Replacement Opportunities - DI

[VolAgent]

John: Freakin' hilarious...I get your point ! NOBODY supplements a large portion of their income specializing in this DI and LTC....Show me the person that does and I will show you a freak of nature. So keep crossselling for a living like the health carriers want you to. Maybe the DI DR. is one of those four?

I think I would rather play in a freeway with razorblades than going out seeking to replace DI policies, or replace LTC for that matter. What a nightmare career even doing any volume of it.

The specialists are busy working at the medical schools, writing them as students and residents. The replacements happen when the new partner, who was once a resident, introduces their DI guy to everyone after someone gets hurt and the policy doesn't pay.

 

[HealthGuy]

What a career selling to a bunch of dicky doctors.

 

[VolAgent]

I don't prospect doctors, but from everyone who does, most are a complete a**. I guess they are willing to put it with it for the money. That, or they are viewed as such an expert, the docs shut up and listen.

 

[Full Throttle]

Are you freakin' kidding me, who makes even a fraction of a living replacing or even writing a lot of DI? Who in the hell makes a living specializing in writing DI?

I can tell you with absolute certainty they are out there. At my old firm, one of the guys was a disability specialist. His goal was simple, write at least $100,000 in new DI premium each year and cross sell some life insurance (he actually sold a fair amount of it). At his levels, he was easily getting 60% FYC and 15% trails. His target market was mainly lawyers, but he wrote others as well. I know of at least four other guys locally who specialize in DI and make a good living. I'm sure there are a lot more as the pool of producers I know in the area is relatively small.

This was an article I remembered from a while back, I don't know anyone personally doing it at this level, but it shows it can be done:

A Word to the Wise: Specialize - Life Insurance - Life Insurance Selling

I know none of us on this board work this hard:

His methodology is another proof of the axiom that activity drives sales. In a typical week, he has 30 to 50 appointments, including at least 15 with brand-new prospects. "Our first goal is to have a minimum of six and a maximum of 10 appointments every day, each spaced about an hour apart," he says. Some are what he calls "opening" appointments, usually 10-15 minutes over the phone to establish credibility and rapport with the prospect. Then there are the "writing" appointments, typically no longer than one hour, in which Irwin gathers the facts, proposes a coverage program, and takes the application. He also does all policy deliveries himself and uses them to reinforce the sale.

 

[The DI Doctor]

You have my email address if you, or anyone out there, would like an answer to your last question. I could not be more serious when I say that we only focus on DI and this has been our busiest year.

 

[NMFNMDRT]

I've met with maybe 500-600 individuals in the last 5 years and maybe 10 had existing individual disability insurance. Not many people have their own coverage.

There aren't many people in my organization who specialize in writing lots of DI. The top people in my agency are around the $100k of premium mark. The top guy in the company is at $350k. The people that write a lot of premium are mostly dealing with physicians, attorneys, and high net worth business owners. If you're not selling much of the $5k-$15k monthly benefit, then don't plan on making a career out of it.

 

[arnguy]

Are you freakin' kidding me, who makes even a fraction of a living replacing or even writing a lot of DI? Who in the hell makes a living specializing in writing DI?

I dunno, but there must be some. Check out www.disabilityinsuranceforums. There seems to be quite a few on there.

 

[bobson]

DI should be the first policy for anyone that works because they need the paycheck.

 

[bill3173]

Don't see how you could replace DI policies, unless they have crappy defs, and better ones not offered by the current carrier. Med Professionals are about the only ones that actually purchase DI, so you'd have to hit them pretty hard. Just put everybody but Docs and dentists out of your head, or you'll run screaming for the nearest exit.

On the bright side, they do add to their current DI, as income grows. In fact I have one doc that calls me every year to add a little to his coverage. I have a Dentist that is currently collecting off of 3 separate DI policies. He'll never practice again. When junk like that happens, you make friend for life out of your clients.