The DI and LTCI Blog - Your Source for Sales Tips and Advice

Why Income Protection Is NOT the Icing on the Cake

Posted by The DIS Sales Team on Wed, Jul 10, 2019 @ 09:07 AM

Have you ever heard someone say that income protection is the icing on the cake? This implies that disability insurance is a product to be enjoyed once other basic financial steps have been taken. However, this thinking is flawed. In reality, income protection is NOT the icing on the cake. Rather, it is the cake plate. It is the foundation that makes all other financial progress possible.

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Topics: disability insurance, income protection

Why Waiting to Buy Income Protection Can Cost You Big Time

Posted by Leslie Schultz on Mon, Aug 20, 2018 @ 08:08 AM

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.

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Topics: income protection, buy income protection

Hot Housing Market Triggers Greater Need for Income Protection

Posted by The DIS Sales Team on Tue, Jul 3, 2018 @ 09:07 AM

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.

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Topics: income protection, housing market

4 Prospects that Require Specialized Income Protection

Posted by The DIS Sales Team on Mon, Nov 27, 2017 @ 09:11 AM

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.

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Topics: income protection, specialized income protection

3 Reasons to Talk to Business Owners about Income Protection

Posted by Andrew Gilmore on Mon, Nov 20, 2017 @ 09:11 AM

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.

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Topics: income protection

Solve the Income Protection Gap for High Earning Clients

Posted by The DIS Sales Team on Thu, Nov 9, 2017 @ 09:11 AM

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.

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Topics: income protection, guaranteed standard issue disability insurance, high earning clients

It’s a Great Time to Work in the Income Protection Market

Posted by The DIS Sales Team on Wed, Sep 27, 2017 @ 08:09 AM

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.

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Topics: income protection

Do Your Business Clients Need Key Person Disability Insurance?

Posted by Dan Steenerson on Fri, Apr 14, 2017 @ 14:04 PM

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.

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Topics: income protection, business overhead expense, key man disability insurance, key person insurance, key person disability insurance

Discussion Topics for Income Protection Assessments

Posted by Tom Helbing on Tue, Mar 22, 2016 @ 08:03 AM

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.

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Topics: income protection, income protection assessments

Want to Sell More Income Protection? Try Financial Personality Profiling.

Posted by Andrew Gilmore on Wed, Mar 9, 2016 @ 08:03 AM

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?

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Topics: income protection, Personality Profiling