Fill Income Coverage Gaps for Highly Compensated Executives/Partners/Principals and Sell More Life Insurance
Speakers: Dana Mikstay
Year: 2016
Body of Knowledge:
Product,
Key Person (Life and DI)
Competence: Sales |
Level: Advanced |
Session Rating: 4.51
Group disability insurance covers only a small percentage of total income for executives/physicians/law partners. Working with the CEO or CFO, we layer a portable, guaranteed disability program on top of the group plan. The benefits of this offering:• Portable• Guaranteed• Not offset at time of claim• Provides recurring revenue for the producer• No medical exam requiredBenefits of this offering to Dana:1. Program makes up 30% of Dana's total revenue2. Provides recurring revenue 3. Gives Dana access to high income/high net worth executives who then become prospects for life insurance.The average revenue for 10-15 lives is $50K-$80K in the first year.The program is simple, doesn't take up a lot of time, and builds a solid pipeline of potential prospects for life insurance, investment advisory services and other needs.