Solutions for Every Stage of Life

Sam Rocke   |   September 2023   |   3-minute read

Finding the right insurance solution for every stage of life

Download the Life Events Timeline

As a financial planner, you set yourself apart by building relationships with your clients and by being there for all their financial needs. But when these needs call for insurance, it can be intimidating to know what to suggest.

Let’s walk through the opportunities different milestones provide, what your clients may be thinking about, and how you can help steer the conversation to create peace of mind.

Holistic planning for all of life’s events

The Life Events Timeline is the key roadmap to identifying common concerns based on the stage of life your client is in.

We’ve broken the planning cycle into four different stages: Foundation, Protection, Accumulation and Legacy. Although each individual client is different, and may relate to pieces in different buckets, it’s important to show them how they all fit together for a complete financial picture. The one common thread that runs through it is the need to plan ahead.

On the bottom, we offer some ideas of insurance products that could help answer concerns.

And, best of all, this piece is intended to be shared with your client, giving you a helpful guide for having the discussion.

Follow these steps to have a productive client conversation

  • Ask your client which milestones fit their current life stage. Don’t get hung up on the ages —they are there only to offer a starting point. Each client will vary. Focus on whichever stage they feel best describes what’s happening in their life and their current concerns.
  • Address their concerns. Talk through what they are worried about, listening to the underlying causes and paying attention to where they are headed.
  • Talk through possible solutions. Use the timeline to explain which insurance products can help address their concerns. You could also point out what to prepare for in the near future.
  • Get specific and follow up. After you identify your client’s life stage, get specific about which products your client might consider. Leave them with the one-pager that fits their situation. There are separate pieces for each stage: Foundation, Protection, Accumulation and Legacy

Leave your clients with a take-home sheet

The one-pager is a tangible takeaway from your conversation, to keep them thinking after they leave your office. You’ve already gotten their heads nodding in agreement with what stage they are in. Now, give them something to keep them thinking.

  1. Foundation. During this stage of life, the focus is on building a financial foundation. Marriage, purchasing a home, starting a family, earning a higher degree — all of these events impact their financial decisions. And, while your clients are starting out, and may have limited assets, it’s essential to look down the road a bit to keep ahead of what’s coming next. Download it here.
  2. Protection. During this stage, careers are in full swing. Your client’s family is growing and they’re in their prime earning years. There’s also a chance they’re concerned about aging parents and how to help them get the care they need. Help them balance their protection needs with this flier.
  3. Accumulation. At this stage of life, retirement is getting closer and it’s time to maximize assets. Kids are leaving the home and your clients might be looking forward to becoming grandparents. It’s not about building a career anymore. It’s about making the most of everything they’ve already achieved. It’s time to put their assets to work for them.
  4. Legacy. Your client has made it. Retirement. Travel and leisure. And thoughts of leaving a legacy to children or grandchildren. Instead of just planning for their lifetime, look ahead to future generations. In addition to having enough assets for their lifetime, you want to help them leave their mark.

Regardless of which life stages your clients are in, your Ash team is here to help you navigate through them. From a basic term quote to advanced solutions, we’ve got you covered.

About the Author

Sam Rocke leads the protection sales, advanced planning and RIA teams at Ash Brokerage. He's driven to produce the best possible results for each individual, family or business by providing objective evaluations of insurance solutions.