Getting Rich

Getting Rich by investing:
Author Harry Domash of MSN Money says it is simple. Save money, regularly, use the power of compound interest, use dollar cost averaging, don’t panic in the event of downturns in the market and stay the course. That part is simple. It is the discipline required to save, to invest regularly and to stay the course that is difficult. New habits must be adopted.

Getting Rich selling disability insurance:

Last week two of us attended the 13th annual JHA Dynamics of Disability Conference at Marco Island Florida. This event is attended by 350-400 integral executives in the disability insurance field. Almost to a person the primary concern was, “DI sales are flat. Our industry needs more education.” We agree, but the needed concept of education is likely to be very different between the fine executives at the conference and what we perceive to be the things
on which purveyors need enlightenment.

The first lesson in looking at disability insurance as a way of getting rich is to realize others have done it and many are doing it. It is a huge market. There are over70 million income earners in America and only 31 companies offer individual disability income insurance. That means 2,258,000 people are prospects per company. These are the same people, in general, to whom you sell life insurance or other products.


Getting Rich by employing the disciplines recommended by financial services people:

As a purveyor of disability insurance, the cause of selling disability insurance is a basic fundamental duty. If it is profitable, then purveyors have a cause and reason to adhere to the discipline of selling DI, regularly and to stay the course.

One average sized DI case per week will generate $100,000 in annual premiums. This production will produce $1,000,000 of premiums in force in just ten years. At 10% renewal, this $1,000,000 will throw off$100,000 per year in renewal commission income. This is not just fantasy: Such numbers are common with many purveyors in the industry.

Getting Rich by solving peoples needs that are not commonly available.

For many years, Petersen International has completed the forms for producers to gather their credits for qualification, by production volume, to the Million Dollar Round Table. We conducted some research to find out how important our products are to producers for MDRT qualification and for their profits. We found 57 producers who could have qualified for MDRT membership based on his/her PIU production alone. 20 could have qualified for the Court of the Table level and 10 could have made TOP-OF-THE TABLE.

2006 Million Dollar Round Table Qualifications
(New Premiums)
Qualifier: $139,200 – 57 PIU producers did this.
Court of the Table: $417,600 – 20 PIU producers did this.
Top of the Table: $835,200 – 10 PIU producers did this.

This is a sober and an exciting message for all producers. These results are not because a few producers happened upon several large cases. The results are because producers, alert to the signs of opportunity, move to solve people’s needs. Many different occupations are in this mix. It is likely many of these are in the WANT category as well as the NEED category, such as:

  • The highly educated Petroleum Engineer who spends time on the off-shore oil rigs wants disability insurance.
  • The Contractor who is going to Iraq to make his fortune wants disability insurance.
  • The Fortune 500 executive who cannot be adequately covered by his/her firms group LTD. He/she wants more coverage as do his/her associates so they can enjoy being covered with an adequate program.
  • The TOP HAT easy issue plan or a supplemental group High Limit Disability Plan fits the wants of these people and requires little extra effort.

Many Surgeons, Dentists, Attorneys and Consultants want more disability coverage. The Athlete, the Newscaster, Singers and Musicians all want adequate amounts of disability coverage.

Our High Limit Disability Insurance series is perfectly designed to fit business uses; Buy/Sell, Key Person, Venture Capital, Severance Agreements, Compensation Agreements, Business Overhead and Loan/Lease.

This research bolsters the slogan – “Niches to Riches.”


Getting Rich by recognizing trends in business:
Venture Capital Investment Up 10% Over Q3 and At Highest Levels Since the and Tech Bust in 2000

As early stage funding starts to become more fashionable, investors are starting to consider investments in younger and riskier companies. While biotech, medical devices, and software continue to get the bulk of the funding, Venture Capital has identified the wireless technology and alternative energy sectors as two industries that are starting to see increased VC investment.


Getting Rich by using the 65% solution on every DI Case:

The U.S. Department of Labor Statistics makes a clear case for proposing. Supplemental High Limit Disability on every Individual or Group Disability plan. Many income earners need supplemental coverage to deliver 65% of earned income when disabled. This statistic proves what is needed to financially “stay even.”

Providing supplemental disability is easy, fast and profitable. Little extra work and time is involved with the underwriting process called TOP HAT. Just provide a copy of an application and a policy declaration page from a non-can disability policy issued within the past three months as underwriting documents for the supplemental policy.

Two sales for the work of one and two commissions instead of one.

Getting Richer:

Now channel the extra commission income earned from these business efforts to an investment plan and get even richer!

News from the International DI Society

Negotiations with outstanding speakers to appear at the Annual Conference, October 22, 23 and 24 at the Grand Hyatt, Lake Las Vegas are turning very positive. Announcements will soon be released.

The Society’s new Educational Program is being developed with the American College. Course moderators will soon be invited for training and action this fall. The new Mentoring Program will be introduced. Mentors and Protégés will be recruited as the Society moves to attract more people to enter the dynamic business opportunities in the sale and service of disability insurance.

Three great golf courses, tennis, boating, swimming, dancing, and entertainment await attendees. Many people are planning to stay extra days before or after the conference. According to the Grand Hyatt, because of robust reservation activity, early reservations are a good idea.

To register for the conference and to make reservations go online to:

International DI Society