Reed H. Schnittker, RHU

Q: What special initiatives is your agency/company undertaking to take advantage of Disability Insurance Awareness Month? What do you do to build on your DIAM momentum to help agents perpetuate DI awareness throughout the year?

Bloch
Income protection is promoted to our producers 24/7/365. During Disability Insurance Awareness Month, our agency holds an exciting day of learning and reward achievement at our DI Day. Each year at DI Day, we provide different agendas for our producers to keep knowledge and industry trends up to date. Solutions based discussions create innovation and presentations of real world examples of the value of disability insurance, such as “It happened to me.” Our carriers send top executives to support DI Day as well as participate in carrier panels. Panels of producers share sales ideas and presentation methods to provide easy and successful ways to present income protection coverage. After lunch, there is a “fun” golf tournament with prizes and a donation to a worthy charity.

Chittenden
This year we are doing something different. Rather than sponsoring a big DI Day, we are launching a series of small regional/office DI Days. The big seminar with speakers is very effective in some locales, but we have not found it to be beneficial for us. Nor have we found it keeps the interest going no matter how excited brokers are leaving the meeting. The problem we have found with the large annual meeting is that sales come from habitual behavior and habitual behavior is not created in a once a year rah-rah meeting. So we are bringing DIAM into our brokers’ offices. We are holding a series of smaller meetings during DIAM and then establishing ongoing one hour training sessions on a monthly or quarterly basis. This way we can help our brokers develop the habit of asking the right questions to identify the problems that are solved by DI. We help them identify problems and sell solutions.

Petersen
We try and remind insurance professionals that each year DIAM highlights the need for income protection to the public through numerous tools and outlets. It is an awareness, not a sales strategy. However, it is this increased awareness that makes it prime time to focus on marketing and talking to clients about the need for income protection for both personal and business needs.

Phillips
The biggest initiative we undertake for DI Awareness month is our DI Day event along with our partner agencies in the Plus Group around the country.

Truth be told we usually don’t make it a whole day, so perhaps we should label it our “DI Morning.” For three or four hours we’ll do presentations on the products that make up the DI marketplace, and have sales sessions to help advisors with ideas and tips to sell more DI to their clients and introduce it to their practices. Very often we’ll attach Continuing Education credits to the advisors as well.

This year, our event is tentatively set at our go-to venue for our DI Days, The Rivers Casino in downtown Pittsburgh on May 22. The Casino offers beautiful meeting rooms. At our first DI Day years ago, an advisor won $800 in the casino after the event! That’s a sure way to get a repeat attendee! Although we are trying to raise awareness for disability insurance, we still try and make the day as fun as possible for anyone who attends. That’s why organizers do usually try and plan a casino event afterward. Before this next event, some guests may want to take some time to brush up on their casino skills by looking into this mega888 download. This should ensure that people stand a better chance of winning. If people want more of a variety with their online casino playing, they can look to other sites that may have what they are looking for, for example, they may want to play on 918kaya apk, or similar, to brush up on their skills, whichever one they choose as long as they play responsibly they’ll have a lot of fun. Just make sure to check how highly any online casino is rated before you start using it – the best way to do this is to head over to casino-bonus.me.uk and read some reviews. Alternatively, they could conduct a direct search using specific phrases to find the best sites to play gambling games. If a person wishes to try his or her luck at Ripple casinos, websites such as Crypto Snack may be of assistance by recommending the best ripple casino sites available online.

For us DI Awareness doesn’t only occur in May. We are constantly offering training events and opportunities during the year. We have ongoing meetings, webinars, and broadcast emails that provide advisors the opportunity to learn about DI. Our meetings take the form of what I call our “Big Hotel Meetings in the Sky” where we’ll rent a room at a hotel and bring in an industry speaker or company rep to talk DI. We hope to get 50 or so brokers to one of those events.

We also have geographically oriented “DI hand-to-hand Combat Sessions” where we’ll do smaller, more intimate meetings in handy locales, with the intent of getting 5-10 advisors in attendance. These are more intimate sessions where we’ll peel apart products and provide ideas as to how to sell this stuff.

And, of course, we’re old fashioned. We still meet with brokers to provide training in their offices to themselves and their staff-often with CE just for them.

For us there is no “DI Awareness Month” it’s more like the “DI Awareness Continuum.”

Perry/Bowden
We participate in many of our general agencies’ DI Days providing presentations on the importance of disability and awareness of the products available to clients who are not able to obtain disability in the standard market. We also provide webinars throughout DIAM to educate agents who are not aware of the high risk products that are available and how to capitalize on the declined cases they may have received.

Schnittker
This year we are doing more agency meetings, road shows, individual sit downs, presentations to local financial associations, study groups, etc. We are more visible than ever, just in different capacities. We will continue to educate going forward.

During DIAM we will utilize different tag lines on emails and correspondence. We will send out more marketing emails to our brokers discussing DIAM, and offering sales tips, marketing facts, and bringing them up to speed on the resources that are available.

Q: DI Day events are popular with BGAs active in the DI market.  What does your agency do to attract agents to your event and/or aid and encourage them to utilize DIAM to engage their clients in the DI discussion?

Cohen
May is Disability Insurance Awareness Month. The Eugene Cohen Insurance Agency held a disability insurance  event in May, 2016, that attracted over one hundred advisors. Their comments were: “Very informative and motivating.”  The attendees were advisors specializing in life insurance, casuality insurance, health insurance and financial advisors.

In preparation for the event this year, we are giving attendees websites to watch for their benefit as well as for their clients. The Council for Disability Awareness is one and LifeHappens.org is another. Both sites are educational and Informative.

This year’s agency disability insurance awareness event is scheduled for May 12. The theme is The NEED and the IMPORTANCE of Disability Insurance.  Acclaimed and knowledgeable speakers in the field will make presentations.  The keynote is a nationally known speaker who will have the attendees eager to tell their clients about the most well kept secret in the insurance world—disability income protection. They will leave feeling anxious to have discussions about disability insurance with their clients as soon as possible.

Petersen
DI Day is a trademarked name for the Plus Group, a nationwide network of some of the top disability brokerage outlets. There are also other similar programs offered through other brokerage outlets as well as NAIFA and NAHU chapters. Regardless, these educational days are a producer’s single best source for finding out about what is new in the disability markets as well as picking up ideas that work for marketing, sales, field underwriting and even handling a claim. 

As an underwriting company, our role is to provide products and services to BGAs to solve their clients’ (producers) needs. As such we place a lot of resources into print advertising with ideas. We also produce numerous articles and other written communications frequently throughout the year and, lastly, we get in front of insurance professionals with ideas to sell more and strengthen their positions as insurance advisors. 

Mohr
DI Day is a registered disability insurance training event for Plus Group offices across the United States. Plus Group offices such as ours (Diversified Brokerage Specialists) generally conduct a DI Day event during the Disability Insurance Awareness Month of May. Last year we held two, one in May and the other in September. We advertise this event to our existing brokers and also use the event to raise awareness of the importance of disability insurance sales and marketing to a broader agent audience. Attendees are always very complimentary, coming away with knowledge and education that will allow them to better understand disability insurance needs and how to better protect their clients. They also learn how, through disability insurance sales, they can enhance their own income and careers 

Schmitz
Our agency holds a DI Day during DIAM. We look for a variety of speakers in order to develop an agenda which includes education in at least three of the following areas: sales ideas, product knowledge, industry outlook, claims, legal, and tax issues. We emphasize value that can transfer to the client and help make a sale. The event is free and scheduled to avoid traffic.  

Schnittker
Getting advisors/brokers to attend a DI Day event is quite challenging.  It is difficult to get people to take half a day out of their schedule to dedicate to an income protection event.  So, we have a keynote speaker that people will truly enjoy and creates a buzz that people will talk about for months to come.

Q: Disability income protection should be a year round focus—how do you build on DIAM interest to help agents develop DI awareness and focus throughout the year?

Cohen
I was introduced to disability income protection insurance in 1963. For the last 54 years I have been making consumers and advisors aware of the need for disability income protection.  I have seen how this product has financially helped people during life’s disruptive unexpected events.  

It is most important that advisors are knowledgeable about the product and that they are comfortable presenting it to their clients.

Sixty-one percent  of Americans say most people need  disability insurance but unfortunately only 26 percent have it. (2015 Insurance Barometer Study, Life Happens and LIMRA).

LifeHappens.org is a professional resource for advisors and consumers. There are many and varied videos showing how disability protection has helped individuals survive financially during a disability.  

Advisors need to be trained to think about what would happen to their clients if an injury or illness rendered them unable to work. They need to ask the right question to their clients: “Is your income protected if you became injured or sick and could not earn an income?”

Advisors need to be able to overcome the four objections that clients give to them: 1) No need; 2) No hurry; 3) No confidence; and 4) No money.

The most important job of the advisor is to uncover the need. The way to do this is by asking questions. The goal is to have the client understand that his/her most important asset is future income. Once the client understands the need for disability income protection they will find the dollars and will be ready to purchase.  Need motivates decisions.

In the Eugene Cohen Insurance Agency we have disability income specialists. It is their job to talk to advisors all day long about disability income.  We are spreading the word and making advisors comfortable with the uncomfortable

Petersen
Disability insurance is a year round need. What DIAM does is add subtle as well as direct information to the general public. This is done through magazines and public service announcements focused on the general public. The key is the awareness!

Throughout May the public is being bombarded with stories about the need for disability insurance. Producers can take advantage of these messages by focusing discussions on this vital topic. Now, since May sets the stage, the remainder of the year makes the discussion of disability insurance a bit easier. 

PIU helps producers realize what DIAM actually does and we try and explain that this is a great time to market these programs harder.

Mohr
We continue to reinforce the concepts presented at DI Day throughout the year. We have a full time staff committed 100 percent to the marketing and selling of disability insurance cases. In addition to new sales and agent training, we follow up all future purchase options and new employee additions to our multi-life accounts. A book of disability insurance is like a freight train rolling down the track. You cannot stop it. Even if you try it will take a long time. We just keep throwing coal on the fire by adding new sales each month and building on our book by growing  our disability producers and our renewals.

Schmitz
Yes, income protection should be a year round focus. We are always reminding advisors that they have clients who do not have enough invested assets to generate an amount of income sufficient to pay all the bills which will continue after a disability. Quite a few advisors seem to be focused on the investing while neglecting the protection. Wealthy clients have larger bills that need larger protection.   

Schnittker
A true challenge—to keep DI on the shelf at all times with advisors/brokers.  DI products pay the very best renewal compensation and most carriers have structured their renewal payout around volume, so it is important to constantly remind the producer what kind of renewal compensation they can earn with volume and persistency.  Some companies provide the ability to demonstrate “what if” models that can be very good motivators to the producer who has committed to writing regular business.

Q; What steps can you recommend for agents to prepare for and take advantage of DIAM to engage clients in the DI discussion?

Cohen
Make the most out of Disability Income Awareness Month!  Put Disability Income Awareness Month on your website. Tell your clients it is Disability Income Awareness Month.  Talk to your clients about disability protection.  Ask questions to find your clients’ needs.  Use all resources available to you to make this year the year you become a disability income protection advisor.

Petersen
The beauty of DIAM is that there is a lot of subtle messaging taking place to the general public on this subject. All producers need to do is talk about it! Insurance producers are frequently reluctant to talk about disability insurance due to fear. Fear of losing a sale on the life insurance. Fear of scaring off a sale by sounding like they are trying to sell too many things. Fear of the lack of expertise on their own part. This is exactly where the professional brokerage outlets come in handy! They can make any producer an expert in a short time. As to the other fears, these are their own self-generated fears and not the reality. As professional insurance advisors they should advise on all aspects of insurance, not just the part that is easy!

Throughout the year producers should take added educational steps in learning more about these essential coverages. I come from a family that lost businesses and even a house because of the lack of disability insurance. I also come from a family in which a home was saved because of having disability insurance. There is no one who can tell me it will never happen!

Business owners today are even more in tune to what happens when a financial impact adversely affects the business. 

Did the rainmaker (keyperson) stop generating cash flow because he or she became disabled? How long will this be before the bottom line is impacted?

Partners frequently set up buy-sell arrangements which account for a death contingency, but what if they don’t die? A disabled partner still has a voice but is more worried about getting money than building a business. Without a disability buy-sell a company will have to self-insure this contingency. Do they have the cash to withstand a multi-million dollar payout without paralyzingly the company? 

Many businesses take added liability with bank loans yet rarely protect against the possibility of severe difficulty paying them off because the owner becomes disabled.  It can, and does, occur in the real world. 

How do you make these types of sales? Listen! A sales call is not a one sided conversation, but an exercise in asking questions about the person, the company and the plans for the future—and then listening! What are their dreams and goals? How can you as the insurance expert make sure those dreams and goals happen? 

Insurance is the only financial assistance available to someone when they need it the most and are in a situation they cannot get it from anywhere else! What an amazing product! You are all superheroes! 

Mohr
Producers should ask, ask, ask and disturb, disturb, disturb! Whether during DIAM or all year long, advisors must ask every client that they work with if they own enough disability insurance. A review of a client’s disability insurance is every bit as important as a life insurance or investment review. I have seen clients’ fire advisors and switch to our broker advisor simply because their existing advisor never approached them about the importance of disability insurance.   

Confidence in the product and knowledge of the business applications for disability insurance can make all the difference. This is why attending DI Day is so important. The education and the sales tools provided, especially when it comes to business disability insurance needs, are invaluable.  DI Day will help advisors understand the many needs for business disability insurance. Most mirror the same needs for life insurance, such as income replacement, key person, overhead expense and buy-sell needs. The fact of the matter is that through disability marketing and discussions, the DI producer will also sell tremendous amounts of life insurance at the same time! The difference is that by leading with disability insurance needs you are setting yourself apart and opening doors to high income earners that a life-only agent will never open.

Schmitz
DIAM is another marketing tool. It is an opportunity to remind brokers and clients that DI exists and may be available to them to protect their largest asset – their ability to earn an income. Take advantage of the nationally recognized month. You have an excuse now to bring up the subject of income protection. The number one reason people don’t buy DI is because they were never asked to buy it. The Council for Disability Awareness (www.disabilitycanhappen.org) and Life Happens (www.lifehappens.org) are excellent resources with links you can use with clients.

Business owners may be the least protected. They often opt out of Worker’s Comp, and are under the delusional impression that the company will continue to pay them indefinitely should they become disabled. Yet, when asked “what is the longest vacation you have taken?”, the answer is usually something like “I rarely take a vacation” or “I took two weeks, but brought my laptop so I could check in regularly.” Some questions to ask the business owner: How long could your business operate if you could no longer perform your role?  What would happen if your partner stopped coming to work? How would you pay for expenses after a life-changing diagnosis or surgery?  What would happen if your business partner could no longer afford the purchase payment? Does your executive team value a stable income and a supportive work environment? How would you pay for your regular expenses if tomorrow was your last day of work? 

Schnittker
It depends on the producer (agent/advisor/planner) as you are tailoring your recommendations around supplementing their regular business approach with income protection.  They need to put income protection in their tool bag and we need to challenge the producer to consider the opportunity for income protection for all of their clients.  

Bottom line—you need to have a broker that is willing to consider and introduce income protection solutions for their clients. Many times the broker is not aware of the business solutions that are available to their clients, so we need to be diligent in our education and training.  We encourage brokers to push the bar and ask very direct questions like, “If you were sick or hurt, what would you like to happen to your business, your employees, your partners, etc.?”

Though disability is behind a significant number of home foreclosures and personal bankruptcies, insuring against it has not been a high priority for most workers because many assume they’re already covered through Social Security, workers’ compensation or employer-provided group plans.

Most Americans don’t realize a disability could interrupt their income—and fewer still are protected from that loss by adequate savings, private insurance or government programs.

Just consider the following statistics on disability recently compiled by the Council for Disability Awareness:

More than 10 percent of Americans between the ages of 18 and 64 have a disability (U.S. Census Bureau, Selected Social Characteristics in the United States: 2009).

8.1 million U.S. workers receive Social Security Disability benefits as of October 2010 (SSA Beneficiary Data, 10/10).

Nearly 90 percent of disabilities aren’t work-related and thus don’t qualify for workers’ compensation benefits (National Safety Council, Injury Facts, 2008 edition).

Applications for Social Security Disability Insurance (SSDI) benefits increased 21 percent from 2008 and are projected to increase in 2010 as well, yet only 35 percent
of initial SSDI applications were approved in 2009 (Social Security Administration).

100 Million Americans are not protected by private disability insurance (Council for Disability Awareness, Long-Term Disability Claims Review, 2005).

Once again the LIFE Foundation has de­clared May Disabil­ity Insur­ance Aware­ness Month. It’s a time when the insurance industry comes together to do something about the enormous gap that exists between Americans’ need for disability income protection and the actual coverage they have in place. This year’s theme is “Pro­tect Your Pay­check.” LIFE will be launching the Produc­er Plan­ning Tool­kit later this month to help insurance professionals pull together a quick and effective campaign for May. Some of the many promotional endeavors include the following:

• Microsite. LIFE has created a microsite, www.protectyourpaycheck.org, to focus Americans on the fact that too many are leaving their most valuable asset—their paycheck—completely unprotected. At the end of this month, this will become a standalone microsite that will feature the best of LIFE’s web-based DI resources. It will also be one of two places where consumers can enter the “This Moment Made Possible by My Paycheck” photo contest.

• “This Moment Made Possible by My Paycheck” Photo Contest. Accessible through the www.protectyourpaycheck.org microsite and LIFE’s Facebook fanpage beginning later this month, this contest will ask consumers to submit a photo with a caption that captures a moment that their paycheck has made possible (e.g., family members enjoying time together in their home, a memorable vacation, etc.). There will be a photo carousel on the www.protectyourpaycheck.org microsite, and people who grant LIFE permission will have their photos featured there. It will only take a few minutes to enter, and the person who submits the best photo and caption will receive a $500 gift card.

• DIAM on the LIFE Website and Blog. During May, the homepage of LIFE’s main website will focus on disability insurance, including a link to LIFE’s popular “Disability Needs Calculator” and the “Lifetime Earnings Calculator.” LIFE will also feature disability insurance content on “The Insurance Word Blog” throughout the month.

• Disability e-Cards. LIFE has a suite of electronic greeting cards, designed to give insurance professionals a cost-free way to communicate with people in their communities during DIAM and throughout the year. There are disability insurance e-cards that were developed specifically for use during the May campaign. You can access LIFE’s e-cards at www.­insureyourfuturenow.org.

• Turnkey Planning Kit. LIFE is creating a new planning kit for agents to use during May, which includes free downloadable flyers for use in mailings and client meetings, a DI sales ideas podcast, links to important DI resources, as well as a marketing guide so agents can create their own quick, effective DIAM campaign to reach out to their communities.

• Media Outreach. Throughout the year, LIFE reaches out to personal finance reporters at the nation’s leading print and online publications. During May, LIFE’s focus will be on story ideas relating to disability and disability insurance.

• Public Service Announcements. LIFE will develop and distribute radio PSAs to 1,000 radio stations across America.

The following information will provide you with some helpful statistics and information as well as some sales ideas from leading DI specialists from The Plus Group.

Social Security Disability Insurance: Participation Trends
and Their Fiscal Implications

A series of issue summaries from the Congressional Budget Office, 7/22/10

Benefits in the Program
“Average monthly benefits for disabled beneficiaries were $1,065 in May 2010. Benefits for spouses and children were lower, averaging around $300 per month. Disabled beneficiaries usually receive the same amount of benefits each month, boosted by annual cost-of-living adjustments, for the rest of their lives.

“DI benefits, like all Social Security benefits, are tied to a worker’s past earnings through a progressive formula. That is, workers who have higher earnings receive larger benefits, but the replacement rate—the portion of earnings that benefits replace—declines with earnings.

“For example, a 55-year-old worker who has had earnings equal to the nationwide average (in 2008, $41,000) during all of his or her working life and who becomes disabled this year will receive monthly benefits of $1,544, replacing 45 percent of those earnings. Yet if that person’s earnings had been half as much, the benefit would have been $993, replacing 58 percent of earnings.

“Because the benefit formula is linked to the growth of average earnings nationwide, average initial DI benefits grow at approximately the same rate as average earnings.”
For the entire eight-page report in pdf format, go to www.cbo.gov/ftpdocs/116xx/doc11673/07-22-SSDisabilityIns_Brief.pdf

About the Personal Disability Quotient

The Personal Disability Quotient and the PDQ Calculator were ­developed to aid in educating consumers by the Council for Disability Awareness. The statistical basis for the PDQ Calculator is the 1985 Commissioners’ Individual Disability Tables A and C, Society of Actuaries.

For questions about the PDQ or CDA, please call 207-774-2634.

For more information and other client questionnaires, go to www.DisabilityCanHappen.org.

Your Chance of Becoming Disabled
Check the box below that reflects your total points. Read across to see your estimated chance of becoming disabled and unable to work for three months or longer before the age of 65.

__ less than 25 points
   5-25% chance (below average)
__ 25-35 points
   25-35% chance (about average)
__ 36-49 points
   35-50% chance (above average)
__ 50+ points
   50% or more chance (significantly above average)

The Length of Time a Disability May Last
                                                 Probability
                           Average      of disability*
                          length of    lasting 5 years
       Age          disability*       or more
__ 20-24       69 months          30%
__ 25-29       74 months          32%
__ 30-34       78 months          35%
__ 35-39       82 months          38%
__ 40-44       85 months          40%
__ 45-49       86 months          43%
__ 50-54       86 months          45%
__ 55+          84 months          46%
*For disabilities lasting three months or longer.

Mind the Gap In Your Key Clients’
Group DI Plan

By Ray Phillips

A trip on the London Underground is a unique experience. The complexity of the subway system borders on anarchy. Yet through it all a proper British structure keeps the system moving in a timely, efficient and orderly way.

As one stands on the platform and a subway car approaches, an otherworldly voice bellows from a loudspeaker, Mind the gap. This is the London Transit Authority’s way of telling riders to be careful getting in the car lest they trip over the space between the car and the platform, or worse yet, get a foot caught in the small chasm.

A prudent DI planner might use this anecdote with clients when discussing their need to supplement a group long term disability (LTD). “If you don’t Mind the gap, you might get caught short at claim time.”

Consider this scenario: A well-compensated client has coverage at work. His perception is that it completely covers his income and there is no need for additional individual coverage. But remember, Mind the gap.

Let’s assume the client is making $225,000 and that he does indeed have a solid group LTD plan at work—60 percent of salary to a maximum of $10,000 per month. The client’s annual DI benefit would provide $120,000 of taxable benefits (this benefit is taxable if the employer is paying the premium). Obviously, there’s a shortfall relative to his income here, and realize that the gap would be wider if the client’s income was higher or if the group LTD program’s monthly cap was lower. Yet an appropriately structured individual DI plan can address that shortfall.

Likewise, bonuses and commissions are not countable toward the income a group LTD plan will protect. This might further widen the gap, especially for those who are in a commission-oriented occupation or who have a history of healthy bonuses.

When working with the clients who have DI coverage provided by their employers, it is important to make sure the income they’re making is suitably protected. Group LTD benefits may not protect as much income as the client assumes. Remember to think of the London Underground and Mind the gap in your client’s group LTD plan!

Tips for a Successful
Voluntary Multi-Life DI Case

By Reed Schnittker

The individual disability income (DI) insurance industry has seen growth in the voluntary multi-life marketplace. It’s an attractive market because it allows:

• Employers to maintain comprehensive and budget-friendly employee benefit packages to attract and retain employees.

• Employees to purchase valuable coverage at a discount through a carrier their employer has endorsed—often with streamlined underwriting.

• Producers to see increased referrals, increased cross-selling opportunities and more commissions.

To be successful, producers need to understand the customer, effectively communicate the offering, and work with the employer to establish a plan and enrollment strategy that best meets the employer’s needs.

Understand the Customer. Employers are the “gatekeepers” to employees, and a strong relationship with them can result in better support, access to employees, and a stronger plan design. When meeting with employers, position yourself as an expert for employee benefits and ask questions that help you deepen your understanding of their workplace and objectives. The knowledge you gain helps you and the insurance carrier develop a plan design that meets employer and employee needs.

Communication. Putting benefit decisions in the hands of employees means more education and communication is needed. Most employers welcome assistance in helping employees understand the benefit offering. The best way to educate them and ensure a successful enrollment is to use a variety of communication methods with messages that address their needs.

Establish a Plan. Creating a customized plan design and determining the best ways to communicate with employees takes time and coordination. Work with an insurance carrier that offers assistance, such as customizable communication templates, employee enrollment packets and enrollment help. Establish employer expectations by clearly defining your role and theirs regarding account set-up, enrollment communication, enrollment meetings and policy delivery.

Following these tips when selling and enrolling a voluntary multi-life DI program can provide benefits for everyone—you, the employer and their employees.

Disability Protection
For the Single Business Owner

By Ken Bloch

Single business owners invest countless hours and energy into creating wealth, stability and security for their families. These businesses are not only the single source of income, but also future retirement income and legacy for the owners. Will the value of such a business withstand a disability moment?

The sole business owner is the strength to his family, employees and clients. However, even the most stable businesses can become fragile in a disability moment. When this happens, a business suffers a loss of value due to the loss of leadership.

A single business owner protects his income with personal disability insurance and business expenses with a business overhead policy. His family is protected with life insurance. What about protection for the business? A single business owner can insure the value of his business up to $5,000,000 based on current market conditions and receive a permanent total disability lump sum payment after a 12-month elimination period. The value of the business is calculated using a multiplier of wages plus profits. Benefits would not be payable if the business owner was able to sell the business.

Every sole owner business should consider this coverage—physicians, attorneys, CPAs, dentists, manufacturer’s representatives, financial planners, and other executives and professional business owners. After a severe stroke, how long will any of the above occupations be able to maintain their client base and business value?

Discussing this issue with your business professional clients gives you the opportunity to review all facets of business insurance with them. It also provides the opportunity for new agents to utilize daytime activity to create new clients and build a successful career.

Important Resources for Disability Insurance
Information and Education

The Life and Health Insurance Foundation (LIFE)
www.lifehappens.org
888-543-3777
LIFE is a nonprofit organization, formed in 1994 by seven leading insurance producer organizations, to better educate the public about important insurance planning topics. LIFE coordinates three industry-wide awareness campaigns: Insure Your Love (observed in January/February), Life Insurance Awareness Month (observed in September) and Disability Insurance Awareness Month (observed in May). A wealth of information is on the site, plus the organization provides various promotional materials for clients.

Council for Disability Awareness
www.disabilitycanhappen.org
207-774-2634
Since it began in 2005, this nonprofit group has engaged in communications, research and education, helping the American workforce become aware of the growing likelihood of disability and its financial consequences. This website contains useful information that can be helpful in marketing DI to clients.

The International DI Society
www.internationalDIsociety.com
562-481-2381
The International DI Society is dedicated to the task of preserving and enhancing the disability insurance industry. Membership includes industry regulators, producers, educators and insurers. IDIS has a mentoring program for newcomers to the disability market. The Society hosts an annual meeting in the fall. The website provides helpful articles and a very useful glossary of terms used in disability insurance.

The American College
www.theamericancollege.edu
610-526-1442
The premier educational institute, specializing in financial services. Offers several respected industry designation programs, as well as other specialized educational classes. For courses specializing in disability insurance, go to www.theamericancollege.edu/insurance-education/lutcf-insurance-skills.

LIMRA
www.limra.com
860-688-3358
More than 850 financial services companies in more than 70 countries around the world turn to LIMRA first to help them build their businesses and improve their performance. This 90-year-old organization provides financial services companies with the latest industry information and makes recommendations that address their needs. While much of their information is proprietary to member companies, the website has useful information.

The Plus Group
www.plusgroupus.com
800-831-1018
The only national insurance brokerage organization focused on disability insurance. There are 20 partners who represent the recognized leaders in the income and asset protection industry. Helpful articles can be found on this group’s website.

Disability Insurance Forum
www.disabilityinsuranceforums.com
This is a website/blog where disability insurance agents can interact with each other. Use this to find joint work partners across the country, debate products and learn more about disability insurance.

Armed with this information and sources, you should be ready to take advantage of the promotional materials available from the LIFE Foundation to bring DI into your product mix.