If you sell disability insurance, you must also practice what you preach, and buy a disability policy on yourself. When you purchase a disability insurance policy on yourself, you benefit in many ways:
- You experience firsthand the application and underwriting process, giving you valuable insight
- You address your own income protection needs
- You earn first-year commissions and ongoing renewals that help offset a portion of your premium each year
Selling disability insurance is also a huge market opportunity because there aren't many agents selling it. 51% of consumers are concerned about supporting themselves if they were injured or became ill and couldn't work, but only 29% actually own disability insurance.
The disability insurance sale is a more difficult one, but if you put forth the effort, it pays well and it might help you sleep better at night. We challenge you to find ways to make the need for disability insurance relate-able to your clients. There are many tools and calculators available to help you draw connections between the coverage and your clients’ everyday lives.
*All references to statistics can be found at lifehappens.org.