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 listen to your extended sales pitch. Nonetheless, if you think about it, you could actually use it to your advantage.
Burnout Rates
Time Magazine health reporter Alexandra Sifferlin writes about the problem of physician burnout in an article on July 21, 2014:
Some experts call physician burn out “inevitable,” given the high-pressure environment in which they must make potentially life-saving, and almost always life-altering, choices on a constant basis. Research shows that up to 40% of U.S. doctors experience emotional, physical, and psychological burnout from their jobs, and the consequences are no different for them than they are for people in other occupations — substance abuse and cutting corners.
[…] while doctors interact with people on a daily basis, their training and their worth as physicians are focused almost entirely on their technical capabilities, leaving them with few tools for understanding and navigating social interactions and for collaborating as part of a larger team or organization.
Long-Term Repercussion
Many experts suggest that constant work-related stress could lead to long-term health effects, increasing the chance of disability in later years. A physician’s career is rife with stress that constantly challenges his or her emotional and mental equilibrium. Add the labyrinth of social interactions physicians encounter everyday throughout their career, and you have a stress mine waiting to explode. Insurance brokers and financial professionals, like you, can point out the risks of a disability for physicians due to stress. In your meeting, note the difficulty you had finding time in their schedules to even schedule a meeting. Once you’ve laid the groundwork, and established the need to protect their paycheck from an unexpected injury or illness, you can introduce disability income insurance. Working with a disability income specialist at Source Brokerage, Inc. will insure you have access to the best disability income products available for physicians.
Peace of Mind
Disability income insurance can offer physicians the peace of mind.
Getting into the business of disability insurance for physicians may not be easy, but it can be extremely rewarding if you know how to pitch the sale to these workaholic potential clients. You can use the reasons above to present the benefits of a disability insurance to them.
(Source: Burnout in the Hospital: Why Doctors Are Set Up for Stress,Time Magazine)
