As insurance producers, we have a skewed view of the importance of insurance. We see firsthand what happens to families and businesses when they are – and aren’t – properly insured. To us, the importance of proper disability insurance coverage seems obvious. People have so much to lose if they become sick or injured and cannot work. Why, then, is it so difficult to convey this point to others? And why do so many people fail to protect their income?
The statistics are staggering: People are much more likely to file a disability claim than a claim for just about any other type of risk. And the potential loss is greater than any other assets that people hold. Yet people still object to or overlook the importance of properly protecting their income.
As an insurance producer, it is important to convey this message to other professionals who work with our clients. Sometimes, if our clients are advised to protect themselves from a non-insurance professional, they are more likely to pursue it.