Many companies do not have formal human resource (HR) divisions and those that do are often tasked with a myriad of responsibilities. HR divisions are either too busy or not prepared to provide any insights to employees as they make important benefit choices.
Enter financial and insurance advisors.
There is a real opportunity for fianancial and insurance advisors to help new and existing clients make informed benefit decisions. Just one well-informed decision can make a life difference for your clients.
For example, it’s a well-known statistic that professionals age 30-35 are more likely to become temporarily or permanently disabled than to die at a young age. Physical disability can immediately impact earnings.
Yet, employers often offer “free” life insurance but charge for basic short and long term disability insurance. Why? Insurance companies also know that working persons are more likely to become too injured or sick to work for a period of time than to die, so insurance companies charge more for disability insurance.
Nevertheless disability insurance is relatively inexpensive, especially for young employees and clients. It’s most important for your clients to protect their income, expecially if they are the main bread winner.
Disabilities can happen in a second–a small car accident injures your client’s back, a ski or spoting injury requires extensive rehab, or an ailment leads to long term and permanent work losses, impacting your client’s ability to earn an income.
Social security disability provides $1,300 a month and can take years to recieve. It is not adequate income protection for your professional clients. In fact, employer sponsored group disability plans may not offer enough coverage for professionals. It’s benefits are often capped, so your client’s paycheck protection is inadequate if their income is above the cap.
Individual disability income can supplement your clients group disability benefits. When you partner with Source Brokerage, Inc., we can help you tailor disability income solutions to fit the unique needs of your clients. We provide multiple quotes, walk you through each quote and the application process, and follow the application through underwriting until the policy is placed in force. We assist our brokers throughout the process so they have a much higher success rate placing policies in force.
It’s a Win-Win!
You do what you do best–advise your clients, and we do what we do best–disability insurance!