Boost Your Life Insurance Sales with LBAM

Life insurance is no longer just about providing a death benefit to your clients' loved ones—it’s about offering comprehensive protection that meets the challenges of today’s uncertain world. Living Benefits, which allow policyholders to access their life insurance funds in the event of critical, chronic, or terminal illnesses, are rapidly becoming a game-changer in the industry.

As January marks Living Benefits Awareness Month (LBAM), now is the perfect time for insurance professionals to educate their clients about the importance of modern life insurance policies with Living Benefits. Let’s explore the statistics that underline the urgency of this conversation and how you can use them to connect with your clients.

The Numbers Speak Loudly

1. The Reality of Critical and Chronic Illness

   • According to the American Heart Association, every 40 seconds, someone in the U.S. experiences a heart attack or stroke.
   • Cancer diagnoses are similarly widespread, with the American Cancer Society estimating 1.9 million new cases in 2024 alone.
   • Nearly 60% of Americans live with at least one chronic condition, and 42% have two or more, according to the Centers for Disease Control and Prevention (CDC).

2. The Cost of Medical Care

   • Out-of-pocket healthcare costs have skyrocketed in recent years, with the average annual out-of-pocket spending for individuals surpassing $1,650 in 2022—a figure that continues to climb.
   • For families facing critical illnesses, the financial burden is often devastating, with medical bankruptcies accounting for nearly two-thirds of all personal bankruptcies in the U.S., per a report from the American Journal of Public Health.
   • Crowdfunding campaigns on platforms like GoFundMe are a growing trend, with 1 in 3 campaigns now launched to cover medical expenses—a clear indicator of unmet financial needs.

Why Living Benefits Matter to Your Clients

Traditional life insurance provides peace of mind, but it may fall short when clients face financial challenges due to health crises. Living Benefits solve this gap by enabling policyholders to access a portion of their death benefit while alive to cover:

• Medical treatments
• Lost income during recovery
• Everyday expenses like mortgage payments

How You Can Use LBAM to Boost Sales

1. Educate with Impact
   Share these compelling statistics with your clients. Explain that Living Benefits provide a safety net, not just for their loved ones after death, but for themselves during life-altering medical situations.

2. Highlight Rising Costs
   Use real-life data to illustrate the increasing financial strain of healthcare. Show how Living Benefits can protect clients from having to drain their savings or resort to high-interest loans.

3. Offer Real Solutions
   Leverage January's LBAM campaign to host seminars, share testimonials, or run targeted social media ads emphasizing the critical need for life insurance with Living Benefits.

4. Partner with Experts
   Collaborate with organizations like Alliance Group, which provides marketing tools, training, and educational materials to help you communicate the value of Living Benefits effectively.

Conclusion

As an insurance professional, you have the power to offer policies that not only protect your clients' families after they’re gone but also safeguard their financial well-being while they’re alive. By focusing on Living Benefits and educating your clients about the realities of critical illness and rising healthcare costs, you position yourself as a trusted advisor who delivers modern, relevant solutions.

Take advantage of Living Benefits Awareness Month to elevate your practice and ensure your clients are prepared for life’s unexpected challenges.