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Opportunities In The Critical Illness Market Today

Many middle-class Americans who face cancer, heart disease or other serious illnesses also face thousands of dollars of debt. Even with Health Insurance, the additional cost for specialist care, unique treatments, and high deductibles add up quickly upon a critical illness diagnosis.

Fundraisers on crowdfunding websites like GoFundMe have become a popular way to find financial help in times of a healthcare crisis – yet only 1 in 10 campaigns meets the financial goal.

The Need Is Real
 
Think of the difference $50,000 could make for a person who has just been diagnosed with a serious illness such as cancer or heart attack. There’s never been a better time to reach out to your clients who have a family history of cancer or heart disease and offer Critical Illness (CI) Insurance.
 
We’ve taken steps to streamline the process with our Critical Illness Insurance carriers. A client can get up to $75,000 benefit with no exam or interview. Simply submit a complete online application through www.cpsinsurance.com and you will have an answer within 48 hours.
 
Higher deductibles and healthcare costs are adding stress to people’s lives and budgets. Your clients will understand the importance of Critical Illness Coverage when you mention it to them. Help them fill the financial gap at a time when they need it most.
 
Contact your dedicated CI Specialist. We will guide you through the simplified process and provide you with everything you need to add this to your product offering. Spend 30 minutes with us to become proficient at offering Critical Illness Coverage.
 
Source: Chicago Tribune, “Medical GoFundMe campaigns are a symptom of a sick health insurance system,” August 23, 2018.Source: Chicago Tribune, “Medical GoFundMe campaigns are a symptom of a sick health insurance system,” August 23, 2018.
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Why Business Owners Should Invest in Disability Buyout Insurance

When a business has multiple owners, Disability Buyout Insurance provides funds to buy out the disabled owner’s share of the business. This ensures that the business can continue operating smoothly without financial strain.

The Importance of Disability Buyout Insurance

Without this insurance, a disabled owner’s share of the business could become a burden, leading to potential disputes and financial instability.

Who Needs Disability Buyout Insurance?

Any business with more than one owner can benefit from Disability Buyout Insurance. Whether it’s a partnership, a corporation, or a limited liability company, having this insurance in place can safeguard the business from potential disruptions caused by a co-owner’s disability.

How Disability Buyout Insurance Works

When a co-owner becomes disabled, the Disability Buyout Insurance policy is triggered. The policy provides the necessary funds for the remaining owners to buy out the disabled owner’s share of the business. This ensures a smooth transition of ownership and allows the business to continue operating without interruption.

Choosing the Right Disability Buyout Insurance

Factors such as the value of the business, the number of owners, and the potential impact of a co-owner’s disability should be taken into account. Working with an experienced insurance advisor can help in choosing the most suitable policy.

Conclusion

Disability Buyout Insurance provides financial protection and ensures a smooth transition in the event of a co-owner’s long-term disability. By understanding the importance of this insurance and choosing the right policy, business owners can mitigate potential risks and secure the future of their business. Contact your Disability Insurance Specialist to learn more.

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Secure Total Protection For Your Clients

Picture a rising star in the world of professional baseball, a young shortstop with a promising career. As his performance continues to impress, his current team is eager to sign him into a long-term contract worth over $150 million.

Although he’s not yet a free agent, one of his trusted advisors realizes the importance of proactive planning to guard against any unexpected risks that could potentially derail his future earnings.

The Challenge

In this critical moment, the advisor, alongside the player’s agent and financial advisor, faced the challenge of securing comprehensive permanent total disability insurance.

The objective was clear: protect the athlete’s future contract and ensure financial stability should a career-ending injury or illness occur.

The Solution

We crafted a tailored two-year permanent total disability insurance policy valued at $12 million. Additionally, we included an exclusive Critical Injury rider offering up to $500,000.

This policy guarantees a lump sum benefit if the player experiences a permanent total disability, while the Critical Injury Rider provides added protection with a one-time payout for select accidental injuries 24 hours a day, on or off the field.

Let’s Connect

We specialize in crafting high-value, personalized solutions for professional athletes and high-net-worth clients. Our deep industry expertise enables us to provide unparalleled protection, ensuring your clients are shielded from life’s uncertainties.

Get in touch today to learn more about how we can help protect your clients’ financial well-being with the most comprehensive coverage available.

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Disability Insurance For The Part-Time Employee

Do you have any clients who earn significant income while working an inconsistent schedule or in a part-time occupation?
 
For traditional Disability Insurance, it is a requirement that the client work full-time in a particular occupation in order to qualify. This requirement eliminates many potential prospects that may have irregular work schedules or uncommon occupations.

We can provide you with an outlet to obtain Disability Income Insurance on clients who may not work 30+ hours per week.

How does it work?
 
We will help to qualify your clients based on their annual income without consideration to whether they earned that money in 36 days or 365 days.
 
Some instances where this comes into play are the physician who decides to scale back their work schedule to be more involved with raising a family or the musician who may only tour for a few months and not work for the rest of the year.
 
Other occupations such as fishermen and oil rig operators also have inconsistent work schedules that require special consideration for Disability Income protection.
 
Whether you have a highly compensated part-time worker, a celebrity or athlete, we can help you obtain coverage when the traditional carriers can’t or won’t.
 
We can also review previous Disability clients who may have previously been declined for coverage.
 
Our team is here to help find coverage on these otherwise difficult to place cases by collecting the proper information and working with you to develop and customized plan design.
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Protecting Your Client’s Income And Their Ultimate Retirement Goals

With the economy the way it is, most would agree that saving for retirement in these trying economic times can be challenging to say the least.
According to a CNBC study, 36% of American’s making over $100,000 a year, said they aren’t contributing a dime to retirement savings such as a 401k or IRA account.

Now imagine trying to save for retirement if you are too sick or hurt to go to work and earn an income. It quickly becomes next to impossible.

We have several carriers that offer solutions to help protect your client’s ultimate retirement goals if they were to get sick or hurt and could not work. One example is called DI Retirement Security.

DI Retirement Security allows your client to continue saving for retirement even if a disabling event should unexpectedly arise, by making a retirement contribution of up to 15% of their income or a maximum of $4,550 every month for the length of any long-term or total disability event.
 
Here are some sales approach tips:
  • Sell Individual DI Insurance and DI Retirement Security together
  • Approach clients who are at their maximum issue limits for Individual DI
  • Approach clients who are contributing the maximum to their 401(k)
  • Talk with business owners about providing DI Retirement Security as an employee benefit for executives and key employees
To find out more about how you can couple Individual DI Insurance with DI Retirement Security to help your client reach their ultimate goal of retirement, please contact your dedicated DI Associate today.
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Complete Income Protection For All

Modern day Disability insurers are forever fearful of accidentally over-insuring their clients. This is particularly true when dealing with highly compensated clients.
 
In the past, the income replacement percentage was often subjectively determined by a particular carrier’s underwriter.

As of late, the Council for Disability Awareness has tried to modernize the approach by implementing a statistical analysis approach that determined the need to replace at least 65% of income.

Traditional carriers often meet and sometimes surpass the need for low to middle income earners, but fall short with incomes greater than $150,000.
 
Whether your client is generating a modest income or is highly compensated, there is an essential need to provide adequate income protection to help sustain an individual or family’s lifestyle during periods of non-productivity or severely diminished cash flow due to a short or long-term disability.
 
By stacking additional income protection on top of the coverage the traditional carriers provide, the client’s ability to maintain their current lifestyle turns from fiction to reality.
 
Contact your dedicated DI Specialist today to learn more about how you can offer your clients a complete income protection plan.
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Are You Including Disability Coverage In Your Client’s Buy-Sell Planning?

When most producers and their clients think about Buy-Sell Planning for their business, they consider Life Insurance as the only vehicle needed in order to provide a source of funding for the buy-out of an owner.
 
It’s true that Life Insurance will provide for sufficient funding of a business continuation plan if the insured owner dies while the policy is in-force, but what happens if the partner doesn’t pass away and instead, they become injured or sick to the point where they are no longer capable of working in their normal capacity?
 
If you have used Disability Buy-Sell Insurance coverage as a companion to Life Insurance planning then your clients will be prepared for exactly this situation.
 
Including a Disability Income Policy in a Buy-Sell Arrangement Can Serve Two Main Purposes
 
It provides a source of funds to their business for the purchase of a disabled owner’s interest in a business while also providing compensation to a disabled owner for his or her equity in the business.
 
We can provide you with fact finders, valuation questionnaires and approach letters to help you to either review an existing Buy-Sell arrangement or to help you plan for the implementation of a new business continuation plan.
 
Once you have discussed and assessed the company’s need for including DI inside of their Buy-Sell arrangement, you can use it as a spring board to then promote Key Person Disability coverage, as well as personal DI coverage for any employees.
 
Success Story
 
Recently, we were contacted by a producer looking to secure a basic Term Life policy on a business owner. In discussing the need for the coverage, we brought up the concept of including Disability Income inside of the Business Continuation Plan.
 
The result was an individual DI policy for the owner and we are now working on providing plans for all of the Key Executives. Prior to this case, the producer had never sold a DI policy with us.
 
Getting Started
 
If you have written Buy-Sell Insurance Policies in the past but did not include any Disability Income Protection, it is never too late to reach out to your clients and offer them a complimentary policy review to ensure that the planning is still sufficient for their business.
 
While reviewing the Life Insurance inside of the plan, you can discuss the need to have DI policies including in the Continuation Planning.
 
Helping to protect your client’s business interests in the event of an untimely injury, sickness or death will further solidify your role as their primary insurance professional and will likely lead to additional sales opportunities within the business and referrals for new client opportunities elsewhere.
 
Call us today for help in starting the review process or for ways to enter the business insurance marketplace.
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5 Key Reasons to Sell Disability Income Insurance

Adding Disability Income Insurance (DI) to your product portfolio can greatly benefit both your clients and your business. Here are 5 compelling reasons why selling DI is a smart decision:

Meets a Critical Client Need

According to the Social Security Administration, one in four people will experience a disability lasting 90 days or more before retirement age. DI ensures that clients can continue to cover essential expenses, such as mortgage payments, healthcare, and daily living costs, even if they are unable to work due to illness or injury.

Expands Your Product Range and Boosts Sales

Disability Income Insurance pairs well with life and health insurance, offering an opportunity to provide more comprehensive coverage and creating a more complete financial strategy.

Offers Attractive Commission Opportunities

DI typically offers strong first-year commissions and ongoing residual income for as long as the policy remains active – providing agents with a steady, recurring stream of income beyond the initial sale. Plus, many insurance carriers offer performance-based bonuses for selling DI.

Distinguishes You from Competitors

Not every agent offers Disability Income Insurance, which gives you an edge in a competitive industry. Positioning yourself as a provider of comprehensive financial protection can enhance your reputation as a knowledgeable, client-focused professional.

Fosters Long-Term Relationships

Selling DI builds strong, lasting relationships with clients who will appreciate your holistic approach to their financial security. These relationships often lead to higher retention rates, more referrals, and a stronger bond between you and your clients.

By incorporating Disability Income Insurance into your offerings, you provide clients with an essential layer of protection, support them in navigating financial risks, and strengthen your position in the marketplace.

Contact your DI Specialist today for assistance.

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Why Disability Income?

As discretionary income tightens in most households across the country, many Americans have put the purchase of retirement and insurance vehicles on the back burner, leaving themselves open to risk of severe loss and no way to indemnify.

While most would consider their greatest asset to be a house or a car, in reality a human’s most valuable asset is their ability to earn an income.

Without cash inflow, no insurance, investment, or savings product can be purchased and utilized. Disability Income is a commonly overlooked portion of the planning process yet can be the most important piece of the puzzle.
 
Common misconceptions about disabilities.
 
The main reason Disability Income is usually overlooked by Financial Professionals and their clients is the misconception of what causes a disability.
 
A recent consumer study released by the not-for-profit Council for Disability Awareness (CDA) reported that 71% of respondents said a disability is most likely caused by a serious accident.
 
In reality, insurance statistics show that only 9% of long-term disability claims result from serious accidents. The remaining 91% of income-interrupting disabilities come from common ailments like back and joint pain, chronic diseases, cancers, depression and pregnancy.
 
If your client becomes ill with any of the conditions or disabilities listed above and are unable to work for a period of time, will they have sufficient funds available to continue paying for their numerous financial obligations?
 
We can help.
 
We understand the challenges your clients may be faced with during periods of disability.
 
Our strong relationships with top Disability Providers allow us to help you find the best fit for your client regardless of their occupation.
 
Products range from simplified issue to fully underwritten with the goal of getting your client coverage as quickly as possible. Nearly all respondents in the CDA study rated their ability to earn an income as more valuable than any other resource in maintaining financial security. However, only 37% said they have thought about taking steps to protect their income. Don’t let your client fall into the remaining 63%, the need is real.
 
Contact your dedicated Disability Sales Specialist to learn more about how we can help your clients protect their most valuable asset.
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Affordable Coverage With Real-World Impact

This approach is designed to be more affordable than comprehensive DI policies while still providing meaningful income protection.

The goal is simple: help ensure clients can continue paying for the basics that keep their household running if a disability interrupts their ability to earn an income.

For many clients, the M.U.G. Plan can serve as:
  • An entry point into Disability Insurance
  • A solution for clients with partial or insufficient coverage
  • An opportunity to up-sell or layer additional protection over time
Takes the Guesswork Out of “How Much Coverage Do I Need?”
 
One of the biggest barriers to purchasing DI is confusion around benefit amounts. The M.U.G. Plan simplifies the process with one straightforward question:
 
“How much do you spend each month on your mortgage, utilities, and groceries?”
 
That’s it. No complicated formulas. Just a practical, needs-based conversation that resonates—especially during Disability Insurance Awareness Month, when clients may be more open to discussing protection planning.
 
Tools to Help You Get Started
 
To support your outreach, a customizable M.U.G. Plan marketing flyer is available for download. This flyer is designed to help you present the concept clearly and start meaningful conversations with your clients.
 
Return the completed flyer to your Marketing Representative for a tailored recommendation that aligns protection with your client’s needs.
 
Make May Matter
 
Disability Insurance Awareness Month is about education, awareness, and action. The M.U.G. Plan gives you a simple, client-friendly way to highlight the importance of Disability Income Insurance—and show clients how they can protect what matters most.
 
To learn more about the M.U.G. Plan and best practices for discussing Disability Income Insurance with your clients, contact your Disability Income Insurance Specialist today.

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