Wake up agents… this is a call to action to those that don’t believe that disability income insurance is THE most important insurance your clients should have! This call to action also goes to agents who may believe in the product, but have little to show for it.
Just think of what might happen if one of your clients who provides security to their family got disabled and could no longer provide the necessities (food, shelter and the money to pay the other insurance premiums, etc.) Do you not realize that disability is the biggest reason for home foreclosure? Do you want the government to take this product away from your portfolio? Do you want someone else to sell this needed coverage to your client and as a result, they will give your hard-earned business to your competition? Do you want to forsake a commission stream that is the most lucrative in the industry? Do you not want to sell the one product which, as financial planners say, is the cornerstone of all financial planning?
Curb your malaise immediately and contact your clients; but before so doing, either bone up on the product by contacting your GA, hook up with a mentor, or find someone who will guide you through the underwriting process. If you have been turned off by having submitted an application in the past and seeing it declined, 10.1 it was your fault for not knowing the underwriting rules beforehand. Knowledge is power and it is profitable!
Another great source is the DI society, who will be having its 6th annual meeting in Boston (October 2010) and by attending this premier DI event, you will gain the necessary knowledge to become an overnight expert and more than a return of your enrollment investment (for more information about the event, contact: www.internationaldisociety.com).
For those who don’t take this challenge, make sure your E/O is current, because it is possible your disabled client can sue you for not advising them that the coverage is both available and a necessity. Even if they have it at work, either it is probably not adequate, or desirable, because of definitions/caps etc.