2. Building cash value
Whole life insurance steadily builds cash value over time. For most people, it's difficult to save for the future. There's always a demand on your paycheck. Life insurance not only provides protection, it becomes it's own nest egg.
3. Growth regardless of stock market volatility
After a bull market lasting 10+ years, some people might have thought the stock market only goes in one direction, up. In 2020, they learned "Money talks. It says goodbye." Many people might be thinking they took on more risk than they thought. Insurance produces some products that grow regardless of market volatility. Other products allow you to share in stock market performance while enjoying principal protection.
4. Emergency cash
Many people invest in the stock market. Recent events might find them short of cash, yet selling their investments might mean taking a loss. Once insurance products have accumulated some cash value, many products allow the policy holder to borrow against that amount. It's a useful option to have.
5. Future income
Most people realize they are responsible for providing for their own retirement. They need to save towards that goal. After collecting a monthly paycheck for decades, many people want that to continue in retirement. People want the stability of knowing they won't outlive their assets, that they will always have income. Insurance products like annuities can provide lifetime income in retirement.
6. After I've saved some money, then I'll invest.
The financial services industry primarily invests lump sums. The insurance industry does a great job working with cash flow. Many products can be purchased with monthly or quarterly contributions. Your client doesn't need to wait. Your client can get started now.
There's a place for insurance in most people's lives. Sometimes, they need to be reminded.
(Credit: Thinkstock) 
Bryce Sanders is president of 
