Filed Under:Health Insurance, Disability

Business Owners Need Our Help

Life is full of decisions. There aren’t enough hours in the day to accomplish everything, and according to research from Franklin Covey, the vast majority of American workers report feeling overwhelmed. Franklin Covey has capitalized on this trend by developing prioritization tools and techniques to help people tackle one item at a time. But what does all of this mean for financial advisors? This same approach can help your business clients create the financial protection plans they so desperately need.

A 2010 study of business owners by Harris Interactive and The Principal shows business owners rank protecting their business and income as their top financial priorities. Yet, the majority of those surveyed don’t have the necessary protection plans in place. And who can blame them? Day in and day out, business owners are worrying about cash flow, the competition, managing employees and successfully growing their businesses. Fortunately, you can help them realize they need to spend more time working on their business, not just in their business.

Showing the financial impact of not having protection products is very effective. I often share the story of a producer who was given a second chance to do the right thing with clients. After a particularly startling series of messages from the spouse of a big client, he realized he had neglected the importance of income protection. In this particular case, his client was diagnosed with a severe illness and died before needing to worry about the income protection gap in his financial plan. The producer took this opportunity to become an advocate on the importance of life and disability insurance in personal and business planning.

Featured Video

Most Recent Videos

Prospects not listening to voice mail? Arrange a phone date

Provided by LIFEHEALTHPRO

Redesigning your phone life is more important than finding the “best words” for a voice mail in today’s culture.

Behind the scenes with Vicki Gunvalson [VIDEO]

Provided by LIFEHEALTHPRO

In this exclusive interview, Vicki Gunvalson shares how she built a $15 million a year annuity business by planning for...

Regulator: Market may need to reinvent LTCI

Provided by LIFEHEALTHPRO

Cioppa says Maine's governor wants to spur the creation of better products.

Dementia: It's more than Alzheimer's

Provided by LIFEHEALTHPRO

An association calls for policymakers to remember lesser-known neurodegenerative conditions.

Related resources

More Resources

Comments

Power your business with up-to-the-minute insurance news, analysis, and best practices from LifeHealthPro Daily eNewsletter – FREE.

Power your business with LifeHealthPro Daily eNewsletter – FREE.

Enter a valid email address.
Close
Nichole Morford

Nichole Morford
Managing Editor

Thank you for subscribing to LifeHealthPro Daily!

Check Out More eNewsletters Now! Close

Advertisement. Closing in 15 seconds.