It can be very challenging to get clients and prospects to apply for disability insurance. In my experience, the longer the decision process, the less likely the prospect or client will be inclined to buy. They start thinking about it too much, or get distracted with other decisions they have to make. Because of this, it is important to motivate your clients or prospects to move right away while they are thinking about the puchase.

Here are some steps you can use to quickly move them to action:

  1. Inform them about the underwriting process. Let them know this can take some time. Say something like: “Mr. Client, this process will take a few weeks to process. During that period of time, the company will decide if they will be able to offer you coverage. While they are processing the application, it will give you time to decide if you are going to pursue a policy.”
  2. Use a personal story to explain the risks of waiting. “Mrs. Client, last year I had a client procrastinate on purchasing a policy. During that period of time, he was diagnosed with a tumor and was no longer insurable. Had he pursued the policy initially, he and his family would have had the coverage to help them. Now, not only do they not have the coverage they need, but they are uninsurable and will not be able to obtain the benefits.”
  3. Try to make the decision easy. “Since you are uncertain if you would like to take all of the proposed riders and the amount of benefit, I would recommend applying for the maximum amount of benefit for which you qualify, and the proposed riders. During the application process, you may modify the policy. It is much easier to take riders off of the policy and reduce benefits than to add riders at a later time.”
  4. Make the process as simple as possible. Help your clients complete the application and try to set realistic expectations. If you leave the application for them to complete on their own, they may become overwhelmed at the amount of paperwork and decide against pursuing an application.

Jamie K. Fleischner is president of Set for Life Insurance, an independent disability insurance brokerage specializing in helping physicians, dentists, and professionals. For more information, visit www.setforlifeinsurance.com.

For more exclusive DI coverage, visit ASJ’s Disability Insurance Resource Center.

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