The leading cause of foreclosure and bankruptcy is disability, yet most people do not have a disability insurance policy or enough coverage to replace their monthly incomes in the event that disaster strikes.
The right candidate for personal disability insurance is anyone who does not have enough income coming in through passive investments to pay financial obligations in case of disability.
Your clients might think they are covered through their employer, but while many companies do provide long-term disability (LTD) insurance, there are issues with group LTD coverage, including:
An Individual Disability insurance policy can help clients that do not have a disability policy now, who need better coverage due to a restrictive own occ definition or who are underinsured due to benefit limitations or taxation issues with their group LTD plan. Orion can help you identify these needs and can provide you with the best quality disability coverage available.
The leverage of premium dollars in a disability policy is truly amazing. A $100 monthly premium can literally protect hundreds of thousands of dollars in income. There is no investment or savings tool that can give that sort of return to your clients instantly. You can tell your clients that 1-2 percent of their income today can protect the other 98-99 percent for the rest of their working life.
Ask you client the following: