Disability insurers go after younger prospects

Standard will be appealing to consumers who want to work and expect to earn more in the future with a rehabilitation benefit and an option that will give holders the option of increasing coverage levels by buying more coverage in the future.

Another carrier, Massachusetts Mutual Life Insurance Company, says it is trying to accommodate “those with entry-level salaries” with a pricing system designed in such a way that premiums will increase gradually each year until the insured reaches age 50.

The company also is offering holders an option to buy permanent life insurance over time without undergoing medical tests.

Like Standard, MassMutual is offering policyholders the option of expand their coverage to fit a rising income by buying additional coverage.

See also:

• Talkin’ ‘Bout My Generation: How Top Producers Effectively Serve Different Age Groups
• Building a Disability Insurance Practice: One Producer’s View
• Guardian Unit Updates Student DI Program