GAMA International Journal Jul-Aug 2013 - 41
Personal Life Insurance Needs Worksheet
Final expenses (funeral, medical, accounting, and legal fees)
Debt liquidation (auto loans, personal loans, credit card, and student loans)
Emergency fund (six months of required income)
Mortgage cancellation amount
Education fund (children or spouse)
Child care
Subtotal the gross immediate cash needs:
Lump sum needs to provide income
Total lump sum needed:
Minus:
Current personally owned life insurance
Current saving/emergency fund
Retirement assets
Net amount of life insurance needed:
Plan design interest:
Guarantees versus projections related to premium
High potential for gains in cash value
Guaranteed level premiums
Return of premium if death does not occur
Limited premium payment feature
Accepts additional contributions
Income tax deferred accumulation
Income tax free benefits
Primary beneficiary
Monthly monetary commitment:
Based on these numbers, we ask prospects what they
would be comfortable adding to their monthly budget.
People tend to have 5 to 10 percent of their monthly
income available for something they believe has real
value. once i arrive at this figure, i schedule a follow-up
appointment to make a formal product recommendation and then i start the underwriting process with an
application.
The conversations that surround life insurance,
though difficult, are of paramount importance. The
Personal life insurance needs worksheet is a tool that
helps professional agents engage in meaningful dialogue
with prospects about life insurance. The more conversations we have and illustrative stories we tell, the more
beneficiaries we can protect. So the worksheet’s
effectiveness lies not in the numbers that get written
down, but in the peace of mind it brings to the insured
and that person’s beneficiaries.
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Donald G. Thomas, CLU ChFC RHU, is
an agency manager with Farm Bureau Financial
Services in Lincoln, Neb. He began his career
with Farm Bureau in 1989 as a multiline agent
in Wichita, Kan., and went on to hold various
agent and management positions before being
named agency manager. He has qualified for
GAMA’s International Management Award
at the Diamond level and was also a breakout session speaker at
LAMP ’05. He has received Farm Bureau’s Super All American and
All American Awards, has been a Pace Setter’s Qualifier, earned the
National Sales Achievement Award, and been named Farm Bureau's
Life Insurance Manager of the Year for Nebraska. He is a member of
NAIFA–Lincoln, the Lincoln Chamber of Commerce, and the Lincoln
Independent Business Association. Don and his wife, Mical, live in
Lincoln with their two daughters.
j u ly / au g u s t 2 0 13
41
GAMA International Journal Jul-Aug 2013
Table of Contents for the Digital Edition of GAMA International Journal Jul-Aug 2013
INSIDE GAMA INTERNATIONAL
INSIDE GAMA FOUNDATION FOR EDUCATION AND RESEARCH
WASHINGTON WATCH
LEADING INDICATORS
THE BIG 8: CORE PRACTICE EFFICIENCIES FOR FINANCIAL SERVICES SUCCESS
CREATING A PROSPECTING CULTURE
SELLING THROUGH STORYTELLING
2013 GAMA INTERNATIONAL RECOGNITION & AWARDS REGISTER
PRESIDENT'S MESSAGE
HAVE YOU READ...
THE LOTT SPOT
LEADERS' Q&A
INDEX OF ADVERITSERS
TOP 10
GAMA International Journal Jul-Aug 2013 - C1
GAMA International Journal Jul-Aug 2013 - C2
GAMA International Journal Jul-Aug 2013 - 1
GAMA International Journal Jul-Aug 2013 - 2
GAMA International Journal Jul-Aug 2013 - 3
GAMA International Journal Jul-Aug 2013 - 4
GAMA International Journal Jul-Aug 2013 - 5
GAMA International Journal Jul-Aug 2013 - 6
GAMA International Journal Jul-Aug 2013 - INSIDE GAMA INTERNATIONAL
GAMA International Journal Jul-Aug 2013 - 8
GAMA International Journal Jul-Aug 2013 - INSIDE GAMA FOUNDATION FOR EDUCATION AND RESEARCH
GAMA International Journal Jul-Aug 2013 - 10
GAMA International Journal Jul-Aug 2013 - 11
GAMA International Journal Jul-Aug 2013 - 12
GAMA International Journal Jul-Aug 2013 - WASHINGTON WATCH
GAMA International Journal Jul-Aug 2013 - 14
GAMA International Journal Jul-Aug 2013 - 15
GAMA International Journal Jul-Aug 2013 - 16
GAMA International Journal Jul-Aug 2013 - LEADING INDICATORS
GAMA International Journal Jul-Aug 2013 - 18
GAMA International Journal Jul-Aug 2013 - 19
GAMA International Journal Jul-Aug 2013 - THE BIG 8: CORE PRACTICE EFFICIENCIES FOR FINANCIAL SERVICES SUCCESS
GAMA International Journal Jul-Aug 2013 - 21
GAMA International Journal Jul-Aug 2013 - 22
GAMA International Journal Jul-Aug 2013 - 23
GAMA International Journal Jul-Aug 2013 - 24
GAMA International Journal Jul-Aug 2013 - 25
GAMA International Journal Jul-Aug 2013 - 26
GAMA International Journal Jul-Aug 2013 - 27
GAMA International Journal Jul-Aug 2013 - CREATING A PROSPECTING CULTURE
GAMA International Journal Jul-Aug 2013 - 29
GAMA International Journal Jul-Aug 2013 - 30
GAMA International Journal Jul-Aug 2013 - 31
GAMA International Journal Jul-Aug 2013 - 32
GAMA International Journal Jul-Aug 2013 - 33
GAMA International Journal Jul-Aug 2013 - 34
GAMA International Journal Jul-Aug 2013 - 35
GAMA International Journal Jul-Aug 2013 - SELLING THROUGH STORYTELLING
GAMA International Journal Jul-Aug 2013 - 37
GAMA International Journal Jul-Aug 2013 - 38
GAMA International Journal Jul-Aug 2013 - 39
GAMA International Journal Jul-Aug 2013 - 40
GAMA International Journal Jul-Aug 2013 - 41
GAMA International Journal Jul-Aug 2013 - 42
GAMA International Journal Jul-Aug 2013 - 43
GAMA International Journal Jul-Aug 2013 - 2013 GAMA INTERNATIONAL RECOGNITION & AWARDS REGISTER
GAMA International Journal Jul-Aug 2013 - 45
GAMA International Journal Jul-Aug 2013 - 46
GAMA International Journal Jul-Aug 2013 - 47
GAMA International Journal Jul-Aug 2013 - 48
GAMA International Journal Jul-Aug 2013 - 49
GAMA International Journal Jul-Aug 2013 - 50
GAMA International Journal Jul-Aug 2013 - 51
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GAMA International Journal Jul-Aug 2013 - 53
GAMA International Journal Jul-Aug 2013 - 54
GAMA International Journal Jul-Aug 2013 - 55
GAMA International Journal Jul-Aug 2013 - 56
GAMA International Journal Jul-Aug 2013 - 57
GAMA International Journal Jul-Aug 2013 - 58
GAMA International Journal Jul-Aug 2013 - 59
GAMA International Journal Jul-Aug 2013 - 60
GAMA International Journal Jul-Aug 2013 - 61
GAMA International Journal Jul-Aug 2013 - 62
GAMA International Journal Jul-Aug 2013 - 63
GAMA International Journal Jul-Aug 2013 - 64
GAMA International Journal Jul-Aug 2013 - 65
GAMA International Journal Jul-Aug 2013 - 66
GAMA International Journal Jul-Aug 2013 - 67
GAMA International Journal Jul-Aug 2013 - 68
GAMA International Journal Jul-Aug 2013 - 69
GAMA International Journal Jul-Aug 2013 - 70
GAMA International Journal Jul-Aug 2013 - 71
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GAMA International Journal Jul-Aug 2013 - 73
GAMA International Journal Jul-Aug 2013 - 74
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GAMA International Journal Jul-Aug 2013 - 77
GAMA International Journal Jul-Aug 2013 - 78
GAMA International Journal Jul-Aug 2013 - 79
GAMA International Journal Jul-Aug 2013 - 80
GAMA International Journal Jul-Aug 2013 - 81
GAMA International Journal Jul-Aug 2013 - 82
GAMA International Journal Jul-Aug 2013 - 83
GAMA International Journal Jul-Aug 2013 - 84
GAMA International Journal Jul-Aug 2013 - 85
GAMA International Journal Jul-Aug 2013 - 86
GAMA International Journal Jul-Aug 2013 - 87
GAMA International Journal Jul-Aug 2013 - 88
GAMA International Journal Jul-Aug 2013 - 89
GAMA International Journal Jul-Aug 2013 - 90
GAMA International Journal Jul-Aug 2013 - 91
GAMA International Journal Jul-Aug 2013 - 92
GAMA International Journal Jul-Aug 2013 - 93
GAMA International Journal Jul-Aug 2013 - 94
GAMA International Journal Jul-Aug 2013 - 95
GAMA International Journal Jul-Aug 2013 - 96
GAMA International Journal Jul-Aug 2013 - 97
GAMA International Journal Jul-Aug 2013 - 98
GAMA International Journal Jul-Aug 2013 - 99
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GAMA International Journal Jul-Aug 2013 - 112
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GAMA International Journal Jul-Aug 2013 - 114
GAMA International Journal Jul-Aug 2013 - 115
GAMA International Journal Jul-Aug 2013 - 116
GAMA International Journal Jul-Aug 2013 - 117
GAMA International Journal Jul-Aug 2013 - 118
GAMA International Journal Jul-Aug 2013 - 119
GAMA International Journal Jul-Aug 2013 - 120
GAMA International Journal Jul-Aug 2013 - 121
GAMA International Journal Jul-Aug 2013 - 122
GAMA International Journal Jul-Aug 2013 - 123
GAMA International Journal Jul-Aug 2013 - 124
GAMA International Journal Jul-Aug 2013 - 125
GAMA International Journal Jul-Aug 2013 - 126
GAMA International Journal Jul-Aug 2013 - 127
GAMA International Journal Jul-Aug 2013 - 128
GAMA International Journal Jul-Aug 2013 - 129
GAMA International Journal Jul-Aug 2013 - 130
GAMA International Journal Jul-Aug 2013 - 131
GAMA International Journal Jul-Aug 2013 - 132
GAMA International Journal Jul-Aug 2013 - 133
GAMA International Journal Jul-Aug 2013 - 134
GAMA International Journal Jul-Aug 2013 - 135
GAMA International Journal Jul-Aug 2013 - 136
GAMA International Journal Jul-Aug 2013 - 137
GAMA International Journal Jul-Aug 2013 - 138
GAMA International Journal Jul-Aug 2013 - PRESIDENT'S MESSAGE
GAMA International Journal Jul-Aug 2013 - 140
GAMA International Journal Jul-Aug 2013 - 141
GAMA International Journal Jul-Aug 2013 - 142
GAMA International Journal Jul-Aug 2013 - HAVE YOU READ...
GAMA International Journal Jul-Aug 2013 - 144
GAMA International Journal Jul-Aug 2013 - THE LOTT SPOT
GAMA International Journal Jul-Aug 2013 - 146
GAMA International Journal Jul-Aug 2013 - LEADERS' Q&A
GAMA International Journal Jul-Aug 2013 - 148
GAMA International Journal Jul-Aug 2013 - INDEX OF ADVERITSERS
GAMA International Journal Jul-Aug 2013 - TOP 10
GAMA International Journal Jul-Aug 2013 - C3
GAMA International Journal Jul-Aug 2013 - C4
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