Thinking About Sellling DI

devoe

New Member
16
Hi,
I have been thinking about selling individual disability insurance for some time now. I have looked at a few companies. I just have a few questions about getting started. First of all when you want to write an app on a client, is the application usually like 15 pages long? One company I was looking at going with their application for a the client was really long so I was wondering is this typical with every company? I would like to go with a company that has a app much shorter than that. If there is a company with a simplified application process for the client would be great.

Also what are usually the commission rates for selling DI? I know some companies pay higher rates than others, but what is the average rate. Also are commission typical paid out month- to month? Any comments would be appreciated. Thanks
 
Hi,
I have been thinking about selling individual disability insurance for some time now. I have looked at a few companies. I just have a few questions about getting started. First of all when you want to write an app on a client, is the application usually like 15 pages long? One company I was looking at going with their application for a the client was really long so I was wondering is this typical with every company? I would like to go with a company that has a app much shorter than that. If there is a company with a simplified application process for the client would be great.

Also what are usually the commission rates for selling DI? I know some companies pay higher rates than others, but what is the average rate. Also are commission typical paid out month- to month? Any comments would be appreciated. Thanks

What is your primary line of business right now?
 
I was selling some life insurance but I have been out of the insurance field for a little bit. I'm looking to get back in the game
 
15 pages is about the norm for DI. There are longer apps and there are shorter apps. Guardian is about 25 or 30 pages I think.

The last thing you want to do is judge a DI policy on the length of the app. You need to judge it by the definitions of disability, the renewablity/cancelablity, the features, the UW class available to the client & the price for that class. There is not one single carrier that will be the best fit for all clients. They all have their sweet spots.

Assurity and Mutual of Omaha might be the most "well rounded" DI carriers. Ameritas, Guardian, Met, & Principle are usually the best for white collar occupation classes.
Assurity has a teleapp that cuts the paperwork down to about 7 or 8 pages.

As Empty suggested, DIS is a good IMO that can help you learn the product and place cases.
 
DRG is another good IMO for DI. They are a bit closer to you as well. Why are you looking at selling DI?
 
Assurity also does e-apps for their products - including a "disconnect" mode, so you can do e-apps on your computer without internet.

Assurity also accepts Visa/MC for premium payments on all their policies (not including annuities)... but you have to have an internet connection to accept it at the time of application.
 
Assurity is definitely a go to DI carrier in the Blue to Grey collar markets. I would stear clear of their "simplified DI" product. You can get the client a better value going for their Century + product. Just make sure to prep the client that they may need to get tax documents to provide to the company, especially if you are dealing with a self-employed person.
 
I think Assurity is great for the Middle income market.

If you're working with higher income and specialized professions, I'd be looking more at Guardian and others that have higher limits and more advantageous definitions.
 
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