I was on a call with a broker a few weeks back and he explained to me he had a huge book of business, but not enough disability insurance knowledge to go through and sort the book into viable prospects for individual disability insurance. I told him not to worry, as his problem is more common than most people think. Have you ever had that issue? If so, look no further. While ultimately, all working people may be good disability insurance prospects, there are a few people in your book whose needs are most urgent, and who are most likely to buy.
Below is the ultimate cherry picking guide, in just three simple steps.
- First, sort your list by who has a six figure income or higher. Some of the brokers like to use $75,000 as their magic cut off number, but $100,000+ is a sure-fire range. People with higher incomes are less likely to have disability insurance cost objections.
- Next, make sure these people are mostly healthy. We can always place cases with ratings or exclusions, but it’s much easier if they haven’t had any serious medical issues. Diabetes, back pain, anxiety/depression are all sellable cases, but that is not the focus of today. Today is about making sure your clients have the income protection they need with the least amount of stress for you.
- Finally, sort your list by occupation. You want to focus on the attorneys, physicians, executives, architects, engineers, vets, CPAs, and office-based scientists. Basically, think of anything involving suits or medical coats. These professionals all get great occupation classes further lowering the cost of their policy. Business owners are their own beast because their occupation classes vary tremendously by industry.
You have the clients and the relationships already in place. Use your annual review as a great time to make sure Mr. and Ms. Client have the appropriate levels of coverage for all lines. He has worked incredibly hard to get where he is today. She loves the life she is living now. It’s time to make sure that regardless of what happens, those lifestyles will continue.
To serve the easiest prospects first, sort your client list and talk with the people mentioned above. Once you’ve cherry-picked the clients who are most likely to buy, then move onto everyone else in your book who could also benefit from a paycheck protection conversation.
Click here to request a disability insurance quote online. We promise to get you numbers within 24 hours. As one of my favorite people once told me, selling life may pay the mortgage, but selling disability insurance funds retirement.
Don’t have time to personally reach out to these people? Introduce them to the DI Concierge. We’ll do the legwork, and you can deliver the extra service your clients need while still earning a nice commission.
