Why did you choose disability?

Oct 3, 2018

  1. Rob Lion
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    I have no desire to sell disability insurance, but i'm curious about it since it's not one of the major "niches" of insurance trending right now.
    Why do some of you sell disability over the other kinds of insurance?
    How well does it pay?
    What's your work schedule like?
     
  2. Tahoe Ray
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    It's terrible...don't do it.
     
  3. Rob Lion
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    Why is it terrible though haha.
     
  4. Tahoe Ray
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    I'm kidding...most of my personal production is DI.

    I sell DI because it is necessary and largely not marketed.

    It is a specialized market that requires some expertise and policy design which I enjoy.

    Upfront is low compared to life (street being about 50-60 unless you have good production) but renewals are normally double digits for 10 years.

    My schedule won't be relevant since I do other things...

    I work about 55 hours per week in total.
     
  5. Rob Lion
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    Who do you market to? just high salary individuals?
     
  6. Tahoe Ray
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    Anyone without DI. Everyone should have something...
     
  7. DHK
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    Just know your product inside and out. Not all disability policies are created equally.

    When I was with Combined Insurance, our DI was absolutely terrible. If you earned between $20,000 to $70,000 per year working for someone else... you would "qualify" for a $500 monthly benefit... that was STILL coordinated (reduced) with Social Security benefits! Absolutely horrible. Not appropriate if you were working for someone else. (Obviously it was 'better' for those who were self-employed.)
     
    DHK, Oct 4, 2018
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  8. Rearden
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    I did an interview with Larry Schneider on selling disability insurance. Seems like a great business with little competition.

     
    Rearden, Oct 4, 2018
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  9. The DI Doctor
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    Disability Insurance is often avoided due to unfamiliarity, and the fear of investing time away from avenues which are known to be profitable. The result I often see is that insurance agents ask for disability insurance solutions only when consumers approach them about it. Many consumers ask for disability insurance only after a concern has arisen. Some are up front, and some hide the medical concern. This results in agents getting a rather bad experience with income protection. My suggestion is do not wait for consumers to ask about it. If the Council for Disability Awareness is correct in saying that over 50% of foreclosures are caused by disability, we have the right to let all of our clients know about it. If the Social Security Administration is correct in saying more than 1 in 4 will suffer disability before retirement age, we can not keep quiet about it. Just thinking that more than 25% of the people I speak with could suffer disability without income protection should be more than enough incentive to tell people about it as often as I can. How you feel about it concerning your clients is up to you.
     
  10. Markthebroker
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    Are you thinking about going into DI now? Dude, you shift gears more than Dale Earnhart Jr.
     
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