Now is the Time to Sell Disability Insurance
A sense of looming uncertainty brought on by the Affordable Care Act has, of lately, been palpable among insurance agents, as the frustrations of consumers are aired on national television daily. Domestic life insurance sales have plateaued in recent months and the annuity and long term care markets seem to have stalled completely. The implementation of Obamacare, the general long term downturn in the U.S. economy and other grievous factors have contributed to the current fragility of life and health insurance markets nationwide. May we suggest that now is the time to explore the DI market. Now is the time to sell disability insurance.
In the grand scheme of things, every employed person needs disability income insurance just as every employed person needs medical insurance, life insurance, auto insurance and air to breathe. But many consumers are not aware of the dire need for disability insurance. Most Americans own health insurance, acknowledging that over their lifetime, during their career, they may become sick or injured and be required to pay for medical services. But most of those same Americans don’t take the measures necessary in protecting income during those periods of sickness or injury. This doesn’t make sense. There is a definite disconnect between insurance consumers and their financial advisors.
Income protection in sufficient amounts is the key and safeguard to a stable personal financial portfolio, and it’s your duty as an insurance professional to relay that message to your clients during these precarious economic times. We must inform our clients of the financial catastrophe that a long term disability can create and the reality that such a situation can happen. It happens to millions of Americans every year. Now is the time to sell disability insurance.
Market trends and industry statistics clearly indicate that this is the most client-favorable disability insurance market present in years. Among traditional, domestic DI carriers, benefit issue and participation limits have never been higher and we are seeing more companies venture into the senior-aged disability sector. Within our own high-limit and excess disability income market as well as the substandard risk market, rates have never been more competitive and benefits more comprehensive. Petersen International Underwriters is now able to provide excess disability income benefits to age 65 on preferred risks and monthly benefits up to 10 years on substandard risks.
From a consumer’s viewpoint, the DI market has never been softer, more accessible and more attractive. Don’t wait. Get in on DI sales now. There has never been a better time to provide your clients with better products while putting more commission in your own pocket.