Disability Claim

Description

Those of you marketing disability insurance today will no doubt agree that our choices in competitive contracts have significantly changed and diminished in number during the past 5-8 years. The days of the 1980â??s give-aways have disappeared. The industry has turned to â??guaranteed renewableâ? forms of policies and away from the â??noncanâ? policies we once relied upon to market. From a contractual aspect, â??return to workâ? incentives have become new buzzwords within policy design, and most companies have abandoned the once heralded guarantee of â??specialty definitionsâ?. â??Work-site marketingâ? has become the new thing! My, has this business changed! To better understand what our industry has lived through, I need to take you back to the 1970â??s, which I view as the â??building and competitive periodâ? of the disability insurance business. Disability insurance carriers, mostly in the brokerage arena, focused on product features to compete against each other.

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