The Future Envisioned: Making It Happen

Do your clients have clear visions of their future?

While many may have a vague sense of what they want, things to accomplish, or relationships they hope to develop, very few can actually articulate what they think their life will look like five or more years down the road.

As an advisor, it’s important to not only help your clients plan for the future they desire, but to also help protect it. And the best place to start is by protecting their income.

Income, when viewed over an entire career, is likely to be your clients’ single biggest asset. It is the source of funding today, tomorrow, and every day thereafter.

Income will pay for a lifetime of purchases, both large and small; it will fund the monthly cost of a mortgage, make up a portion of savings, and eventually support a comfortable retirement.

What if your client were to become disabled?

A 35-year old with an annual salary of $50,000 with 3% raise each year who experiences a permanent disability may lose up to $2,625,138 in potential earnings by age 67. Without a plan in place to protect that potential, your client is exposed to an enormous amount of risk. (

How can you get the conversation started?

Start by asking your clients what would happen if they got sick or hurt and suddenly didn’t have the ability to earn their income.

  • How long could they last before their lifestyle would be disrupted?
  • If they have a family, how would they be affected?
  • Would they need to dip into personal savings or other assets to cover expenses?
  • What would be sacrificed to keep their life intact while they recover?

Your clients’ incomes fuel the engines that drives them into the future.

Without it, their ability to fund the futures they envision and that you helped to plan is in jeopardy. Now is the time to talk to your clients about income protection – there are affordable plans available to protect a most valuable asset.

Contact your DI Sales Specialist to discuss the income protection opportunity and the availability of plans to meet your clients’ needs.

Income Protection Helps Shine Light On The Importance Of Disability Income

Could you afford your home without your income?

For some people, “income protection” is a phrase that strongly resonates with their everyday lives.

Consider This
  • 71% of American employees live paycheck to paycheck.
  • 62% of all personal bankruptcies filed in the U.S. in 2007 were due to an inability to pay for medical expenses.
  • In the last 10 minutes, 490 Americans became disabled and cannot perform their job duties for at least 90 days due to an illness or injury.
The Income Protection Sales Approach

Below are script ideas to get you started selling Individual Disability Income (DI) insurance using the income protection sales approach:

  • Why do you go to work every day?  What if you couldn’t?
  • What would your life be like if you couldn’t earn a paycheck because of an unexpected illness or injury?
  • How would you pay for the big things in life like housing, groceries, utilities, etc.?  And what about the little things like date nights, kids’ dance lessons, vacations?
  • Protect your paycheck with Individual Disability Income (DI) Insurance.  If you become too sick or hurt to work, it provides monthly benefits to help you maintain your lifestyle.

Get started approaching clients today.  Use this printed approach presentation.

Contact your Disability Income Specialist today for more information and marketing materials.

Income Protection For Business Owners And Their Employees

Employers today are constantly struggling to find new ways to attract, motivate and retain the best and brightest employees without having to pay them overly inflated wages.  One way to accomplish this is by offering a competitive employee benefits package.

In a recent study by one of our strategic carrier providers, 61% of employees surveyed said a strong employee benefit package encouraged them to work harder and perform better; 61% said such a package gave them increased incentive to stay with their current employer.

Whether the business has as few as two employees or 100, the ability to incorporate an affordable Individual Disability Income plan into the company’s overall benefit package can be an absolute game changer!

43% of employees surveyed reported that their ability to protect their financial assets due to an unexpected event is of paramount concern.

The Solution

We can provide you with customized Multi-Life and Group Disability Income plans with varying levels of underwriting and discounts depending on the needs of your business owner.

Based on the number of employees and the underwriting program selected, a 20-30% discount and unisex rate classes can potentially increase your client’s savings.

From start to finish, the process is streamlined for both you and your client.  Whether you need assistance with marketing material, quotes, policy review or worksite enrollment, we and our carrier partners are positioned to support you throughout the entire sales process.

Contact your dedicated Disability Specialist today to learn more about how you can help your business owners better retain their employees by offering a more competitive benefits package.

Are You Including Disability Coverage In Your Client’s Buy-Sell Planning?

When most producers and their clients think about Buy-Sell Planning for their business, they consider Life Insurance as the only vehicle needed in order to provide a source of funding for the buy-out of an owner.

It’s true that Life Insurance will provide for sufficient funding of a business continuation plan if the insured owner dies while the policy is in-force, but what happens if the partner doesn’t pass away and instead, they become injured or sick to the point where they are no longer capable of working in their normal capacity?

If you have used Disability Buy-Sell Insurance coverage as a companion to Life Insurance planning then your clients will be prepared for exactly this situation.

Including a Disability Income Policy in a Buy-Sell Arrangement Can Serve Two Main Purposes

It provides a source of funds to their business for the purchase of a disabled owner’s interest in a business while also providing compensation to a disabled owner for his or her equity in the business.

We can provide you with fact finders, valuation questionnaires and approach letters to help you to either review an existing Buy-Sell arrangement or to help you plan for the implementation of a new business continuation plan.

Once you have discussed and assessed the company’s need for including DI inside of their Buy-Sell arrangement, you can use it as a spring board to then promote Key Person Disability coverage, as well as personal DI coverage for any employees.

Success Story

Recently, we were contacted by a producer looking to secure a basic Term Life policy on a business owner.  In discussing the need for the coverage, we brought up the concept of including Disability Income inside of the Business Continuation Plan.

The result was an individual DI policy for the owner and we are now working on providing plans for all of the Key Executives.  Prior to this case, the producer had never sold a DI policy with us.

Getting Started

If you have written Buy-Sell Insurance Policies in the past but did not include any Disability Income Protection, it is never too late to reach out to your clients and offer them a complimentary policy review to ensure that the planning is still sufficient for their business.

While reviewing the Life Insurance inside of the plan, you can discuss the need to have DI policies including in the Continuation Planning.

Helping to protect your client’s business interests in the event of an untimely injury, sickness or death will further solidify your role as their primary insurance professional and will likely lead to additional sales opportunities within the business and referrals for new client opportunities elsewhere.

Call us today for help in starting the review process or for ways to enter the business insurance marketplace.

Business Overhead Expense Is The Door Opener To DI Sales

The unasked question to small business owners is, What would happen to your business if you were to get sick or hurt and couldn’t work for a lengthy period of time?

Most small business owners could not get away for a long weekend, let alone several months.  Many would likely have to close the business until they recover and then asses if the business could be revived or if there is any business left to sell.

Business Overhead Expense (BOE) can help business owners protect their business and employees if the owner needs time to recover from a serious illness or injury.

If a small business owner suffers a disability and is unable to work, it not only affects the business, it impacts all of the employees as well.

Many small businesses are tight-knit families who rely on each other for support. If the business is unable to produce because of the missing owner, the employees may have to start looking for new opportunities.

The BOE Answer

The need is simple to set up: Many small businesses cannot survive without consistent production, and the owner is the primary producer. (Dentist, CPA, Attorney, Physician) What happens to the business when something happens to the owner?

The answer: Business Overhead Expense (BOE) Insurance.

A BOE plan helps to keep the business in operation in the event the owner becomes disabled and couldn’t work for a period of time.  BOE reimburses the business for all their fixed operating expenses in order to keep the doors open while the owner recovers from an injury or illness.

This assures there will be a business to come back to once recovered.  If a major illness or accident prevents the owner from coming back to work, there will still be a business to sell that has not depreciated because of the owners absence.

Also, BOE allows for tax deductible premiums when insuring for the potential disability of the self-employed person.  Often, small business owners are candidates for short-term and/or long-term DI as well.

Speak with your business owner clients today to see how you can help them protect the most important asset they have, their business.  Please contact your Disability Income Marketing Manager to start planning your client’s BOE plan today!