Clearing the DI sales hurdle
Disability insurance isn’t the sexiest or most lucrative offering in an insurance advisor’s lineup. The policies have a lot of moving parts, clauses and conditions, a lot of clients are already insured and there are no large ticket sales if you’re selling to the average middle class client. But DI is an important part of the puzzle for anyone who makes a point of offering holistic advice.
Pitching disability coverage
Picture this: You have a client—10 years away from retirement—who comes to you for retirement advice. You spend several hours, maybe a full day with him, going over many different retirement scenarios.
DI discussion checklist
Do your clients have adequate protection in the event they become ill and unable to work? If not, now may be the time to initiate a discussion with them about owning an individual disability insurance policy. Let them know where their coverage may be lacking if they are part of a group policy. Use this checklist as a script to cover the bases when talking about disability insurance to clients.
Sid the Kid holds $20 million DI policy
Imagine being forced into early retirement due to bodily injury—at the age of 24. For most Canadians, this would be a nightmare scenario, as few have disability insurance at that age, let alone for a sufficient amount to last them the rest of their lives.
Advice for hockey players
What do NHL all-stars Jarome Iginla, Nik Antropov and Eric Staal have in common, besides their barrel-thick necks and numbers on a jersey? They need advice. And grooming players for a life post-hockey is wealth advisor Stew Gavin’s latest trick.
Insurance for HNW clients: Putting a claim through
Insurance brokers resolve challenges in claims for high-net-worth clients with a combination of clear communication and attention to detail. Life insurance claims present fewer challenges than long-term disability claims.
The proper coverage
It’s one of those questions that keeps clients up at night: if my partner gets seriously ill, how can I pay the extra health care costs? Most people have the luxury of time to address this issue, but seniors don’t. They are living longer lives—many with chronic health conditions—that make insurance a wise investment in their future.
Succeeding your practice
It’s rare for advisors to have a written succession plan, which is strange because advisors who work with business owners generally take a hand with helping those clients put their plans in place.