Like an annual physical, an annual review of your clients’ income protection insures they maintain good financial health and address any gaps in coverage. Tax time is an excellent time to schedule a review because clients have their most up-to-date incomes available. When you meet with your clients, consider these income protection discussion topics:
Individual Disability Analysis Review their current coverage. Do they have an Future Increase Option or Automatic Increase they can exercise? Once you verify the income, request an FPO illustration from your disability income specialist at Source Brokerage Inc.
Group LTD Analysis Let us help you review your clients’ Group LTD benefits. Obtain the Group Certificate or the benefit handbook and send to us. We will review and send you an analysis of the plan. Clients are often unaware of the coverage gaps in their group LTD plans. It’s an opportunity for you to advise them and suggest IDI options to cover the gaps.
Retirement Savings Clients who have the maximum individual disability coverage, may want to consider Retirement Protection Savings. When clients are disabled, it’s difficult to continue retirement savings. With their paychecks protected, now is the time to address the retirement savings. Request a retirement savings quote from your disability income specialist at Source Brokerage and open a discussion about retirement savings protection with your client.
Committing to an annual income protection review with your clients, not only insures they have maximum coverage, but also you have increased DI sales.