering burial and final expenses, transferring wealth or leaving an inheritance, helping replace lost wages/income, or supplementing retirement income.
• What are the major reasons Gen Z and Millennials lost that lovin’ feelin’ with life insurance? They believe it’s too expensive, have other financial priorities, are not sure how much or what type to get, or they “haven’t gotten around to it.”

If you are looking for prospects, LIMRA also states there are more than 100 million uninsured and underinsured Americans who say they need (or need more) life insurance coverage. 38% of Americans say their household would face financial hardship within six months should a wage earner die unexpectedly — 30% would struggle financially within a month.

Need some help with your Insure Your Love promotions? You can contact our Business Development team at (800) 783-5206 press #2, or [email protected] to receive the latest Insure Your Love materials or our Life Insurance Policy Review kit that helps you with forms and guidance on setting the LIPR appointment. You also can check out the latest AIPMA blog to preview this year’s materials.

Take these steps while hearts are heavy in February. Your clients may have lost that lovin’ feelin’, so feel free to share this reminder from Top Gun in your emails or social media network to bring back that lovin’ feelin’, before it’s gone, gone, gone… whoa-oh-oh-oh. Thanks, Maverick and Goose, for getting this LinkedIn newsletter started.