According to the American Diabetes Association, 30.3 million people have been diagnosed with diabetes and the numbers continue to rise as generations age, causing a headache for some financial professionals when it comes to locating proper life insurance coverage for their clients. When working with older clients, it can be difficult to find an affordable policy; however, combining that with less than ideal health issues can often create hurdles difficult to overcome.
Insurance producers have the difficult task of getting their clients to think long and hard about topics they may not want to consider. Namely, their eventual passing. However, death is not the only potential risk your clients need to focus on protection against. In fact, based on data, there’s a good chance your clients are better financially prepared for death than they are for disability.
When was the last time you talked with your clients about their financial plan if they were to suddenly become disabled? Disability insurance is reported to be one of the most overlooked types of insurance. If you haven’t discussed it recently with your clients, now is a good time.
Many people view disability as something that happens suddenly, something that happens after car accidents, a disastrous sports injury or a disease that spreads and immobilizes quickly.
Many small business owners could testify to being time-poor, as they spend most of their waking hours thinking about and running their operations. While this is important for business success, owners also need to put some time into thinking about what will happen to the company when they are not around – whether because of retirement, injury or death.