Like many others in their 20s, I remember not being thrilled about the chunk of income that was taken every month by insurance. It always seemed like money that was going out and would never come back in and felt especially significant at a time when my income was low.Read More
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Now is a great time to buy a house. Homeownership is a dream for many, but it’s also a major financial investment – one that you need to protect. That’s why paycheck protection is especially important for homeowners.Read More
With a bit of customization, standard disability insurance provides sufficient income replacement protection for many professionals. Many business owners, manufacturers, retail, educators, even medical professionals have salary ranges within standard policy limits and compensation arrangements are relatively straight forward.Read More
At least 50 percent of business owners have never had an income protection conversation with their advisors. Most commercial lines agents don’t want to wade into unknown waters. Health insurance brokers are consumed with the ACA, and financial professionals tend to focus on other areas. The result is the client is exposed to business and personal risks that can be financially devastating despite products developed for this market.Read More
Topics: income protection
So, your client’s employee benefits package includes group disability coverage. Great. “What percentage of salary is covered?” you ask. The response is something like “I think 66 percent.” The client feels secure that in the event of a disability, expenses can be managed if two-thirds of the income will be replaced. For someone earning less than $100,000 that may be true, but anyone earning more than that, the reality may be look very different. The chart depicts the monthly group LTD benefit of a policy that replaces up to 66 percent of salary with a maximum benefit of $5,000, a common group benefit limitation. It also illustrates the considerable gap in protected salary for those earning more than $100,000.Read More
Are you bullish on your DI sales for the rest of the year? Key economic indicators along with insights from consumers forecast a favorable environment for income protection sales.Read More
Topics: income protection
Key people are employees who contribute a large percentage of an organization’s sales, growth, and consequently, income. But what if an unexpected injury or illness was to disable one of these key employees? Waiting for the employee to recover or finding a suitable replacement could take quite some time.
With tax season heading down the home stretch, there is no better time to schedule an income protection assessment with your clients. We recommend advisors perform this assessment annually, in a fashion similar to the wellness physical your client receives from their personal physician each year.Read More
Clients have different personalities, objectives, and goals. Their methods for making financial decisions vary and so do their communication styles. To some degree, your success depends on your ability to accurately identify a client’s financial personality; adjust your approach to fit; and deftly guide your clients through their blind spots. Easy, right?Read More
Super Bowl XLIX approaches with a dark cloud overhead that threatens the sanctity of our nation’s greatest sporting event. Every major news network over the weekend chose to lead with “DIflateGate” over other significant breaking news across the globe.