Disability Insurance: We Have A Checklist For That!

Disability insurance is an integral part of any portfolio. Should your clients suffer an illness or injury that prevents them from returning to work, disability insurance protects their income. All too often, however, disability insurance is secondary to other insurances. 

Why Add Disability Insurance? 

Disability insurance is effective because the benefits help address financial fears and distress. Unfortunately, however, many clients lack adequate coverage to defend against the risk of disability. 

The “What Issues Should I Consider When Purchasing Disability Insurance?” checklist tees up the talking points around this critical topic. Integrate the checklist into your process to cover the following considerations with your clients: 

• Short- and long-term needs.
• Federal benefits.
• Group and individual coverage options.
• Important features and variables.
• Tax implications.

Why Use The Checklist?

The “What Issues Should I Consider When Purchasing Disability Insurance?” checklist is broad, but it helps you frame conversations about disability coverage. Additionally, the checklist will help you guide your clients through coordinating employer-provided and individual coverage with Social Security. Supporting your clients through this exercise will mitigate your clients’ long- and short-term risks. 

A bonus is that you can document the conversations in the client record. You’ll ensure that you’ve addressed your clients’ needs and recorded their decisions and rationale. 

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