When it comes to achieving our goals of financial security, we are our own best friends – or more likely, our own worst enemies. It seems the average American is not setting aside enough money to achieve their financial objectives, let alone protect what they already have.
While the need for income protection is apparent, the majority of Americans have not purchased individual Disability Income insurance due to the misconception that it is too expensive.
As a financial advisor it’s your job to let clients know there are simple, affordable solutions to fit just about every need and budget. Ask your clients to think about the amount they may spend on a daily cup of premium store-bought coffee? A date night each month? A monthly cable bill? Movie rentals? For the amount of money they spend on these discretionary activities, they could work towards insuring their income.
Some clients may think they are saving money by delaying the purchase of Individual DI Insurance. But reality is that most DI policies allow clients to lock in an affordable premium – much lower than that of someone who waits, assuming he or she is even insurable at an older age.
Talk to your clients about income protection today. Through careful planning and follow-through, achieving financial security and protecting a lifestyle and dreams for the future are well within reach. Need tips on how to start the conversation? Contact your DI Specialist today.