I have a feeling I’m going to press some hot buttons here. I’ve been in the financial services industry for 17 years and if I had a nickel for every time a husband/client said something to the effect of “Sure, I die and she gets to spend all of this (insurance) money with some other guy.” I’d be a rich woman.
I’m not kidding, they actually think that this will happen, and the thought of it may preclude them from obtaining the right amount or type of insurance they need to provide for their families.
Then again, maybe they just hate spending the money on premiums.
Either way, selling life insurance is much more difficult to the breadwinner husband, especially if the wife does not work outside of the home. You’d be surprised at the behavioral finance mayhem that takes place at one of these meetings and the subconscious thoughts that only rarely get verbalized (“She could get a job.”; which may be true, but beside the point). This is why I collaborate with mental health professionals.
Sure, most men want to provide for their families, that’s not the issue; the issue is that they fear that some chunk of cash may pose as a replacement for them. That’s not only untrue but really, really sad. It may prevent them from moving forward, though. The advisor could create all kinds of projections and (good) reasons for the husband to buy the policy, but it will go right out the window – leaving the advisor very confused as to what s/he did “wrong” – unless and until the husband realizes that he is so much more than money, but at the same time, the lack of his presence and wages could have a devastating effect on his family.
Those of you who are married or in committed relationships have care, consideration and love for your spouse/partner and children. Don’t let your irrational fears preclude you from putting that care into action to ensure the financial stability of the ones you love.