Slide 1 - Life Insurance_ Dental by qingyunliuliu

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									      The Straight Story:
      Life Insurance Basics for New Parents




    Beth Hirschhorn
    Chief Marketing Officer
    MetLife
    July 21, 2010
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    The best of intentions


     For consumers age 25-44

       The purchase of life insurance is no longer a cultural
        ―must do‖ it’s a ―should do.‖

       Parenthood begins to tip the scale from should, to must.

       More than half of them know they are underinsured
        AND plan to act!

       Many begin – most don’t finish.




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      A fundamental disconnect
         Younger Consumers
             • Are generally not financially confident
             • Expect to be in control of the interaction
             • Don’t know how much life insurance they should have
             • Don’t know how much it should cost
             • Prefer to self educate before engaging in significant purchases
             • Do not trust commissioned salespeople to help them


    They turn to the internet for information
    but are frustrated by what they find
             • Incomplete and contradictory information
             • Lack of information on the cost of life insurance
             • Inconsistent recommendations on ―the right amount‖
             • No frame of reference for what a good deal is



          Result: 8 in 10 abandon the process
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     In their own words
                                “I know life insurance is important to have. But
                                when does that come into play?”


          “… only after the birth of
          my daughter - we actually
          decided to stop talking                       “I know enough
          about life insurance, and                   about life insurance
          start doing something                        to be dangerous.
          about getting it.”                             Just enough to
                                                      realize I don't know
                                                          much at all.”
      ―I tried to use a couple of
     online tools but they were
    very confusing because they
     do not give you a straight                      “I asked for quotes
                answer.”
                                                    to be emailed to me
                                                       but no company
     “I don't want to be talked into                     would reply.”
        getting something I don't
       need, or I don't want facts
         manipulated so that [an
        agent] will make a better                       “No one will ever be
                  sale.”                                able to convince me
                                                        that I wasn’t ripped
                                                        off.”
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    Sharing the straight story -
    Simple Facts About Life Insurance

     1.   IF YOU HAVE DEPENDENTS — YOU NEED IT

     2.   LIFE INSURANCE HELPS REPLACE YOUR PAYCHECK
          IF YOU AREN’T THERE TO EARN IT

     3.   SOME LIFE INSURANCE IS BETTER THAN
          NO LIFE INSURANCE

     4.   LIFE INSURANCE IS LESS EXPENSIVE THAN YOU THINK

     5.   LIFE INSURANCE IS A SMART FINANCIAL MOVE

     6.   MAKE SURE YOU KNOW HOW MUCH LIFE INSURANCE
          YOU GET AT WORK

     7.   LIFE INSURANCE NEEDS CHANGE OVER TIME



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    Simple Facts About Life Insurance


    1. IF YOU HAVE                     2. LIFE INSURANCE HELPS
       DEPENDENTS — YOU                   REPLACE YOUR PAYCHECK
       NEED IT                            IF YOU AREN’T THERE TO
                                          EARN IT
      If you have children or people     60% of annual income times
      who depend on the money you        years to retirement gives you a
      earn, you need life insurance.     reasonable estimate of the
      Life insurance helps those you     amount of life insurance to buy.
      care about keep on living as       It takes your salary, assumes
      they would if you were still       some normal raises over time,
      earning a paycheck.                and adds the value of your
                                         employee benefits, like
                                         healthcare. Then it subtracts the
                                         effect of taxes, and what it costs
                                         your family to have you around.


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    Simple Facts About Life Insurance


          3. SOME LIFE INSURANCE                                                       4. LIFE INSURANCE IS LESS
             IS BETTER THAN                                                               EXPENSIVE THAN YOU
             NO LIFE INSURANCE                                                            THINK
                 Some life insurance is better                                                 Many people think life insurance
                 than no life insurance. A good                                                is much more expensive than it
                 starting place is coverage                                                    is. In fact, many people can get
                 that equals outstanding                                                       term coverage from a quality
                 debt (including mortgage, car                                                 company for a surprisingly
                 payments and student loans)                                                   low price. A healthy 35 year old
                 plus 5 years of annual                                                        can pay as little as $30 a month
                 salary.                                                                       for $500K of coverage.1 Life
                                                                                               insurance does get more
                                                                                               expensive as you get older. It
                                                                                               makes sense to buy as much
                                                                                               as you need while you’re
                                                                                               young and healthy.


    1   Rates for term life insurance vary based on gender, age, health and other underwriting factors.
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    Simple Facts About Life Insurance


    5. LIFE INSURANCE IS A             6. MAKE SURE YOU KNOW
       SMART FINANCIAL                    HOW MUCH LIFENSURANCE
       MOVE                               YOU GET AT WORK
       To get the amount of coverage     Many people assume they have
       we recommend, you can             more coverage at work than
       expect to pay about 1% of         they really do. We recommend
       your annual salary on the         that people look carefully at the
       annual cost of term life          amount of coverage they get, then
       insurance. (Spending 1% of        buy additional life insurance, either
       your income to protect years      through their benefits plans at work
       of income is a pretty good        or on their own, to make sure they
       deal.)                            have the right amount of coverage
                                         for their unique needs.




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    Simple Facts About Life Insurance


     7. LIFE INSURANCE NEEDS
        CHANGE OVER TIME
       Things like new family
       members, a new job, a move,
       or even a raise at work.
       Review your protection every
       year during the benefits
       enrollment period at work or
       when you receive your Social
       Security statement in the mail.




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     Breaking down barriers
      • No complex or confusing questions
      • No contact information required
      • No sales pressure



      How much do I need?                   How much does it cost?
       Personalized coverage                   Instant online quote
      amount recommendations                provides insight into price




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     Get Your                      Own Straight Story



              MetLife.com/familyfinance

                       Needs Assessment Tool
                       Instant Quote Tool
                       Simple Facts about Life Insurance


     Like most insurance policies, MetLife policies contain exclusions, limitations, reduction of benefits and terms for keeping themin force. Term life
     insurance issued by MetLife Investors USA Insurance Company, Irvine, CA 92614 (except NY), policy form #5E-21-04 and First MetLife
     Investors Insurance Company, New York, NY 10166 (NY only), policy form #5E-21-04-NY. MetLife Investors USA Insurance Company and First
     MetLife Investors Insurance Company are members of the MetLife family.


                                                                                                   Metropolitan Lif e Insurance Company, New York, NY
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                                                                                                                          L0710119672[exp0711][All States]
     “Family Finances Rewired:
     The Straight Story for New Parents”

     Questions & Answers




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     Questions & Answers




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