The small business market can be especially lucrative for insurance agents, and guaranteed standard issue (GSI) disability insurance products can help you get your foot in the door. Business owners and their employees get access to the paycheck protection without the usual underwriting barriers, and you snag multiple commissions.
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Key Advantages of GSI

GSI disability insurance gives groups of employees access to disability insurance without the need for individual underwriting. Coverage is typically available to groups of five or more workers with the same employer, even if they hold different positions in the company.
  • No Medical Underwriting. Many workers have pre-existing medical conditions. With GSI coverage, health problems aren’t a barrier to coverage.
  • Portable Protection. Unlike group long-term disability insurance, GSI disability insurance is portable. This makes it attractive to workers who want coverage they will be able to keep wherever their career takes them.
  • Discounted Rates. GSI products often qualify for multi-life discounts, which make coverage more affordable. These discounts often take around 10% to 20% off the cost of coverage, and some discounts may be even higher.
  • Layered Coverage. Due to benefits caps, group long-term disability insurance may not provide adequate protection for high-income earners. Adding a layer of GSI disability is the smart and easy way to increase coverage.

How to Win Business Owner Clients by Offering GSI Products

Business owners need financially effective strategies to take care of their workers and retain top talent, and GSI products deliver. By helping business owners understand their options, you can demonstrate your value and get your foot in the door to offer other products, such as group benefits or business overhead expense insurance.
  • Employees can pay for GSI coverage on their own. Because of the streamlined underwriting process and potential for nice multi-life discounts, this can be an attractive option for workers.
  • Alternatively, employers can leverage the IRS Code 162 executive bonus plan to provide coverage for high-level employees. This is a tax-savvy way to give executive employees the paycheck protection they need. It can be offered alone or layered on top of a group long-term disability insurance policy for maximum coverage.

Overcoming Barriers to Paycheck Protection

Most workers depend on their paychecks, so they should have paycheck protection, but many workers risk their financial futures by going without coverage. GSI disability insurance can help you overcome two of the biggest barriers to coverage so you can get more employees covered.

Barrier #1: Fear of Underwriting
Some people just don’t want to deal with the hassle of medical underwriting. Many other people assume they won’t be approved because their medical history includes things like diabetes, heart disease or cancer. GSI disability insurance gives workers a way to bypass medical underwriting, making it easier to secure coverage.
Barrier #2: Price Objections
Individual disability insurance normally costs around 1% to 3% of a person’s income. It’s a good deal for the protection it provides, but many people balk at the cost. By providing GSI coverage with a multi-life discount, and by helping employers take advantage of tax incentives, you can make coverage more affordable and overcome price objections.

Good Candidates for GSI

You’ll find many great candidates for GSI disability insurance once you know where to look. The company only needs to have five employees who need coverage. This could be five executives, or it could be five employees in different roles, including administrative or support staff.
  • Medical Offices. Doctors, dentists and chiropractors are all good candidates. Nurses, assistants and receptionists can benefit from coverage, too.
  • Professional Firms. Lawyers, accountants and architects are good examples of candidates. Provide coverage for the partners or for everyone at the firm.
  • Any Other Small Businesses. When you start working with a client, ask about their employer to determine if it could be a good fit for a GSI disability insurance solution.

Make DIS Your GSI Partner

If you need help conquering the GSI market, turn to DIS. We offer:
  • Top Markets. We provide access to high-quality DIS markets so you can give your clients attractive options and close more sales.
  • The Executive Benefits Equalizer. High-earning executives are often underinsured. We provide resources to help you close the coverage gaps.
  • Smart White Collar/Blue Collar Differentiation. DIS can help you secure the right classifications for your clients, resulting in better rates and terms.
  • Complete Case Design and Enrollment Support. We’re by your side every step of the way to help you close more business.
  • Renewal Automation. We make it easy to handle renewals and ensure sufficient coverage, with tools that collect changes in employment and raises.
Here at DIS, we want everyone to have the paycheck protection they need, and we want to help you sell it. We’re your partner for GSI and other DI products, and we can help you leverage new markets. Contact us for assistance.
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