It’s hard to argue the value of a product that has paid out over $100M of benefits in a single year. And this is just the IDI claims from one carrier—Standard Insurance—which represents a small portion of the overall industry. This information does an excellent job of showing disabilities are not biased. They happen to people of all ages and occupations for a variety of reasons. Another important statistic to notice in this flyer is a third of the claims paid a partial benefit for all or part of the benefit period. The partial or residual benefit is a critical component in any DI contract.
When you discuss disability income protection with your clients, share this piece to show the need for DI. It paints the picture well:
- Regardless of the occupation, your clients’ need to protect their paychecks.
- A variety of sicknesses and accidents can lead to disability claim at any age.
- Choose a disability income plan that provides a partial or residual benefit that does not require a period of total disability before it will begin to pay a benefit.
- An individual disability policy is the best paycheck protection available. So even if your clients have a group LTD benefit through work, they should supplement it with an IDI policy to insure maximum protection.