Do your clients have disability insurance? If not they have plenty of company. Only 26 percent of Americans have disability insurance, LIMRA reports; never mind that over 70 percent of households are depending on two incomes to make ends meet.
Boomers aren’t likely to go looking for disability insurance – only 1 percent of consumers started shopping for coverage on their own – and just 18 percent of consumers say they have ever been approached about the product, according to the report. The number one reason cited for not buying was cost.