How to Generate Sales in a Pandemic Environment

August 12, 2020

Working during a pandemic has required most of us to eliminate in-person meetings. In this “new normal,” it can be harder to identify and develop new prospects.

One possible key to success during this time? Stick with the familiar.

Talk with your current customers to make sure their income protection plans are up to date and that they cover all eligible employees at their income levels.

And when you’re seeking new opportunities, look for employers who are familiar with guaranteed standard issue individual disability insurance. The best targets may be those with existing in-force IDI coverage with another carrier. You may discover that they’re open to switching to The Standard if we provide a better fit from a coverage and price perspective.

Optimize your in-force block.

Keeping your in-force block up to date is one way to keep your clients happy — and increase your first-year commissions. Make sure The Standard has added new hires and newly eligible employees to plans.   

An annual review is an important way to keep your in-force block healthy. Make sure to get a current census from the employer for The Standard to review. We can increase coverage for employees whose pay has gone up, capture missed additions and remove terminated employees. This is also the perfect time to evaluate case designs for possible plan-wide coverage increases or enhancements.

But there’s no need to wait until the next annual review. Check in with your customers throughout the year to ensure additions and terminations are reflected in their plans.

With your help, employers can protect their employees’ incomes to their target income replacement percentages. Regular check-ins will help you keep a pulse on your client relationships and decide how best to enhance their benefits packages.

Find prospects with existing GSI plans.

Employers who already have GSI with another carrier understand the value of GSI coverage. Offer to conduct a disability insurance review. Make sure their plan provides appropriate income protection for high earners. The Standard may offer enhanced features, more competitive pricing and better customer service.

Here are some ways The Standard stands out:

Own Occupation Definition of Total Disability. Do your clients want coverage for employees that will still pay benefits if they can’t perform the substantial and material duties of their regular occupation but choose to work in another job? When comparing carriers, read the contract language carefully. Ensure you’re offering the own occupation definition of total disability your clients want. The Standard offers true specialty own occupation as well as modified own occupation definitions of total disability. Some carriers offer own occupation coverage that, on closer look, is actually modified own occ. See Not All Own Occs Are Created Equal.

Family Care Benefit.1 The Standard also stands out with the Family Care Benefit. This feature pays policyowners a benefit if they lose at least 20% income while taking time from work to care for a loved one with a serious health condition. Employees don’t have to choose between taking care of a family member or earning their full income.

Competitive Pricing. On top of these plan features, The Standard offers competitively priced plans and a commitment to unparalleled customer service.

Your prospects and clients may find The Standard to be the right choice.

We’re here to help you sell.

Please reach out to your GSI account manager for help with your existing blocks of business. Or contact your GSI regional director to help with carrier comparisons and proposals to help capture new business.

1 The Family Care Benefit is not available in California, Connecticut or New York.