What’s keeping you from offering your clients disability income insurance? I know a majority of advisors will say it’s the exhaustive/dreaded/lengthy financial and medical underwriting process. If you’ve ever had a policy take more than two months in underwriting, I can see why you’d think twice.
But it doesn’t always have to be so hard! Many advisors don’t realize that most disability carriers offer “simplified” underwriting guidelines, so your client may not require any medical or financial underwriting.
Believe it or not, with simplified underwriting you can get away from those pesky paramed exams, fluid requirements and tax documents. In most cases, all you need is a short application and a telephone interview. The simplified process can significantly reduce the underwriting timeframe – some carriers can have a decision as soon as two days after the telephone interview.
This process does NOT sacrifice any of the riders/features of a fully underwritten policy, and the policy is still individually owned and portable. The benefits at claim time are still tax free when premiums are paid with after-tax dollars.
If your client is under age 50 and looking for a benefit amount of less than $6,000 a month, simplified underwriting options may be available.
Put in Practice: Make your life easier by offering your clients simplified disability underwriting options! Talk with the Ash Brokerage DI team today!
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