Parents of Children Buy Life Insurance
Life Insurance agents know that Parents of children buy life insurance. This is because the responsibility of taking care of their family is a very pressing concern.
Most families depend on two incomes to make ends meet. The question is if the top wage earner in a family died suddenly, what would happen? Could that family continue meet all their financial obligations? From paying rent or the mortgage to daily living expenses? Could that family continue their standard of living on the spouse’s income alone? Would their plans for the future, like college, stay intact?
Life insurance makes sure that their plans for the future don’t die if they do. Consequently, that’s why life insurance agents are so successful when they market to this group.
As a matter of fact, in 2021 people age 18 to 44 bought the vast majority (84%) of policies exceeding $1 million in coverage. Most of these are millennials and Gen X-ers. These cohorts constitute most of our families with children.
Parents of New Babies
This is a time when this new responsibility weighs heavily on a parent. The U.S. government estimates that middle-income parents of infants born today will spend at least $242,000 each to raise those babies to age 18 — and that’s before you factor in college tuition (ouch!).
New Parent lists are available on a monthly basis, which gives Life Insurance agents the ability to reach out to Parents of New Babies on a continuous basis with a special message that’s geared to them.
New Parent lists start at $50.00 per month, which fits every life insurance agents budget. Just think about the lifetime value of a new parent’s life insurance policy.