When we say “Life Insurance” or “Long Term Care” you may think about your parents or grandparents getting old and at the end of life. These titles don’t necessarily manifest images that clients cannot identify with. But when we hear “Disability Insurance” one of the first things that comes to mind is the old man that double parks in the handicap spot at the grocery store and then fumbles with his walker and slowly stumbles into the store. I don’t know why it is, but the phrase seems to bring images that are unrealistic and the words themselves seem to turn prospects off to discussing the possibility.
I have learned to change my approach to addressing this most valuable coverage as “Income Protection” or “Paycheck Security” … I’m sure there are other great ways to rephrase to avoid the adverse response that “Disability Insurance” sometimes provokes. By using the phrase “Income Protection” a prospect doesn’t have the chance to dwell on an image of a handicapped person struggling to get through the door but on their specific ability to earn an income and how to protect it. The reason physicians, dentists, attorneys, etc. are the biggest consumers of Income Protection policies is because they see people that are disabled regularly as part of their professions. It is much easier to deny that there is a chance of becoming disabled and be unable to earn an income than accept that the possibility is real and address the risk by procuring Insurance. The statistics are abundant and clear that most Americans would be greatly affected if they were unable to earn an income and their spouses and children suffer along side. Income Protection Planning should stand right next to Financial Planning for without income all of the planning could be for naught.
To see how Income Protection could fit into your business, contact The Fortify Insurance Group for a free consultation or customized proposal/comparison.