Article Abstract:
Disability income (DI) reinsurers are taking a proactive stance to improve the DI market. Competition and liberalized underwriting used to capture market share have helped to produce large losses for DI insurers. Additional losses have been produced from the large increase in claims for disorders that include chronic fatigue and carpel tunnel syndrome. Some direct writers of DI policies continue to use questionable underwriting practices, which is leading many DI reinsurers to demand and encourage the use of better underwriting standards.
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Article Abstract:
Companies have to fully understand which components are covered in their distribution service and to whom such service is targeted. These components may include needs and tax assessment, development of a financial plan as well as product education and information management. The value of the service, which is determined by the customer, and the cost of providing the service must be duly assessed. Pricing and packaging of the distribution service also have to be considered.
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Article Abstract:
Blue-collar disability income insurance represents a significant, but widely overlooked, market for insurance agents. The product pays excellent commissions, tend to remain in force, and can lead to other sales opportunities. Blue-collar disability can be mass marketed to small businesses, the economy's fastest-growing segment. Most female workers, who comprise half of the workforce, have no disability income insurance.
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