Most people won’t think twice about investing in life, homeowners’ or automobile insurance, but a Life and Health Insurance Foundation for Education (LIFE) survey found that 80 percent of workers do not invest in disability insurance. Insurance policies protect the value of your life, your home and your car, but disability insurance protects your most important asset—your paycheck.
May is Disability Insurance Awareness Month and the perfect time to inform your clients about this essential coverage. Many people understand the basics of disability insurance, but don’t believe it is necessary, especially at a younger age. LIFE provides glimpses into real-life stories of how disability insurance is important—at any age.
As financial advisors, we must not only serve our clients professional needs, but their personal and family needs as well. Financial worries continue at home, so discussing disability insurance with your client is imperative.
Disability coverage has many facets and can cater to individual needs. When discussing this unique type of coverage with your clients, it is essential to focus on three main categories: How much? How quickly? How long?
LIFE’s online insurance calculator and Disability Insurance 101 are valuable resources, providing a detailed overview and calculation tool for those interested in learning more about the benefits of disability insurance.
MDRT can also be a valuable tool to learn more about disability insurance. To learn what some of our members have said, visit the archive of the MDRT/LIFE Web Seminar or new online videos.
