Quote:
Originally Posted by bizaro86
Interesting - thanks for sharing. I actually tried to buy first-to-die insurance once. When were first married, neither my wife nor I could have covered our mortgage, but we had no kids. I figured why pay extra for a second payout, if one of us died the other one probably needed the money, but if we both died I didn't see a big reason to make sure our relatives ended up with a huge windfall. But the difference in cost between two regular term policies and a joint first-to-die was only a few percent, so I just bought the term policies.
|
As an insurance broker your reasoning is sound. A client-centred agent should have those conversations with clients to make sure they’re using the right type and amount of insurance. I favour loading up on term insurance, in most cases, but not buying the wrong kind that may generate a bigger commission for the seller.