Reason Why Letter Samples

Reason Why letter samples
Sample #1 – Life insurance
(Name of client),
Based on my review of your needs and subsequent recommendation, you purchased a [type of
insurance, coverage amount]. The policy is called [name of policy] and is issued by [name of insurer].
When we met, you indicated that you [summary of client facts/circumstances]
This policy meets your needs by providing the coverage you want (amount of coverage) in the least
expensive way. You could extend the coverage with a longer term but this is more expensive.
We also discussed critical illness insurance and you indicated it isn’t an immediate priority and will think
about it some more. We agreed about this time next year, we will discuss the critical illness issue.
If any of this information about you or your needs is not correct, please let me know right away. If you
have any questions about the policy, please don’t hesitate to ask me now or at any time in the future.
You should also keep this letter with your personal papers as a reminder of why you purchased the
policy.
Sincerely,
(Name of advisor)
__________________________ ________________________
(client name) Date
Sample #2 – Segregated Funds
(Name of client),
Based on my review of your needs and subsequent recommendation, you purchased a [name of insurer]
segregated fund [name of fund] for [amount]. When we met, you indicated you wanted to invest in the
equity market but didn’t feel comfortable with the risk that goes with investing in mutual funds. Instead,
you said you wanted to put your money in a segregated fund.
This segregated fund product you purchased has [the basic (75%) death and maturity guarantees and
this means the most you can lose is 25% of your investment. This guarantee applies if you keep your
money invested in the contract until it matures or you die]. As we discussed, if you need to withdraw
money before then and the market value is down, the value of your investment will be down by the
same amount.
This contract has different fee options. You selected the [fee structure chosen].
If any of this information about you or your needs is not correct, please let me know right away.
If you have any questions about the policy or your investments, please don’t hesitate to ask me
now or at any time in the future. You should also keep this letter with your personal papers as a
reminder of why you purchased the policy.
Sincerely,
(Name of advisor)
__________________________ ________________________
(client name) Date
Sample #3 – Not fully Implemented
(Name of client),
Based on my review of your needs and subsequent recommendation, you purchased a [type of
insurance, coverage amount]. The policy is called [name of policy] and is issued by [name of insurer].
When we met, you indicated you would like [summary of client facts/circumstances]
Based on your ability to afford the policy premium payments, you decided to decrease the coverage to
[new amount] which only partially meets the need identified.
policy.
Sincerely,
(Name of advisor)
__________________________ ________________________
(client name) Date
Sample #4 – Client Directive
(Name of client),
On your request, I have submitted an application for [name of policy] with [name of insurer]. This [type
of product, coverage amount] corresponds to [reason for this amount].
Example 1. For Mortgage Insurance need only

As your bank requires, the policy is collaterally assigned to [name of bank]. If you die and the death
benefit is greater than the amount owing on your mortgage, the difference will go to the beneficiary you
named.
Example 2. For Final Expenses Only

As you determined that the amount of life insurance coverage ( $ amount) is required to meet the needs
of your final expenses.
Example 3. Divorce requirement

As you have been required to acquire Life Insurance coverage of ($ amount) to comply with the terms of
your divorce agreement.
policy.
Sincerely,
(Name of advisor)
__________________________ ________________________
(client name) Date

Reason Why Letter Samples

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Reason Why Letter Samples

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What type of insurance product is discussed in sample 1?

What type of investment product is discussed in sample 2?

Reason Why letter samples

Sample #1 – Life insurance

When we met, you indicated that you [summary of client facts/circumstances]

Example 1. For Mortgage Insurance need only

Example 2. For Final Expenses Only

Example 3. Divorce requirement

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