top of page

Growing your Client Base with Income Protection

These strategies here can help you grow your client base.

If everyone knew that their Group Benefits had the gaps and limitations, they would be banging on the doors of neighborhood financial advisors and insurance agents to buy disability insurance.

That is why the Benefit Review / Disability Income Audit is a proven technique to open the door to new clients and prospects. Less than half of the American Workforce has Coverage through and Employer. Less than 10% even have adequate coverage combined with the benefits offered by an Employer.

That equals a large opportunity for insurance and financial advisors!

Why buy leads you know that data - social networking and casual conversation can open all the doors you need by changing your vocabulary and asking a client - When was the last time you examined the benefits offered by your current employer? Have you ever reviewed how your Group Disability Insurance Program works? After all, the ability to earn and generate an income is the largest asset an individual under age 50 has. We should be having discussions regularly to review that risk and protect it with a disability income insurance product.

Another strategy for Financial Advisors and Insurance starts with Multi-Generational Planning. 66% of children fire their family's financial advisor after the death of parent. What are doing to get in front of the children? This next conversation starter is a way to get to the next generation.

Let's talk about a risk to your client's portfolio and assets that no one has probably addressed. What would happen if one of your adult children became ill or injured? Would they come to Bank of Parent's for assistance? Would you feel obligated to take care of your children financially if they were sick or injured?

Let's start the conversation with the next generation by asking your clients if they could provide an introduction to review their children's group benefits and income protection strategy! This way, if something happens to the children - it doesn't put the parent's assets at risk.

We've seen several cases were parents provide financial assistance to their children to make sure they have adequate coverage in the event of an illness or injury.

Another growing area of sales has come from children in graduate and doctorate programs. Many insusrers offer select professional programs where students can start purchasing disability insurance before they even have income. Why? Insurance Carriers know that certain occupations yield high income producing benefits and those occupations serve an opporuntiy. If you'd like to know more about insuring children in college, contact your DIPG Brokerage Consultant. With so many students taking out student loans - there is a real risk if you become incapacitatd even for a short period of time, and you will quickly find yourself behind the proverbial 8-ball.

The last strategy to open up doors is by getting in front of HR administrators and Businessowners to talk about establishing a list-bill program for employees to Buy-Up and enhance their Group LTD benefits.For more on the topic, read our blog post on Establishing a Voluntary Buy-Up Plan.

These strategies alone can help you quickly gain new clients - by talking with the Professionals at Disability Income Protection Group we can help you gain the confidence you need and assist with Disability Insurance Reviews!

22 views0 comments

Recent Posts

See All

Reasons for Evaluating Disability Income Insurance

Here is a list of reasons why individuals and business owners take action when considering disability income insurance. Disability Insurance (DI) is seldom a topic a client or prospect will ask about.

What is a Residual Rider?

This rider can be one of the most valuable riders attached to a policy. It determines a payout based on a partial disability vs. a total disability. From a look at claims, the majority of disabilities


bottom of page