Steve Brady — who is national accounts sales director at The Standard in Portland, Ore.— recalls a group of ship pilots who work the waters of Puget Sound. Their employer's agent proposed individual disability insurance, with guaranteed issue, as a voluntary addition to group disability coverage.
"Of the 55 pilots, 53 signed up for individual disability coverage," Brady says. "The agent who wrote the policies has that business, as well as 53 new files of people who are high-income earners and may be interested in his other offerings, including life insurance and other products."
That's just one example of the increasing popularity of disability insurance, which is both growing as a product in its own right and as a stepping stone to other offerings.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
