Summer is on the horizon. Many of your clients are out enjoying their favorite outdoor hobbies, like riding motorcycles, mountain climbing, rafting, boating, etc – Hobbies that carry a certain level of risk of getting hurt and not being able to return to work for a period of time. Accidents are going to happen this summer that is just a part of life. One slip, and they could find themselves in a real financial catastrophe. Are your clients covered?
There is an affordable income protection program geared specifically towards these types of situations. Your clients can secure coverage that will pay tax free income if they get sick or hurt. They do not have to worry about the bills being paid and keeping food on the table while they recover.
The common misconception is that this type of coverage is going to be too expensive for you average client—but the reality is the coverage is much more affordable than most people realize.
For example: A 30 year old male professional can get $3,000 a month payable for 1 year and the premium in most cases is less than $20 per month. Which can be affordable for most clients! This throws out the misconception that DI coverage is too expensive and the mindset of ‘I can’t afford it.’ The call you do not want to receive as an Advisor is where your client is in the hospital and suffering from an injury and you never had the conversation regarding an income protection plan. As an Advisor it is you job to reassure your clients that you are their advocate and that you are there to help protect them in an event like this.
Some additional features of this policy are – a Retroactive Accident Rider will pay from day 1 for accidents lasting over 90 days–which eliminates the waiting period. Another great feature is Simplified Underwriting for clients under the age of 50, there are no exams or labs just a telephone interview and the policy will be issued within 48 hours.
This concept of an income protection plan with a remarkably low premium will open the door to larger sales and engage those new and younger clients in having a conversation with you about protecting their income. Contact your CPS DI Specialist for more detailed information.
CPS Insurance Services
4400 MacArthur Blvd, 8th Floor
Newport Beach, California 92660
Main Phone: (949) 863-0700
Excellence, Passion, Integrity, Collaboration and Creativity – our core values since 1974
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