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DI to the MAX! Don’t Leave Your Clients Exposed!

DI to the MAX! Don’t Leave Your Clients Exposed!. by Thomas Petersen, MBA, RHU Petersen International Underwriters.

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DI to the MAX! Don’t Leave Your Clients Exposed!

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  1. DI to the MAX!Don’t Leave Your Clients Exposed! by Thomas Petersen, MBA, RHU Petersen International Underwriters Please contact your local Plus Group office for more information.  Go to www.plusgroupus.com and click on the agency locator map to find an office near you or call 800/831-1018.

  2. What is Disability Insurance For? • Cash Flow? • Replacement percentages are to Stay Alive, not to Thrive! Asset Conservation!

  3. To The Max • Not Enough Coverage • Difficult Occupation • Difficult Avocation • Health Issues • High Net Worth • High Unearned Income • Special Situations • Special Products

  4. To The Max • Not Enough Coverage • Difficult Occupation • Difficult Avocation • Health Issues • High Net Worth • High Unearned Income • Special Situations • Special Products

  5. Show Me the Max!

  6. How Much Disability Coverage is Enough?

  7. How Much? • Various 3rd party surveys – 65% to 75% • Various Industry experts – 50% to 80% • LUTC • RHU • LOMA • The American College • Traditional Group Disability – 60% or 2/3

  8. If 65% is the agreed upon number, why does the primary markets limit the coverage? % Income Issued by Most Carriers 100 75 70 60 50 40 30 20 0 The Need Line 75,000 150,000 300,000 500,000 1,000,000

  9. Not limited to just Personal Disability! • Buy-Sell • Business Overhead Expense • Key PersonWhat are the maximums from most carriers?? Excess Disability

  10. The Buy Sell • Wholesaler Company • Valued at $7,000,000 • 2 Partners • I need $7 million Life and $1,000,000 DI Buy Sell! • The Solution • Excess Buy-Sell Disability

  11. The $100,000 BOE • 1 Doctor – Plastic Surgeon • Clinic, staff, airplane • Monthly overhead $100,000 • Solution - $100,000 BOE

  12. $250,000 Annually • $250,000 Annually • $20,833/month • Traditional = $8,800 (43%) • Need = $13,540! • Excess for $4,740 Just to Stay Alive!

  13. To The Max • Not Enough Coverage • Difficult Occupation • Difficult Avocation • Health Issues • High Net Worth • High Unearned Income • Special Situations • Special Products

  14. I Have a Guy Who….. • Actor

  15. I Have a Guy Who….. • Actor • Pilot

  16. I Have a Guy Who….. • Actor • Pilot • Martial Arts Instructor

  17. I Have a Guy Who….. • Actor • Pilot • Martial Arts Instructor • Oil Rig Fire Fighter

  18. I Have a Guy Who….. • Actor • Pilot • Martial Arts Instructor • Oil Rig Fire Fighter • Athlete

  19. I Have a Guy Who….. • Actor • Pilot • Martial Arts Instructor • Oil Rig Fire Fighter • Athlete • Yacht Crew

  20. I Have a Guy Who….. • Actor • Pilot • Martial Arts Instructor • Oil Rig Fire Fighter • Athlete • Yacht Crew • Teaching Pro

  21. To The Max • Not Enough Coverage • Difficult Occupation • Difficult Avocation • Health Issues • High Net Worth • High Unearned Income • Special Situations • Special Products

  22. A Great Case except….

  23. To The Max • Not Enough Coverage • Difficult Occupation • Difficult Avocation • Health Issues • High Net Worth • High Unearned Income • Special Situations • Special Products

  24. Who CARES About the Occupation?

  25. To The Max • Not Enough Coverage • Difficult Occupation • Difficult Avocation • Health Issues • High Net Worth • High Unearned Income • Special Situations • Special Products

  26. We Build Assets Why Sacrifice Them? • High Net Worth? • High Unearned Income?

  27. To The Max • Not Enough Coverage • Difficult Occupation • Difficult Avocation • Health Issues • High Net Worth • High Unearned Income • Special Situations • Special Products

  28. The $30 Million Man • The problem • 10 lawyer firm • Annual revenue exceeded $30 Million • The Rainmaker! • The Solution • Key Person DI

  29. The College Senior • Age 21 • Philosophy Student • 100mph fastball!

  30. Meet Smith and Jones • Scenario • Dr. Smith (30) wants to buy in to Dr. Jones (60) practice. • Goal – 5 year payments • Problem – What if Dr. Smith doesn’t make it? • What if Dr. Jones Doesn’t make it either? • The Solution – DI Buy-In

  31. And FULL Benefits! • The problem • Company providing a severance package to include salary and benefits! • The Solution • Severance Disability Plan

  32. The Golden Spike • The Problem • 3 Partners in business 20 years • Have DI Buy-Sell • 1 Partner is now 60 • The Solution • The Golden Spike DI Buy Sell to fill in the gaps

  33. DI to the MAX!Don’t Leave Your Clients Exposed! by Thomas Petersen, MBA, RHU Petersen International Underwriters Please contact your local Plus Group office for more information.  Go to www.plusgroupus.com and click on the agency locator map to find an office near you or call 800/831-1018.

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