Most advisors we work don’t typically have a client base that will fall into this category. But there is the occasional instance when a client isn’t in as secure a financial situation as they (or you) would like, and there are more times than not when they have a family member or friend who says they’ll turn to SSDI in the event of a disability event.

But facts are facts, and they’re not in favor of these individuals.

Three major factors are to blame for these issues:

There isn’t enough to go around. There are too many people and not enough money.

• The Social Security Administration’s (SSA) budget has remained stagnant since 2010.
• There are more than 7 million more people receiving SSDI benefits (even with baby boomers reaching retirement age.)

Many Americans simply could not survive without an income stream for two years. During this wait for SSDI, the individual is unable to work. And the losses mount.

It’s no surprise that, while LLIS’s disability experts evaluate each of your clients’ distinct situations, they usually recommend some type of individual DI policy, even if they have a group policy through work or think they would apply for SSDI. Why add an individual policy to a group one and/or SSDI? One word: Protection.

• Income stream
• Lifestyle
• Assets
• Peace of mind

This chart shows the distinctions between employer group and individual DI policies.

The problem is also the solution: not enough people have protected their income with disability insurance. 
In fact, 51 million working Americans are facing a growing crisis: a lack of adequate disability insurance coverage to protect them in case of illness, injury, or pregnancy. That's equivalent to the populations of Florida and Texas combined.¹

Most of your clients probably couldn't survive on $1,700 (the largest possible SSDI monthly payment) or on a group policy’s 60% max of their pre-disability income.

And we can help you help them understand that. We have website tools and two DI specialists at your service.

Kathy Bilodeau | Brian Ciccarelli | https://llis.com/advisors/advisor-tools | https://llis.com/clients/client-tools

¹ American Council of Life Insurers