In these hard economic times, nothing can throw your client’s life out of balance like a disability, even one that is short term. In addition to being physically challenged, not being able to earn a paycheck can impact your client’s life for years to come.
In today’s financial circumstances, people are realizing the importance of protecting their income if they were to become disabled.
Unfortunately, not everyone can qualify for disability protection. Sometimes a past or ongoing medical condition such as cancer, diabetes or a heart attack prevents coverage.
A great alternative is nonstandard Disability Income Insurance.
- It provides coverage to those who may have been denied a standard policy
- The policy has a graded benefit during the first few years which allows substandard carriers to approve most risks applied for
- The more serious conditions that a standard carrier will not consider issuing, even with policy modifications, can be approved in the nonstandard market
A nonstandard application typically consists of a completed application form, an APS and verification of the applicant’s income. Whereas most standard carriers require applicants to undergo medical examinations and personal interviews which takes more time for the applicant and agent.
Now is the perfect time to reach out to current and prospective clients who feel they may not qualify for DI coverage. Inform them of their options and explain how a nonstandard policy may better suit their needs.
To learn more about nonstandard DI and how to approach your clients, contact your CPS Disability Income Specialist today.