"One in four individuals around the age of 20 will become disabled before reaching age 65."
During Disability Insurance Awareness Month (DIAM), I've noticed many posts emphasizing the negative statistics around disability. However, every month is DIAM for me where I engage in meaningful conversations about disability insurance on a daily basis. This negative framing can lead to fear-based selling, and I am an advocate to change the narrative.
When I began my career in financial services, I used similar negative language only to realize that it is not effective. Now as a Disability Insurance Specialist at my firm, I have the opportunity to educate advisors both within and outside our firm on how to change the conversation surrounding disability insurance. My goal is to reframe the conversation; we should talk about disability insurance as part of (1) asset protection and (2) income continuation plan through a positive lens. We are in the business of providing solutions. Let’s emphasize the benefits of Disability Insurance as an essential element of holistic financial planning—a crucial component of your client's financial strategy.
Shift the Conversation:
Instead of talking about protection against disability, focus on protection for income. Move away from scare tactics! Let's emphasize how disability insurance offers stability. For example, say, 'We are implementing disability insurance to help you maintain stability,' rather than 'We are implementing disability insurance so you don’t lose your house, retirement, etc.' With disability insurance, you are safeguarding your financial plan; you are protecting your assets from potential liquidation in the event you are ill or injured. Advisors should avoid direct, fear-based questions like: "What would you do if you were sick or injured and couldn’t work? How would your life look?" Instead, start with a statement to engage them, such as: 'I am concerned that your income protection plan may be incomplete, let's discuss the importance of understanding and confirming your plans to ensure your financial strategy is well-rounded and secure."
If you're interested in changing the conversation around disability insurance and want to communicate its importance to your clients without resorting to fear-based tactics, send me a message. Let’s talk more about making a positive impact together!
For more insightful reads, stay tuned to Milo Minutes! A one-minute read for Financial Advisors and Insurance Agents where I guide you through the insurance landscape and share stories about the common challenges my Brokers face and the problem-solving services I provide to give the best solutions for their clients.
2024-177117 Exp 6/2026
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