Selling Disability Insurance: Why and How
A person’s paycheck is often their most valuable asset. Unfortunately, many people are forced out of the workforce early due to illness and injury. Disability insurance is an important source protection against this risk. Also called Di, income protection and paycheck protection, this insurance product provides a payout to replace part of the insured’s income if they can’t earn an income because of a disabling condition.
Life at DIS
At DIS, you’ll team up with the best and brightest in the industry. We offer our employees an inspiring and supportive environment. We trust and respect each other allowing creativity to flow and ideas to flourish.
First, brokers can earn an excellent commission, which can be as high as 70%. Disability insurance sales are especially lucrative because the high renewal rate means that you can keep earning after you’ve sealed the deal, and with the Future Purchase Option rider, it’s even possible to earn a first-year commission on previous sales.
Important Disability Income Insurance Coverage for Your Clients
Selling disability insurance can also benefit your clients.
When people buy a house, have a child, or dream of retirement, they often forget to factor in how the high odds of disability can derail their plans. The CDC says that 61 million adults in the United States have a disability, and the Social Security
Administration (SSA) says that one in four 20-year-olds will experience disability before reaching retirement age.
The SSA also warns that the agenoys disability requirements are very strict, meaning that many people don’t qualify for benefits, and that the disability payments are modest. In other words, if people are assuming that they could rely on disability benefits if anything were to happen, they might be making a big mistake.
Disability insurance provides important income protection. If the policyholder can’t work because of an injury or iliness, DI payments can help them stay afloat, keep their homes, and focus on their health, Some employers provide long-term disability insurance benefits, but your clients may still be interested in supplementing coverage with an individual disability insurance policy, which can provide higher benefit amounts and portable coverage.
Protect Your Career
There’s another reason to sell DI. Doing so may help you protect your insurance career.
Your clients count on your for insurance advice. If you don’t offer disability insurance and one of your clients experiences a disability that prevents them from working, you could be blamed for failing to offer coverage. You might even run the risk of
being hit with an errors and omission lawsuit. By offering disability insurance, you’re giving your clients access to important coverage while protecting your own reputation.
What to Expect from DIS
When you partner with DIS, you get access to top carriers, fast quotes and the sales tools and support you need to succeed. These differences can make a big difference in your bottom line. In the disability insurance industry as a whole, only about 10% of quoted DI policies are placed in force. DIS agents place 25% of quoted policies in force.
Its simple. With DIS, you can sell more and earn more.
The Tools You Need
Expanding into a new insurance product can be intimidating, but it doesn’t have to be difficult. We offer an effective sales script, a quote engine, worksheets, client handouts, videos, training and more.
These resources accomplish two goals. First, you can educate your clients without having to create material on your own. This saves you time so you can focus your energy elsewhere. Second, you get access to proven techniques, increasing the chance of success.
How to Get Started
DIS works with both new insurance agents who are just getting started and established insurance professionals who want to expand into DI or streamline their sales process. We also work with agencies and IMOs. If you want to sell Di, we want to be