...Disability Insurance Tips

Hit the Sweet Spot with Guarantee Issue Sales

Selling Guarantee Issue Individual Disability Insurance from The Standard offers big payoffs, including bigger commissions with just one overall sale, less underwriting uncertainty and new leads to sell other products like life insurance. To fast-track your GI success, keep seven insights in mind:

1. Aim for cases of 20 or more lives. "That's the sweet spot where The Standard can give you the best offer possible," says Greg Shumavon, director of Guarantee Issue product and IDI sales operations. "With that spread of risk, we can make a stronger offer on the amount of monthly income we're willing to cover, up to $15,000."

2. Look outside the executive suite. "For example," Shumavon says, "Consider a law firm with 100 employees but only 10 partners. To create a case with 20+ lives, you could open up another class, such as first- and second-year associates, with high enough incomes that they need the additional protection of Guarantee Issue."

3. Focus on companies that have group Long Term Disability (LTD). "The most common use of Guarantee Issue is to supplement LTD," notes Doug Waters, second vice president of Individual Disability Insurance sales. "A company that's already made a decision to buy LTD understands the importance of income protection."

4. Target industries with the most GI sales potential, including legal and accounting practices, engineering firms, technology companies and investment management firms.

5. Give us the full picture to get a better quote. Pick up the phone and talk to our Guarantee Issue sales consultants. They can help you put together the right questions to be prepared for the next conversation with your prospect.

6. Talk directly to our underwriters. "Unlike some carriers, The Standard's underwriters are always willing to get on the phone and talk about an opportunity with you and your Master General Agent," Shumavon says. "A direct conversation can help us fast-track your quote and save you time and hassles."

7. Promote the portability of GI as a recruiting tool. "A benefit that the employee owns can appeal to today's mobile workforce," explains Waters. "Unlike group disability insurance, Guarantee Issue policies are issued to individual employees, so they can keep the coverage if they change jobs."

If you'd like to discuss a potential opportunity, contact your Guarantee Issue sales consultant at The Standard or call 800.992.4446 (800.378.6057 in New York). The Standard's Guarantee Issue team has the expertise and flexibility to help you hit the sweet spot.

Please join Jill Frohardt of The Standard Thursday, August 6, at 11 a.m. Central Time for a short webinar to learn more about Guarantee Issue individual disability income insurance. 

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