Trying to understand a disability insurance policy can be like trying to learn a foreign language. There are so many industry terms, and if you don’t know them, you could misinterpret key aspects of coverage. To help clear up any confusion, review the policy language glossary below.Read More
The DI and LTCI Blog - Your Source for Sales Tips and Advice
Do your clients know about all of the benefits that are found in their disability insurance policies? Probably not! An important part of selling DI and having your clients keep their valuable coverage inforce, is to make sure they know about all of the benefits the coverage provides! Many may have some knowledge of their benefit amount and their benefit duration but may not be aware of these “hidden” benefits. Make sure to highlight the following advantages:Read More
Topics: disability insurance policy
The catastrophic rider is an option with most disability insurance carriers, but many insurance producers are unsure of how it actually works. The intention of the rider is to pay out additional benefits in the event of a catastrophic type disability with the assumption that there are increased costs and additional expenses in that type of situation. Most have the requirement that the insured can no longer perform two of the five activities of daily living without assistance such as bathing, continence, dressing, eating, toileting and transferring. And it should be no surprise by now that each carrier has their very own spin on how this rider should work.
Note: This is our first article of a five-part series on Common Sense Plan Design for disability insurance. Make sure to subscribe to our blog in the top right corner of this screen so you receive subsequent articles as soon as they are published.
If you own a Swiss Army knife, you know it’s an all-in-one, get-everything-done contraption. It also has adapted over the years with changing times. Back during WWII, soldiers could use the tool to do everything from opening food tins to cleaning their weapons. Since then, the Swiss Army knife has changed with the times by adding new tools like a USB flash drive and MP3 player.
Waiver of premium is a feature that is commonly offered on individual DI policies. In fact, I would bet that most of us hardly give the feature a second look on a DI illustration. It’s just assumed that if the client is disabled, the premium payments will stop until the client is back to work, and any premiums sent in when the client was initially disabled will be refunded. But for such a simple policy feature, there are actually significant differences between carriers in how it works.
Disasters are often hard to predict, even when we do see them coming. Hurricanes, floods, earthquakes and fires tend to strike suddenly and behave erratically – and as everyone knows, by the time a disaster strikes, it’s a little late to start preparing.
It’s already March and I am just now beginning to think about my New Year’s resolution of going to the gym more often. My motivation? Seeing how regular workouts truly changed my friend’s life.
I’m a lucky person. Like, genuinely, ridiculously lucky. And I don’t mean I’m lucky in the way people use it when saying they have a great family, good health, and a great job (not that I don’t have those things). I mean I’m lucky in the if-there’s-a-raffle-I’m-probably-going-to-win-it kind of way.