An excellent way to increase your disability insurance quotes is to target a professional association. Nearly every industry and profession has its own association–dentists, physicians, attorneys, nurse practioners, architects to name a few.
The definition of disability is the single-most important factor to consider when discussing a disability income contract with your clients. It triggers the claim and determines under what conditions and how long a claim will be paid, so you and your clients need to understand the options.
Providing income protection for business owner clients in manual occupations can be a challenge. Individual disability income policies for these occupations with higher premiums, yet shorter benefit periods–usually 2-5 years–and fewer riders.
There are fewer disability income carriers in the marketplace than there were in the ’90s. However, there are several very good disability insurance companies that offer high-quality individual policies. How do you choose the right carrier for your client?
I speak to many producers who struggle with selling the need for disability income to their clients. Their clients believe that they can self-insure against disability (e.g. rely on spouses second income, borrow from credit cards, use savings). In every one of these cases, these individuals all make the following two mistakes: