Considering the varying nature of work for young professionals, such as engineers, lawyers, and white-collar managers, now could be an ideal opportunity to speak to them about the importance of protecting their income with disability insurance (DI).
Meet Ben, a hypothetical client:
- 30-year-old male engineer, but could be another young white-collar professional
- Single
- $120,000 salary
- Some college debt
- Little retirement savings
Here’s three different insurance options:
Option 1:
- Total Maximum Monthly Disability Benefit $6,000
- Extended partial disability benefit
- Cost of Living Adjustment
- Catastrophic Disability Benefit
- Future Insurability Option
- To age 65 benefit period, 90 day waiting period
- Approximate monthly premium $140
Option 2:
- Total Maximum Monthly Disability Benefit $6,000
- Extended partial disability benefit
- Automatic benefit increase rider (no additional premium)
- To age 65, 90 day waiting period
- Approximate monthly premium $87
Option 3:
- Total Disability Benefit $3,000
- Extended partial disability benefit
- Catastrophic Disability Benefit
- Future Insurability Option
- 5-year benefit period, 90 day waiting period
- Approximate monthly premium $40
Solutions:
- Options 1 or 2 can help Kevin protect his income with total and partial disability benefits to age 65.
- Option 3 may be more affordable option to help Kevin protect his income with half of the maximum monthly benefit for 5 years.
- Option 1 offers tailored coverage with Extended Partial Disability, Catastrophic Disability Benefit, Future Increase Option and Cost of Living Adjustment riders
- Annual premiums are less than 2 percent of his salary
We’re here to help.
Now that you understand who to talk to about disability insurance (DI), let Source Brokerage, Inc. help you take the next step and start the conversation. We help you tailor DI plans to fit the financial and professional profiles of your client.
Questions about how to approach clients about DI or how to reach out to new prospects?
Contact Steve Crowe at ext. 222 or request a quote.
