When a Loved One Refuses to Discuss Life Insurance

Life insurance isn’t exactly the most pleasant of topics to discuss. I’m pretty sure it’s the talking point at very few, if any, cocktail parties. In fact, broaching the subject of death would probably be considered tasteless in some social circles.

In many settings, I can understand this mindset. But, what if it’s a family member who doesn’t have life insurance and refuses to tackle the issue?

Well, the good news is – you’re not alone. According to the 2016 Insurance Barometer Study by LIMRA, more than two thirds of adults in the U.S. don’t have an advisor or agent to guide them in planning for their financial future and are unsure where to turn.

The unfortunate news, is that life insurance is a critical component to the financial planning of anyone with a family and/or dependents. Not tackling this subject head-on could leave your loved ones in serious financial trouble. At the very least, it could force your family to make some difficult decisions during an already devastating time.

If you have a spouse or loved one who refuses to discuss life insurance, it might be time to take a different approach. Here are a few pointers that might help you open up a dialogue on the subject.

Understanding Why Will Help You Lead a More Productive Conversation

When trying to tackle any difficult issue, it’s important to understand where the other person is coming from. This will provide insight into what information you should bring to the discussion and your empathy will help you determine how.

There are a number of reasons why people choose to avoid the life insurance discussion. Perhaps the biggest reason, is that it forces them to face mortality. The discussion of death isn’t exactly a light subject, so it’s something most of us tend to avoid whenever possible. It would make sense, then, that the topic of our own death would be downright unnerving.

Cost is another deterrent for discussing life insurance. While this is understandable for the family that’s barely scraping by as it is, LIMRA’s Barometer Study also reveals that 80% of Americans overestimate the price of life insurance, with Millennials overestimating by as much as 213%. Armed with the right information, many consumers are willing to give up that daily Starbucks coffee to ensure their family is financially secure. While it might be difficult to imagine fitting it into your budget, those living paycheck to paycheck have the most to lose from an unexpected, uninsured death.

Lastly, it’s common for many to feel they simply don’t need the coverage, or have enough through their policy at work. What is the death benefit for your policy through work? $10,000? $20,000? The average funeral costs between $7,000 and $10,000. That doesn’t leave much for your family to handle the major life changes they’ll be facing in the coming years. One should also consider that the average American changes jobs ten to fifteen times in their lifetime. Your employer-provided policy cannot transfer with you from job to job.

What You Can Do

Now that we understand some of the reasons why your loved one might want to avoid the subject, let’s look at a few things you can do to help them see the light.

Do Your Homework Prior to Sitting Down

There’s a lot to consider when it comes to purchasing a life insurance policy. Part of your spouse’s resistance is the fear of the unknown, and not wanting to take the time to learn. Your best bet is to take a more hands-on approach, conducting much of the research prior to sitting down. Take a moment to visit the Vista Life Plan website for information regarding the different life insurance options available and to work up some quick quotes.

Our blog also offers tips on determining how much insurance you need, and a variety of other subjects.

Show Them the Numbers

With a majority of America unaware of how much life insurance really costs, it’s important that we dispel the myth that it’s unaffordable. Term life insurance offers consumers a flexible, inexpensive option and generally carries a rider allowing for conversion to a permanent policy within a certain timeframe. Since it’s affordable and easy to understand, this is the safest option to introduce to your reluctant spouse.

Wait for the Right Time

If you already know life insurance is a touchy subject in your household, it makes sense that you would wait for the appropriate time to discuss it. Set aside some quiet time to meet with your spouse. Eliminate any other distractions and stresses and be prepared for a little resistance. Offer the facts and do your best to not sound defensive. Remember, you’re asking him/her to discuss something they’re uncomfortable with; you can’t expect them to jump onboard without any opposition.