Why Sell Disability Income Replacement Insurance?
Disability income insurance can be a great addition to your business. There is a significant need for this type of coverage in today’s market. There is also a need for client education about the importance of income replacement protection. Sharing the facts with your clients will open the door to more disability income insurance sales.
- Among a provided list of items adults commonly think of as important, 67% cited income among their top three most important items. (1)
- More than 20% of workers under 40 say they are more likely to win the big lottery jackpot than become unable to work due to illness or injury. The real odds: 1 in 259 million vs. 1 in 4. (1)
- One-third of working adults would be more likely to consider obtaining income protection if they knew more about it; that number rises to 40% for millennials. (1)
- The two most often cited reasons for not having disability insurance? Younger workers say they really haven’t thought about it or just don’t know enough. (1)
- Half of those surveyed said they’d tap savings or investments to pay their bills if they couldn’t work. However, 57% said they only had enough money to pay for 6 months or less of bills. (1)
- Producers who take a comprehensive approach with clients – including offering disability income protection insurance – earn 43% more than producers who do not. (2)
If you have clients who rely on their ability to bring home a paycheck, then you have clients who need disability income protection insurance. Unfortunately, most people don’t realize how important or affordable protection is until it’s too late - after they become too sick or hurt to work. Get in touch with your clients today and ask how they want to protect their loved ones.
Not sure where to get started? Contact BUA. We’d love to listen to your needs and create a marketing and sales program that will work for you.
(1) Council for Disability Awareness, America’s Income Protection Picture, 2014
(2) 2013 Principal Life Insurance Company retail sales data