We are entering the most critical part of the year—the fourth quarter. This is where the finish line is in sight. The work you put in now will define how we close the year and set the stage for next year’s success. You can not only surpass your fourth quarter sales goals targeting individual disability income sales, but you can also boost your commission income for years to come.

Ideal Prospects

When looking for the best individual disability insurance (DI) prospects, several key factors help identify the most suitable candidates. The ideal prospects typically have certain characteristics, including:

1. High Earning Professionals
   – Doctors, Surgeons, and Dentists: Medical professionals rely heavily on their physical and cognitive abilities to perform their jobs, making them ideal candidates for DI. A disability could dramatically reduce their income potential.
   – Attorneys: Legal professionals with high incomes also benefit from DI, as any injury that affects cognitive or communication skills could impede their ability to practice.
   – Financial Advisors and Accountants: These professionals may not face high physical risks, but their incomes depend on their ability to process and analyze complex information, which could be impaired by certain disabilities.
2. Self-Employed Individuals and Entrepreneurs
   -Small Business Owners: Those who run their own businesses rely solely on their personal productivity for income. A disability could lead to substantial financial losses or even force them to shut down their businesses.
   – Freelancers and Contractors: Without employer-sponsored disability insurance, self-employed individuals often need their own coverage to protect against the loss of income due to injury or illness.
3. Young Professionals
   – Rising Income Potential: Young professionals early in their careers often see disability insurance as a valuable investment in protecting their future earning potential. Premiums tend to be lower when bought at a younger age.
   – Limited Emergency Savings: Many young professionals don’t have substantial emergency savings yet, making them more vulnerable to income loss from an unexpected disability.
4. People with Significant Financial Obligations
   – Parents or Primary Breadwinners: Individuals with dependents who rely on their income are ideal candidates, as a disability could jeopardize their ability to support their families.
   – Homeowners with Mortgages: Those with significant debt, like a mortgage or student loans, are strong candidates for disability insurance to ensure their ability to continue meeting payments in case of a disability.

These groups tend to have a strong need for disability insurance to protect their financial well-being in case they cannot work due to illness or injury.

Best Ages to Target

The best ages to target for individual disability income (DI) insurance generally fall between 25 and 50 years old, with some nuances based on different life and career stages. Here’s a breakdown of key age groups and why they are ideal candidates:

1. 25-35 Years Old: Young Professionals
   -Low Premiums: DI insurance premiums are lower when the policy is purchased at a younger age. Since younger individuals are statistically less likely to become disabled, insurers can offer more favorable rates.
   – Career Growth: Young professionals ha ve significant future earning potential. Protecting their ability to earn over the long term is critical. They may also be accumulating debt (student loans, mortgages, etc.) and need income protection to ensure they can continue meeting their obligations if they become disabled.
   – Healthier Applicants: Younger individuals are generally healthier, making it easier for them to qualify for policies without exclusions or premium surcharges due to pre-existing conditions.
2. 35-45 Years Old: Mid-Career Professionals
   – Income Peak: People in their mid-30s to mid-40s often reach their peak earning years. At this stage, they are likely to have higher incomes that need protecting in case of disability.
   – Increased Responsibilities: Many individuals in this age group have significant financial commitments, such as mortgages, education costs for children, and retirement savings. Disability insurance helps protect their ability to maintain these commitments.
   – Career Stability: This group tends to have more stable careers and can afford higher premiums, making them ideal prospects for comprehensive coverage.
3. 45-50 Years Old: Established Professionals
   – Peak Earnings with Increased Risk: By the late 40s, professionals may still be earning at high levels but are also more prone to health issues and injuries. This makes DI insurance crucial to maintain their financial security as health risks increase.
   – Retirement Concerns: People in this age group may also be focused on building their retirement funds. Disability insurance can ensure that, even in the event of a disability, they can continue saving for retirement.
4. Younger than 25
   – Students and Early Career: While generally not a primary target, some younger individuals, such as medical residents or those in professional degree programs (law, finance, etc.), may benefit from early DI coverage. Most disability income providers offer policies to protect future earnings once these individuals enter their fields.

While 25-50 is generally the ideal age range, the younger side of this spectrum tends to benefit the most from lower premiums, better health qualifications, and longer-term income protection.

Opening the Conversation

When selling individual disability income (DI) insurance, prospects often respond to messages that address their personal concerns and highlight the value of protecting their income.

Here are key messaging strategies that typically resonate with DI insurance prospects:

1. Income Protection

• Message: “Your ability to earn an income is your most valuable asset. What would happen if an illness or injury prevents you from working?”
• Why it works: This message speaks directly to the fear of losing income, which most people find to be a high-stakes scenario. It emphasizes the need to safeguard what they rely on most—income.

2. Personalized Scenarios

• Message: “1 in 4 people experience a disability that prevents them from working for 90 days or more at some point before they retire. How would you manage your bills without a paycheck?”
• Why it works: Using relatable statistics helps prospects visualize themselves in such a situation. This message makes the risk real and personal.

3. Real-Life Examples

• Message: “Meet Sarah, who thought she’d never need disability insurance. After an unexpected accident, her coverage provided a lifeline. Could you afford to live without your income?”
• Why it works: Storytelling and real-life examples help prospects emotionally connect to the need for DI insurance, making it more relatable.

4. Lifestyle Preservation

• Message: “Disability insurance helps ensure that you can maintain your current lifestyle, even if you’re unable to work due to illness or injury.”
• Why it works: Most prospects are concerned about how they’ll maintain their quality of life if they lose their income. This message appeals to those looking for financial stability.

5. Financial Responsibility

• Message: “You have insurance for your car, home, and health—shouldn’t you also protect your income? It’s your financial foundation.”
• Why it works: Positioning DI insurance as a critical part of their overall financial plan makes it easier for prospects to see the importance of adding it to their coverage portfolio.

6. Long-Term Security

• Message: “A disability that lasts for a few years or longer can severely impact your retirement savings. Disability income insurance can prevent that.”
• Why it works: For people planning for retirement, this message highlights the importance of protecting long-term financial goals by ensuring income continuity in case of a prolonged disability.

7. Affordability and Customization

• Message: “Disability income insurance is more affordable than you think, and you can customize coverage to fit your needs and budget.”
• Why it works: Some prospects may be hesitant because they assume DI insurance is expensive. This message alleviates cost concerns and emphasizes flexibility.

8. Tax-Free Benefits

• Message: “If you pay for the policy yourself, the benefits you receive are tax-free.”
• Why it works: This message appeals to the financially savvy, highlighting a significant advantage that can make DI insurance even more attractive.

9. Employer Coverage Isn’t Enough

• Message: “Many employer plans only cover a portion of your salary. Do you know if your employer’s plan will be enough for you?”
• Why it works: This helps address the misconception that employer-sponsored disability insurance offers sufficient protection, encouraging prospects to consider additional coverage.

10. Peace of Mind

• Message: “Disability income insurance gives you the peace of mind to focus on recovery, knowing your income is protected.”
• Why it works: Many people are looking for emotional reassurance, and this message speaks to the emotional comfort of having financial security during challenging times.

These messages focus on tapping into the concerns, values, and potential fears of prospects while offering clear benefits that relate to their financial well-being and security.

Partner with Source Brokerage

Disability income not your area of expertise? No worries! Our disability income specialists can help you develop a disability income plan for your client as well as and assist with the presentation and sale.

Get started now: contact Steve Crowe at ext. 222or request a quote.