Online:
Visits:
Stories:
Profile image
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Tale of Two DI’s: Part 2

Monday, February 13, 2017 7:26
% of readers think this story is Fact. Add your two cents.

(Before It's News)

In Part 1, we discussed the case of a neurologist who had some quirky ideas about both disability and homeowner’s insurance. As one might imagine, I’m still waiting to hear back from him (but not holding my breath, nor particularly bothered that I haven’t). I also promised to share the tale of another client who was also looking for this type of coverage at about the same time, and the very different tack that story took.

And so here ’tis:

Ted is a barber, and a long-time client (life and health insurance). He came to me recently because he thought it’d be a good idea to have some disability insurance in case he had to miss work due to an illness or injury. Of course, being self-employed means that this is particularly important. I did my usual pre-screen (just to make sure things were more or less the same health-wise) and confirmed his income. There are several carriers that do well in this market, but the plan design I got from Illinois Mutual was really top-notch. For one thing, they offer a special occupation class “bump” for folks in Ted’s position, which meant he could qualify for more coverage at a reduced rate.

He qualified for about $2,000 a month of coverage, at a cost of about $65 per month. That was a good deal, but he was concerned about what would happen if he had a bad month (or three) and couldn’t swing the premium. I explained that he didn’t have to apply for the full amount; a lower amount would be more affordable, and since I like to include a guaranteed insurability rider on plans I sell, he can always bump that up down the road, regardless of his health at the time. As I often do with clients, I urged him not to let ‘the perfect’ be the enemy of ‘the good.’

He liked that. A lot.

So we settled on $1,200 a month benefit, with a $43 per month premium, completed an application, and the policy was approved in under a week (which is fantastic!). It was in my hands a few days later for delivery and review.

So here we have someone who understands both the need for this kind of coverage, and the value of a professional, independent agent who can help guide one through the process (not to mention a great carrier that was happy to work with me on getting appropriate quotes).

Nice.

Original content copyright © InsureBlog


Source: http://insureblog.blogspot.com/2017/02/tale-of-two-dis-part-2.html

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories
 

Featured

 

Top Global

 

Top Alternative

 

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.