Consider three examples of innovative policy features that have resonated well with customers when purchasing IDI insurance.

1) Extended coverage benefit to care for loved ones.

When a family member or loved one becomes ill, a person can be forced to make a very tough decision: Stay at work and continue earning their full income or take a leave of absence from work to care for their loved one and potentially lose income. In this difficult situation, some may even have to consider taking early retirement, quitting their job or dramatically reducing their working hours. An already emotional and stressful time is now compounded by financial worry.

Time with a loved one is invaluable. IDI policies that offer a compassionate extended coverage option can be a solution to this problem. This feature pays a monthly benefit proportionate to the insured's loss of income if he or she must take time off work to care for a loved one with a serious health condition. It offers peace of mind and reduces financial concern so the individual can focus on providing care for and spending time with his or her loved one during a critical time.

2) Partial disability provision that encourages returning to work.

When a partial disability occurs, individuals are only able to work in a limited capacity, which can adversely impact their paycheck. A partial disability benefit that encourages a return to work can allow an individual to work part-time, rather than having to file for total disability to collect benefits.

Policies that include a partial disability provision can pay benefits for an extended period of time if the disabled insured has a loss of time, duties or income, regardless of the amount of income earned when returning to work. After recovering from the disability, the insured will receive a recovery benefit if he or she continues to have a loss of income due to the sickness or injury that caused the disability.

3) Mental health coverage.

Mental health disorders, such as anxiety, depression and stress, can impact a person's work performance much like a physical issue can. And it's more common than one might think: One in five workers suffers from some level of mental illness, according to the Organization for Economic Cooperation and Development. As a result, organizations are seeing an increase in employee absence. One study from Mental Health America reports depression alone is one of America's most costly illnesses, costing more than $51 billion in absenteeism from work and lost productivity, as well as $26 billion in direct treatment costs.

A key IDI policy feature is one that offers coverage for mental disorders or substance abuse without any special limitations. Many policies put limitations or restrictions on this type of coverage, which reduces the value of the benefit to the customer.

A policy with an extended benefit period and no special limitation on coverage for a variety of mental health issues and disorders—instead of the typical two-year limitation—will add extra value for clients. As mental health issues continue to affect individuals, policies with strong mental health coverage provisions are likely to become more common and more in demand.

A simple, yet effective, way to gain reliability and add value during the sales process and thereafter is taking a personal approach to selling disability insurance. Educate and guide customers along the way, simplify the process and always dig for policy solutions that are flexible, customizable and go above and beyond the necessities.

Steve Brady is the second vice president of individual disability insurance sales and marketing at The Standard. He can be reached at 971-321-8240 or [email protected].