Brokers who ask their clients the right questions before they take an individual disability income application are more likely to have satisfied clients, because it allows you to set realistic expectations. When the client knows what to expect, it makes the underwriting process smoother for you, the underwriter, and the client. The medical and financial underwriting for disability income
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.
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: