Take a Stand for DI

Speak with your clients about premium funding before or during a life insurance sale.

A moving “Real Life Story” as published by LIFE relating the tale of a young man with a supportive wife and two teenage children, in his prime earning years, who had firsthand knowledge of the benefits of life insurance when his father passed at age 57. His father had left the family sufficient life insurance benefits to provide for him, his mother and his siblings. The young man too felt it was vitally important to secure life insurance protection for his own family.

Fortunately, the policy he purchased included an accelerated death benefit as this young man was later diagnosed with liver cancer. He neglected to acquire personal disability insurance so the life insurance accelerated death benefit was tapped after the first year of disability to help make ends meet. He succumbed two years after diagnosis.

He intended to leave his spouse $2 million, but the actual death benefit totaled $1.6 million because of the draw-down on the accelerated death benefit. The financial outcome proved to be sufficient in this case because the diagnosis was indeed terminal and he passed relatively quickly leaving less of a financial burden on his family. What if the condition had not met the requirements for accessing the accelerated death benefits? What if he had held on longer?

Do you really want to prescribe life insurance without also insuring the income that maintains a family’s budget, keeping in mind that retirement contributions end once a client becomes disabled? What about premium funding for all the other types of in force insurance?

Take a stand for your clients and their needs. The next time you have a potential life insurance sale, advise your client that you will sell the life insurance policy provided the client’s income is also protected. Take a stand for Disability Insurance.

Download pdf format here:   Take a Stand for DI.pdf

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