A potential issue with your professional and executive clients is the likelihood that their income protection plans are totally dependent on group LTD plans offered through their employer. The problem is LTD plans do not provide comprehensive income protection that most professionals and executives need.
The #1 reason brokers give for not writing disability income is the underwriting is too difficult. However, if brokers educate themselves and their clients about underwriting for disability income, they’ll be prepared for the process. The underwriting process can be divided into 8 simple steps:
Statistics show that people are more likely to become disabled than to die during their working years. When financial professionals and insurance brokers help their clients plan for their futures, it’s important that they discuss income protection, in addition to life, auto, health and homeowners insurance. Disability insurance insures clients will have an income source
There are risks in running any business, big or small. One of the biggest risks is a disabling injury or sickness that prevents the business owner from working in his or her business for a period of time. However, business owners who have individual disability protection and business overhead expense can keep their businesses afloat
Doctors are among the most frequent buyers of individual disability insurance, so if you want to be a successful disability insurance adviser or agent, you have to tap this market. Selling physician disability insurance may require some creative selling on your part, because medical professionals are often too busy to sit down long enough to