Many families depend on two incomes to make ends meet.

If your client died suddenly, would their spouse or partner have enough money to cover your clients’ funeral costs, credit card balances, outstanding loans and daily living expenses?

Raising children is tremendously rewarding but can also be tremendously expensive. If your client died tomorrow, would their spouse or partner be able to financially provide their children with the opportunities your client had planned for them?

Would there be enough income to pay for school and college or university as well as all the living expenses along the way?

For most people, the family home is their most significant financial asset and their mortgage is their most significant liability.

If your client has a mortgage, onsider advising them to take out life insurance for the value of the mortgage to provide their family with the security of a fully paid home if the worst should happen.

Once your clients’ children are on their own and their mortgage is paid off, they may no longer need life insurance.

If your client died today, their spouse could potentially outlive them by many years. Advise your clients to consider whether their partner would have to make drastic lifestyle adjustments to make ends meet and whether your clients’ have adequate life insurance cover in place to ensure they avoid financial struggles in retirement.

The governments of approximately 40 countries levy some form of death duty, estate duty or inheritance tax on the estate of a deceased citizen or tax-resident, which must be settled by that person’s beneficiaries. Life insurance is often the most cost-effective solution to help a family pay these taxes.

Advise your client to consider whether their family is exposed to this potential liability and whether life insurance could be the solution to help them avoid having your estate broken up to pay the taxes due.