Although many brokers feel confident selling their core products–life insurance, retirement plans, health insurance or long term care—they do not feel confident about marketing individual disability income (IDI) products to their clients. However, if you are in the business of selling insurance, you can easily sell IDI to your clients too using some of these tips.
The key is to develop a good opening statement to transition the conversation to individual disability income. Here are some good transition statements you might use:
Healthcare: “This health insurance policy will pay your physician, hospital, and pharmacy bills. But if you are too sick or injured to work, who will make sure you still have an income to support your living expenses? Let’s talk about income protection.
Life Insurance: “Your life insurance policy will provide for your family in the event of your untimely death. If you are too sick or injured to work, who take care of you family then?”Let’s talk about income protection.
Financial plan: “Before we part today, let’s discuss a plan to make sure your income will continue even if you are too sick or injured to work. This financial plan rests on your ability to continue to make an income. Let’s talk about income protection.”
Long Term Care: “It’s likely the need for long term care will not arise until late in life. But what if you become sick or injured during your working years, and you are not able to earn an income. How would you maintain our current standard of living? Let’s talk about income protection.”
Whatever your core expertise, you meet clients everyday who need IDI. If you are not a confident IDI expert, work with the disability specialists at Source Brokerage, Inc. We can provide quotes, plan design, and underwriting, and you can concentrate on selling the need.
Any client who works for a living between the ages of 18-50 is a prospect. And since there is not a lot of competition in the disability income marketplace, you’ll find lots of opportunity.