It’s easy to get spooked by the tricks, and never get the treats. Here are some DI tricks you can turn into treats for your clients and yourself:
Trick #1: My area of expertise is investments, NOT disability insurance. The scary thing is if your clients cannot work for a period of time, they will not be able to save money to invest and may have to withdraw their investments to meet their financial obligations.
Treat #1: Source Brokerage, Inc., can help you every step of the way, including underwriting pre-screens, illustrations, explaining the details of the contract to you and the client, if that is your preference, and getting the application through underwriting. You gain a commission stream from the DI insurance policies you place in force.
Trick #2: My client said he has group DI insurance through his employer, so he’s covered. Your client may be looking in a funhouse mirror, so he is not seeing the true picture. Group LTD plans do not provide comprehensive coverage. Many group LTD plans only cover the client for two or less years in his own occupation. The maximum benefit is capped, so high earning clients are capped out at level significantly lower than their current salaries. If they are employer-paid plans, the disability benefit is taxable.
Treat #2: This is an opportunity to turn a sour apple into a taffy apple. Ask to review the client’s group LTD plan. You’ll be spooked to learn most people never look at the details of their group LTD plans, so they do not know that they are not adequately covered with this plan. You have an opportunity to educate your clients about the value of individual DI and the gaps in group LTD plans, helping them view you as their trusted advisor. Your clients can plug the group disability gap by layering individual DI on top of the group disability plan. Your clients gain adequate paycheck protection and peace of mind, and you gain happy clients and a commission stream from the DI insurance policies you place in force.
Trick #3: Disability income is too difficult to underwrite, so I will not bother to present it to my clients.
Treat #3: The DI specialists at Source Brokerage, Inc will do all the heavy lifting, including making DI presentations to your clients. Your clients have income protection, and you gain a commission stream from your clients’ DI insurance policies.
You may see a lot of ghosts and goblins when you think about disability income, but working with a DI specialist at Source Brokerage, Inc., can help you scare them away, and you and your clients will get the treats—peace of mind for your clients and an increased commission stream from DI sales for you.