In the Property and Casualty business the term “replacement cost” is the cost needed to replace an item or structure to their pre-loss condition.  Most people would never consider having their home, car or any other material possession insured for anything less than Replacement Cost.  Why, because they don’t want to have to pay to replace the “thing” out of their pockets.


What about your life or your clients life?  Do you know what the Replacement Cost for a life might be?  Have you even considered it?  Probably not and that is scary!  If you or your client died TODAY, what would it take to replace that person?  Fortunately, the LIFE Foundation has created a Human Life Value Calculator that you can use to determine the need and it is free to use at any time.  Simply click here to calculate a Human Life Value.  This number will give you a great idea of what the Replacement Cost of you or your clients current income.

What now?  Fix it!  Talk about the need to cover the Replacement Cost with life insurance. Whether you choose something temporary like term insurance or something permanent like Universal or Whole life, it is important that this need be covered.  Think about this, if someone loses their life, the materials things don’t matter any more.  The only thing that matters is the well-being of those left behind.

Take time to determine Replacement Cost of life.  It is definitely more important than anything else they have covered! 

If you want help with this, simply let me know what you need!  Like the late Will Rogers said “Anyone who dies without life insurance should have to come back to see the mess they’ve created”