Striking It Rich with Disability Sales
The title of this piece hopefully got your attention, but it’s not a come-on. To be fair, it’s difficult, and sometimes seems downright impossible to make a fortune doing anything in this world – including playing the lottery let alone selling insurance. You work hard, and you are used to the daily grind, making a comfortable, maybe even a great living, but you don’t think you’ll ever be rich. I’m here to ask you not to sell yourself short.
There are advisors that I work with, real men and real women making millions of dollars a year just by selling disability insurance programs. They may dabble in life insurance, annuities or long-term care, but their main source of income is DI sales. You can be one of them. You don’t have to be the world’s best salesperson, but you must be resourceful, creative and driven.
The key to the path to DI riches is Guaranteed-Issue Excess Disability Insurance – a multi-life, supplemental disability program developed by Petersen International Underwriters to bridge the gap between the employee benefits market and the high-limit disability market. The product provides specialty-specific, own-occupation disability income insurance with large benefit limits on a guaranteed-issue basis for groups large and small. This program has been around for years and continues to be hugely successful, but many pockets of the market remain underexplored.
Being a real player in the GSI market and taking that first step can be daunting. To begin making your dreams come true you must access your greatest marketing asset – your existing book of business. The names found in your client files are the clues to unlocking the multi-life magic of Petersen’s GSI programs. Think of your current clients and prospects as a network of “door openers” to companies that need more disability insurance for their executives and partners (we have found that most American businesses are in need of excess DI in some form). The most important step is getting in the door, putting your idea in front of someone that can make decisions or influence those that do.
Petersen International can help walk you through making the pitch and provide you with the necessary marketing materials, but you need to make the introduction and to ultimately acquire a census of eligible employees/employers. We will help with the rest.
Other than the huge potential commissions, you will most notably be able to instill in the client that the program you’re providing will financially protect their employees, partners and colleagues to a higher level than any other available group disability option. A properly designed and executed GSI disability plan will allow the corporate entity significant group discounts, saving the company money year after year and making you their go-to broker for the future.