Clarifying the different definitions of disability is critical when brokers discuss disability income policies with perspective clients. The definition of disability in a disability insurance policy determines under what circumstances a claim will be paid. Don’t jeopardize your client relationships by recommending a disability income policy with an inadequate definition for their occupation. “True” Own Occupation Definition The “true”
“Why paycheck protection? I was thinking about life insurance,” your young professional client asks. Here’s why: As a nation we carry a heavy debt load, especially in times of optimism when jobs are plentiful and economy is humming. Two out of three Americans live paycheck to paycheck. Losing income for even a short period of
Individual disability income insures that your clients will be able to maintain their financial independence in the event they become too sick or injured to work for a period of time. Yet, a LIMRA study shows that only 18% of consumers recall being approached about buying disability insurance – less than half as many as those being approached for life insurance.
Disability income (DI) is earning our associates thousands of extra dollars in compensation. Source Brokerage, Inc. represents the major DI carriers and has the expertise you need to increase your commissions by $100,000 in just five years with DI sales.
Financial advisors play a key role in educating clients about the benefits of disability insurance. In Steve’s recent DI Podcast, Chris Wilmes shared in his interview that he would not have thought about disability income protection if his advisor had not brought it up. Your DI Toolkit We’ve put together a disability insurance toolkit to help you get started.