Many young professionals are in need of individual disability income (DI) insurance, but they may not know it. In an article in the 2019 March/April issue of Advisor Today, Chris Coy, regional director with The Standard, shares three important points you can use to start the conversation about Individual disability income insurance with your clients.
Young professionals have made substantial investments in their careers. Professionals beginning their careers in fields that require extensive schooling and advanced degrees, or who have a high potential for above-average earnings over their lifetime, have already made a significant investment in their future by the time they reach their mid to late 20s. Many are likely carrying large student loan debts and don’t have much savings. For these individuals, protecting future income is important to ensure they can maintain their lifestyles and pay off loans in the event of a disability that leaves them unable to work for a period of time.