Several years ago I wrote a blog post on the differences in residual for individual disability insurance. In my given scenario one carrier would pay out over $25,000 more than the other! With so much disparity in the individual product benefits, I decided it would be...
There is a hard lesson to learn in disability which took me nearly 20 years to realize, but will take me only two minutes to share. People do not like to be sold, so they need to be led to a decision to buy. Consumers buy to gain a pleasure or avoid a pain, so they...
“Round up the usual suspects” is just one of many memorable lines from the classic movie Casablanca (celebrating its 75th anniversary). Developing target markets for disability insurance often starts with the usual suspects, such as physicians, dentists, and...
Historically, utilizing a multi-life sales strategy with three or more lives from the same business entity generated a premium discount off unisex rates from an array of individual disability insurance carriers. Unisex rates benefit female insured’s immensely as this...
With a bit of customization, standard disability insurance provides sufficient income replacement protection for many professionals. Many business owners, manufacturers, retail, educators, even medical professionals have salary ranges within standard policy limits and...
At least 50 percent of business owners have never had an income protection conversation with their advisors. Most commercial lines agents don’t want to wade into unknown waters. Health insurance brokers are consumed with the ACA, and financial professionals tend to...
So, your client’s employee benefits package includes group disability coverage. Great. “What percentage of salary is covered?” you ask. The response is something like “I think 66 percent.” The client feels secure that in the event of a disability, expenses can be...
You are probably well-versed in targeting professional markets for disability insurance, but did you know that commercial pilots also have very specific income replacement needs? According to the Bureau of Labor Statistics, the median income for a commercial pilot is...
Raise your hand if the goals for your practice include: • Increasing revenues • Presenting a broader range of products to clients • Selling more lines of business to clients As common as these goals may be, they are often elusive – perhaps because you don’t have the...
Carriers are adding attractive new features and optional riders to disability insurance plans. A few weeks ago, in The Triple-Threat to Millennials: Solved by Disability Insurance we outlined new features that addressed issues facing Millennials. Other disability...
