Most of us have uttered this request at some point in our lives. With the focus on America’s unhealthy dietary habits, the phrase now carries a bit of a stigma. We would like to put a positive spin on this expression in relation to the ordering of Disability Insurance illustrations.
When a Producer orders an illustration showing the maximum benefit based on the client’s income from his favorite Brokerage, more often than not that Brokerage will turn to it’s favorite traditional carrier and simply order an individual non-cancelable policy quote. Doing so often leads to a great disservice to the client, especially those that are high income earners.
The maximum benefit is 65-75% of income replacement. At $150,000 of annual income, most non-can carriers limit their benefit to about 50-55% of income replacement, and the greater the income respectively, the less the amount of replacement that is possible. This discrepancy could lead to gross underinsurance.
Petersen International Underwriters’ High Limit Disability Plan can offer a supplemental side of coverage to fill the client’s financial plan left unfulfilled by a traditional non-can policy. So the next time you need to order a disability illustration, remember to say, “Supersize that proposal with a supplemental disability plan from Petersen International Underwriters!”