Great Article and Tactic for Disability

[Norwayguy]

It would seem to me that Contractors (electricians, plumbers, iron workers, Dangerous occupations, etc) would be key to target for this product.

No?

Why would someone who trims trees for a living...not get disability insurance?

Cost and it will never happen to them. They have to be sold on it and sold on it the same way they would buy DI while employed by making the premium tiny. I tell someone prices start at x per day and I get the x by taking the minimum amount the carrier will issued times class get the monthly premium and divide by 30 it get the question not should I buy Di but how much can I afford.

 

[Full Throttle]

Everyone complains that blue collar prospects do not buy disability, that has not been my experience. I sell way more blue collar than white collar. Wrote an app on the owner of a cleaning business today for $1400 annual premium. Wrote one earlier this week on an electirician for $1800 annual premium.

These premium amounts are not the norm, however, I have found the sweet spot to be $50/month and under. Typically that's a two year benefit in the 2A to 3A classes, sometimes five depending on the age. Average monthly benefit is $1,500 to $3,000.

DI is more of an attitude sale. I tell people that if you work because you need the money, you better have at least some disability. I then tell them the problem isn't wanting to coverage, the problem is the premium and getting something is better than nothing. Show a grid of the options and let them pick.

 

[VolAgent]

Everyone complains that blue collar prospects do not buy disability, that has not been my experience. I sell way more blue collar than white collar. Wrote an app on the owner of a cleaning business today for $1400 annual premium. Wrote one earlier this week on an electirician for $1800 annual premium.

These premium amounts are not the norm, however, I have found the sweet spot to be $50/month and under. Typically that's a two year benefit in the 2A to 3A classes, sometimes five depending on the age. Average monthly benefit is $1,500 to $3,000.

DI is more of an attitude sale. I tell people that if you work because you need the money, you better have at least some disability. I then tell them the problem isn't wanting to coverage, the problem is the premium and getting something is better than nothing. Show a grid of the options and let them pick.

Who said they don't buy it? Blue collar wants DI. DI underwriters don't want blue collar.

Yes, I know you can get blue collar can get DI, but the underwriting is even tougher than for white collar.

 

[Ron Van D]

Everyone complains that blue collar prospects do not buy disability, that has not been my experience. I sell way more blue collar than white collar. Wrote an app on the owner of a cleaning business today for $1400 annual premium. Wrote one earlier this week on an electirician for $1800 annual premium.

These premium amounts are not the norm, however, I have found the sweet spot to be $50/month and under. Typically that's a two year benefit in the 2A to 3A classes, sometimes five depending on the age. Average monthly benefit is $1,500 to $3,000.

DI is more of an attitude sale. I tell people that if you work because you need the money, you better have at least some disability. I then tell them the problem isn't wanting to coverage, the problem is the premium and getting something is better than nothing. Show a grid of the options and let them pick.

FT, what carrier do you use for these?

 

[Full Throttle]

Illinois Mutual mainly, Assurity on occasion. IM's online quote system is so easy to use and their customer service is first class in my opinion. My experience has not been the same with the other carrier, although they have a good blue collar DI product line.

 

[mickey2]

DI is not as hard of a sale as some producers make it out to be. Most producers don't know enough about the products to confidently sell the product. If you want to sell DI you need to work with an experienced DI broker. One who will help you with product knowledge and advise that help you place more cases. I am suprised by all of the negative posts about DI on this site from producers. I'm sure i will get some negative replys from this post but really don't understand why the producer's who have so many negative things to say about DI dont have the credentials or experience to have such strong opinions. All of you that take offense to this are the "experts" I'm refering to. LOL
Michael Sileo DIA, DHP, EHBA, HIA
Master General Agent
General Agent Center Inc

 

[ckeifer]

I would loveto know wgat I am doing wrong in the DI game..

 

[ltcadviser]

I'm sure i will get some negative replys from this post but really don't understand why the producer's who have so many negative things to say about DI dont have the credentials or experience to have such strong opinions. All of you that take offense to this are the "experts" I'm refering to. LOL
Michael Sileo DIA, DHP, EHBA, HIA
Master General Agent
General Agent Center Inc

I actually am always amused by insurance professionals that feel the need to have alphabet soup after their name. Please do not take offense.

 

[mickey2]

That's what I love about this forum the ones that know the least have the most to say. Ha ha ha Sorry that my advanced educational designations offend you.

 

[DHK]

I've never heard of your designations before. I've heard of CLU, ChFC, LUTCF, FLMI and many others.

What is a DIA, DHP, EHBA and HIA?