What it is
A multi-life disability insurance discount is available whenever you have a group of three or more people insured on a policy. The discount can significantly reduce the price per policy, which is why we say “three lives are sometimes cheaper than one!” This is a great option for small doctor and dental firms. For example, the “group” can provide insurance for the doctor, the nurse and the office manager.
What to say
When providing an individual disability insurance plan for a business owner, always ask if there are other people in the firm who could benefit from insurance, and offer to run a multi-life disability insurance quote so your prospect can compare the two options. When clients see the potential savings, they often prefer the multi-life option. If there are five lives to insure, guaranteed standard issue insurance is also an option. If the client wants to make disability insurance available to the team, but does not want to pay the premium, offer a voluntary disability insurance option.