Where to Start / what to Consider Getting into DI?

Discussion in 'Disability Insurance Forum' started by Ksutton, May 15, 2016.

  1. Ksutton
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    Ksutton Well-Known Member

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    First of all , I'd like to thank everyone for taking the time to read this. Also, I'd like to, in advanced, thank all of those who will reply with some advice/ knowledge .

    I am thinking about getting into DI. Plain and simple .... I am thinking about adding to my knowledge of products and growing my clientele base/book.

    I've been licensed in life for about a year and a half now and so far I have been doing ok. I am in PA

    I'm currently an FE agent. I have been working FE for about 6 months .... It's a tough pace, but ,fortunately, I've been successful in this business. I want to start to transition into a different market and I'm trying to educate myself on where that would be . For some reason, I am interested in learning about DI... At least I think I am :) hence this post.

    Do you have any suggestions on where to start ?

    I'm not too sure what the startup cost for a DI business would be . In fact, I'm not familiar with any of the start up procedures for a DI business....I.E : leads ? Carriers? Licensing? Etc.... I would love any feedback / advice.

    I have a couple of main "requirements".


    I want to help people.
    I want to work/ build long term professional relationships and build a referral network .

    I would like to have a mentor in the business.



    I don't necessarily want to quit FE as I am helping many people and feeding my family, but I'd like to find a market that is not so ..... Well , how do I say, "final expense like"? ..... I'm really open to any suggestions .


    Thanks again.
     
  2. thomasm
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    thomasm Well-Known Member

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    If you already have an Assurity contract, look into the Acciflex product.

    I cut my teeth on that product before moving into the senior market. I went around approaching the self employed blue collar trades. Easy entry level sale.

    Upsell them to the simplified issue DI, or fully underwritten if you can. Critical Illness would compliment this market as well.
     
  3. Glen Shelton
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    Glen Shelton Well-Known Member

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    Wouldn't it make more sense to look at other products you could offer the senior market you are already involved with and building a book of business in?

    Med Supp, Med Adv, LTC/STC, HHC, PDP...
     
  4. goillini52
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    goillini52 Well-Known Member

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    What's the matter Ken are you getting tired of cat piss, bugs and crap covered floors?:twitchy: That's how you say it.


    I 2nd what Fortune said. You can still cross sell FE off of Med Supps, but you'll have a more pleasant clientele to deal with.:yes:
     
  5. Ksutton
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    Ksutton Well-Known Member

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    Lol - I'll continue my FE business , as it is successful . I'd just like to explore another option ... I guess i have a "thing" for learning .

    I ,personally, have had a couple of accidents where I had a need for DI . So have some of my close friends . It's a product I believe in .

    ----------

    Thanks ... Will do!
     
  6. glgamerica
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    glgamerica Well-Known Member

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    I started in the individual life market in the 90s and ran into a guy who introduced me to worksite marketing. 20 years later that's what I do.

    The advantage to worksite is that you have many prospects to work with instead of having to work with one prospect at a time.

    Specifically, I offer guaranteed issue whole life insurance to groups of 100 employees or more. I bring guaranteed issue to the table and that's what employees need.

    Here's an article I wrote about why employees buy permanent life insurance at work if you care to read it.

    6 Reasons Employees Enroll in Permanent Life Insurance

    I know a guy that broke into this market using DI but personally, life is a better way in, in IMO.

    You said you are looking for a mentor in your post. Let me if you have any interest. Happy to help you out.
     
  7. TPetersen
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    TPetersen Well-Known Member

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    Hello KSutton,

    Welcome to the DI world. So how do you get into the DI markets? How did you get into the FE world? You probably started with talking with someone (a mentor or business partner of some sort). The same is true here.

    Compared to life carriers, rarely will you find a lead system. A dose of confidence is also critical as most people see some need for life insurance but few see a need for disability insurance (until the need it). Support, communication and education are your best tools.

    I would contact one or more local DI brokerage outlets and chat with them. They may be able to assist you with learning, some may even offer to assist with sales.

    The clientele are different from FE as a DI client needs to be working (usually, but not always), creating an income (or a future potential income) and sometime age and occupation play a role. These are often more carrier to carrier issues and thus unless you specialize in a specific market, you will need the resources from multiple carriers (which is why a DI Brokerage outlet may be a good source). There are also some carriers who are willing to bring you in and train as a captive agent. This is also a good option to consider.

    A mentor is an excellent option as well.

    You may be able to start with your own clients! While many I am guessing are retired, they may have children, neighbors, current or former business colleagues that they could refer you.

    You may want to look into the International DI Society (International DI Society) and maybe even attend the Fall meeting to meet many producers, carriers, brokerage folks, and attend the numerous educational programs.

    Bottom line is it takes time to build, but it can be very rewarding (personally and financially).

    All the best!
     
  8. goillini52
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    goillini52 Well-Known Member

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  9. danerlavigne
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    danerlavigne Active Member

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    Foresters has a product called Prepared similar to Assurity's Acciflex product
     

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