Marketing Disability By Direct Mail

[Vegas Guy]

I would like to get a discussion going about marketing disability insurance by direct mail to the wife of middle to upper class families. The letter we created makes the assumption there is life insurance place, but speaks of the financial loss that can occur from not having disability coverage.

I have little experience with disability and I wonder why this is not pursed more often? Is the coverage too expensive or commissions too low? What are your guys thoughts …

 

[redsquash]

Keep us posted, how did it work for you.

I tried this in the past, without any success. But it might work, I'm considering giving it another try.

who are you targetting?

 

[BNTRS]

How much money are you looking to spend on this?

I'll send you my name and address and you can just send me the check, I won't sell any DI for you, or make you any money for that matter. The end result will be identical, but at least I'll like you more this way.

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It's not done because DI is a tough product to market by itself. I used to do it, some what successfully, but I wasn't targeting middle class America, I was going after dentists, it worked ok for a while (I had activity) but I sort of ran out of people to talk to, and dentists have taken it pretty rough with the disappearance of disposable income.

Disability underwriting is 10 times stiffer than life underwriting. Personal experience is about 9 times out of 10 the actual offer is different from what I've applied for (ranging from underwriting doesn't agree with my assessment of the Occ class to a flat out decline). Most of the time it's an exclusion rider that I see coming, and no matter how up front I am it tends to create a 2 hour (or so) discussion about why the client should still have the coverage.

There's one way to be a large DI producer successfully, it involves buying a lot of residents, interns, and med students etc. lunch about once a week and talking to them about financial topics.

 

[b61mack]

you have to go after groups.

 

[arnguy]

I believe you want to target wives (pl.) but do you mean working wives or stay at home spouses? There was only one company that would would cover the stay at home spouses that I can think of at the moment. That was Illinois Mutual; however, I do not believe they still offer that coverage. You might do well to post in the www.disabilityinsuranceforums.com website where you will get responses from agents who specialize in DI.

 

[Sales71]

DI is good for md, attorneys etc. You should go after high earners not house wives.

 

[Norwayguy]

DI is good for md, attorneys etc. You should go after high earners not house wives.

To Clarify your post...DI would be a benefit for most people earning an income in case they got sick or hurt and couldn't work...But outside of Group DI at work it is most easily sold to High Income earners such as Drs, Attorneys etc.

 

[Frank Stastny]

When I first read this post I thought what a great idea. He is targeting wives thinking that if they are aware of the potential problem then they would encourage their husbands to look into it further.

Now it sounds like his intent is to sell them a disability policy. That sounds like a really though sale.

Which one is it?

 

[bobson]

I would think it would be easier to market critical illness coverage this way. Who doesn't know a breadwinner that has suffered a critical illness?

 

[Mark]

I sell more C.I. than D.I.

Just a lot easier and also as a rider than a stand alone.