Blue Collar DI Which Company

[shooter]

Doesn't seem to be much action in the Disability forum.

But as I prepare for a new year, I would like some input
from people that have more experience on the matter.

Assurity, or Illinois Mutual?

Which has the better product line and
would be easier to work with.
Thanks,
Shooter

 

[NewbieNewbie]

Depends entirely on what they do for a living. I will say if you try to make a living selling DI to blue collar workers you are not going to make much of a living.

 

[Tahoe Ray]

Doesn't seem to be much action in the Disability forum.

But as I prepare for a new year, I would like some input
from people that have more experience on the matter.

Assurity, or Illinois Mutual?

Which has the better product line and
would be easier to work with.
Thanks,
Shooter

No reason not to have both. I write more IM than Assurity but Assurity's graded plan is a must-have for substandard health ratings.

 

[Tahoe Ray]

Depends entirely on what they do for a living. I will say if you try to make a living selling DI to blue collar workers you are not going to make much of a living.

I agree but "blue collar" doesn't mean that they don't make money. I'd be willing to bet that most owner/operators, plumbers, and salon owners make more than the average insurance agent.

 

[scagnt83]

I agree but "blue collar" doesn't mean that they don't make money. I'd be willing to bet that most owner/operators, plumbers, and salon owners make more than the average insurance agent.

Most welders make more than the AVERAGE insurance agent... lol

 

[scagnt83]

Most specialized contractors are making bank right now. Easily making $90k+ a year in my area if they run their own operation. Heck, my mechanic is clearing $100k a year.

Blue collar does not mean broke. Many are making more than office workers.

 

[scagnt83]

If you want to put the client with the best option. You should probably have both. DI is all about the UW in relation to both Occ class and health.

 

[NewbieNewbie]

I agree but "blue collar" doesn't mean that they don't make money. I'd be willing to bet that most owner/operators, plumbers, and salon owners make more than the average insurance agent.

I agree but doesn't the physical nature of a lot of blue collar jobs make UW more difficult. Not a di guy, but I would think a welder would be far more likely to have a claim than say an insurance agent or accountant. Is my thinking correct here?

 

[Tahoe Ray]

I agree but doesn't the physical nature of a lot of blue collar jobs make UW more difficult. Not a di guy, but I would think a welder would be far more likely to have a claim than say an insurance agent or accountant. Is my thinking correct here?

They pay more because of that risk. Underwriting isn't more difficult per se, it is just priced differently.

 

[scagnt83]

I agree but doesn't the physical nature of a lot of blue collar jobs make UW more difficult. Not a di guy, but I would think a welder would be far more likely to have a claim than say an insurance agent or accountant. Is my thinking correct here?

If you only use 1 DI carrier, UW will ALWAYS be difficult with certain clients, regardless of the occupation. That is because each carrier treats each occupation differently.

You have to get specific. "Blue collar" is not specific. Welder, is specific.

Assurity might not take welders.... but IM does. Or vice versa. Or maybe one rates them a worse occ rating than the other.... so they would pay more than necessary.

Some carriers will only take certain blue collar occupations if they are a business owner. Others will take that occupation if they are an employee.

It varies wildly, even among blue/grey/white collar categories.

---

When you get a DI prospect, get their specific job title. Then look that title up in the Occupation list for multiple carriers. Compare and see who offers the best Occ Class.... or who accepts it at all if its high risk.

If you are applying everyone with just a single carrier, you are guaranteed to get declines. Also set yourself up for replacements by other agents on down the road because of better Occ classes that save the client money.