...Disability Insurance Tips

How To Increase Your Sales in the Lucrative Business Owner Market

The small business owner market accounts for a significant share of the United States' economic production. Small business owners are a perfect target market for individual disability income insurance because they are approachable, vulnerable and determined to return to work. There is a very good chance that nobody else is talking to them¹ about disability insurance, which leaves an open market for you.

The key to selling to them is to help them overcome their perception of invincibility. Once you are able to do that, you can help them understand the value of disability insurance and introduce them to The Standard's comprehensive business protection products, including disability income insurance, disability overhead insurance and disability buy/sell funding insurance.

Expand Awareness
Some disability insurance customers, like physicians and attorneys, are well educated about the importance of disability insurance, and tend to want the strongest definitions and maximum amount of coverage possible. With business owners, on the other hand, it's best to start small and grow from there.

The key to the disability insurance sale with this market is to help owners understand their vulnerability and understand why they need the protection in the first place.

Many people underestimate their risk of disability. But there are illuminating facts you can share. While injuries are typically perceived to cause many disabilities, they actually represent less than 5 percent of diagnoses for new Social Security Disability Insurance awards. Diseases of the musculoskeletal system and connective tissue, by a large margin, continue to be the leading cause of new disability claims. And, cancer remains the second leading cause of new disability claims.

To help you tap into this market, The Standard has resources to help you learn more about the business owner market and tools to reach out to business owners about disability insurance. View Business Owner Resources...

Please join Jill Frohardt of The Standard this Thursday, June 25, at 11 a.m. Central Time for a short webinar to learn more about best practices with this target market. Register Here...

1  A 2012 LIMRA study showed only 18 percent carry business disability insurance and among those that do, half reported using it as a way of providing income replacement for the owner, partner, stockholder or executive. LIMRA, Small World: Trends in the U.S. Business
Market, March 2012.
2 The 2011 Council for Disability Awareness Long-Term Disability Claims Review

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