We all have a few “wish I would have” moments.
If I would have studied harder, I might have been an aerospace engineer.
If I would have known the market was crashing, I wouldn’t have bought my house at the peak.
If I would have realized the reward of selling disability insurance, I would have started selling it sooner.
Yes, for many senior brokers, disability insurance is a “wish I would have known” kind of topic, because it’s a product that enjoys very high renewal and persistency rates.
Do you routinely offer disability insurance to your clients? Whether, you are a DI broker, employee benefits broker or a PC broker, it’s smart to add disability insurance to your solution-kit.
Disability insurance is a natural sell, both as a stand-alone coverage and as a supplement to group long term disability policies. If you’re already talking to HR professionals and business owners about benefits, make sure your conversation includes income protection strategies. By offering DI in addition to your other lines, you can build client loyalty, stay competitive and become more profitable.
Below are a FIVE MORE REASONS you should start selling DI before it becomes the opportunity that got away:
- Income. Brokers who sell disability insurance enjoy generous commission rates, up to 70%. That means if you sell two “professional” cases each month at $4,500, your annual income could be $75,600 or $891,000 over a 10-year period. And with the highest renewal rate in the industry – between 5% and 15% – those commission dollars really add up.
- Declining Health Commissions. With healthcare reform, many employee benefit producers are facing commission cuts. Unless you’re prepared for a lifestyle adjustment, it’s a good idea to start augmenting your income stream!
- Easy Underwriting. Selling disability insurance is easier than it used to be with many guaranteed standard issue (GSI) and simplified underwriting options. In many cases, there’s no medical underwriting involved.
- Differentiation. By becoming a disability insurance expert, you can differentiate yourself from other brokers and establish yourself as a convenient one-stop resource.
- Support. Don’t believe the myth that disability insurance is too complicated. With our robust educational resources, automated quoting tools and comprehensive personal support, you’ll be comfortable with DI in no time at all!
Stop and think about that income point above. If you let the DI opportunity “get away,” you could be saying good-bye to $891,000 over a 10-year period. Plus you’ll have missed the opportunity to help your clients protect their most important asset – the paycheck.
Don’t wait another day. Download our free DI Broker Opportunity Kit and get on the fast track to the “so glad I figured this out now” feeling.
Along with DI, critical illness is a great product to add to your solution suite.