Chapter 12

The Insurance Agent and the Life Insurance Lotto

The Concept

There was a time when life insurance was thought to be a solution looking for a problem. Even worse, the thought that someone would receive a lot of cash because a loved one had died seemed somehow unethical—and to some, even immoral. But times have changed and now everything is expensive, even death. The average cost of a funeral is over $10,000. The cost of settling your decedent’s estate, including out-of-pocket expenses, court costs, professional fees, and your commission can consume up to 6% of total assets. Final medical bills that are not paid by health insurance can be enormous. And then you have the tax man, mortgage lenders, and noisy beneficiaries—all of whom cry ...

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