Follow these 4 SIMPLE STEPS to unlock the gaps in your clients disability protection plan.
Step 1: DISCOVER Clients Financial Concerns
Simply asking lots of questions can help bring awareness to Disability Insurance and the use of these products as a tool in their financial planning. Discovering your clients gaps in coverage is the crucial first step.
Here are a few example questions:
For an Individual:
How much disability benefits do you currently have?
Group and/or IDI?
What percentage of income do you have protected now?
How much monthly income do you require if you stop earning income tomorrow?
For a Business Owner:
What disability protection do you offer to your employees?
Does your LTD group coverage protect you, the business owner, up to 65%?
Do you have other employees or partners also not protected up to 65%?
Do you have a buy sell agreement between partners?
Is the buy sell agreement funded with disability protection?
Does your business have any key employees?
What is the average monthly business overhead expense?
Does the business have any notes or structured contractual financial obligations?
Step 2: ASSESS the Situation
By helping your clients quantify their risk exposure you are providing them a deeper understanding to the importance of having the right DI coverage in place to match their specific need. Be sure not to limit your reach here. With IDU's wide range of product options and high issue limits, assessing all aspects of your client’s risk situations will lead them directly to the solution.
Step 3: DESIGN a Plan
By partnering with IDU and our consultative approach, we will help you design multiple product offerings to fit specific client profiles and needs that maximize the value of their coverage.
Step 4: IMPLEMENT the Solution
Many brokers and financial planners hesitate on the implementation process over the concern that their clients may be declined, rated or dragged through a long time-frame process. By choosing IDU, we make this process for both you and your client simple.
