Everyone Must Immediately Stop Selling Disability Insurance

[Mr_Ed]

I know it's hard to deal with. I know you love disability insurance and you believe in disability insurance. But, you must stop selling it immediately.

There were well over 200+ insurance companies that sold disability insurance in the late 80's/early 90's. Now, there are only about six companies that sell about 95% of the d.i. policies.

Therefore, disability insurance must be a total scam. Run from it. Stop selling it. It's not viable. It can't work. No one should ever buy it. And you must stop selling it.

nadm

(remove tongue from cheek)

 

[somarco]

Most of the carriers offering LTD in that time frame were not on the hook for the risk. They laid off the liability to Union Mutual (now Unum).

Once Union Mutual realized they screwed up they exited the reinsurance side causing the collapse of the pass through writers.

 

[TriciaS]

I know it's hard to deal with. I know you love disability insurance and you believe in disability insurance. But, you must stop selling it immediately.

There were well over 200+ insurance companies that sold disability insurance in the late 80's/early 90's. Now, there are only about six companies that sell about 95% of the d.i. policies.

Therefore, disability insurance must be a total scam. Run from it. Stop selling it. It's not viable. It can't work. No one should ever buy it. And you must stop selling it.

nadm

(remove tongue from cheek)

And people think I am sarcastic! Good point.

 

[lifeinsure]

Back in "the day," the carriers had no idea how to underwrite the risk. The remaining survivors all seem to be doing a good job, as their books of business all seem to be profitable.

If you're not selling disability insurance, you're leaving money on the table. It's a need that should be addressed with your clients.

 

[0b1kanobee]

Now, there are only about six companies that sell about 95% of the d.i. policies.

Can anyone name them?

 

[scagnt83]

Can anyone name them?

Unum, Union Central, Guardian, Illinois Mutual, Principle, Assurity probably have the largest market shares.

Mass & Standard have large blocks too.

ON's DI hasnt been around all that long, but its a great product and gaining ground.