A potential issue with your professional and executive clients is the likelihood that their income protection plans are totally dependent on group LTD plans offered through their employer. The problem is LTD plans do not provide comprehensive income protection that most professionals and executives need.
GSI plans offer tremendous flexibility. They can be designed as employer-pay-all or a voluntary offering. GSI will fill in the gaps that the LTD plan does not cover, protecting income that some LTD plans do not cover such as bonuses and commissions or providing higher levels of coverage for employees whose incomes exceed the group cap. By layering additional individual disability income on a guaranteed issue basis on top of the LTD plan, your professional and executive clients income protection plans will provide the income protection your clients need.
With plans available for as few as five employees, opportunities to sell GSI abound. With no medical underwriting, and limited financial underwriting (census) your clients and their employers will appreciate the ease of implementing a GSI income protection plan.
Guaranteed Standard Issue income protection plans are way to set yourself apart and grow your individual disability income business.Your DI specialist at Source Brokerage has the expertise to review LTD plans, and help you design and implement a GSI plan.