The Power of Positivity in Disability Insurance Conversations with Clients

Words are incredibly powerful. In discussions about disability insurance especially, the words a financial advisor chooses can make or break potential relationships. But the average American consumes roughly 34 gigabytes of content and is exposed to 100,000 words each day. So how can financial advisors ensure their words are cutting through the clutter and conveying the right message?  

Language that is designed to inspire a purchase decision or is overly sales-focused has been proven to breed skepticism and distrust in a client’s mind. Sometimes advisors will ask clients to imagine a scenario in which they have defaulted on mortgage payments or have to tap into their retirement savings to make ends meet. While this exercise may be rooted in good intentions, there are better ways to encourage clients to think about why they should consider the possibility of needing certain products, like disability insurance (DI).

People are emotional beings, and individuals often inject their feelings into interpretations of what others say. Traditionally, the language used to sell products like DI has been very focused on the what-ifs of not being adequately insured. Today’s consumers are more informed than ever and are quite empowered to make well-informed decisions due to the wealth of free information available at their fingertips. They prefer a financial advisor who is focused on positivity and taking a benefits-based approach, as opposed to one that pushes a product under the guise of protecting them from life’s uncertainties. 

3 Places to Position Positivity When Talking About Disability Insurance 

When it comes to talking with clients about insurance products, DI specifically, it can be somewhat challenging to steer the conversation away from negativity. Remember, your clients need help navigating the complicated and confusing marketplace — they aren’t expecting a one-sentence answer or one-product solution. Respect their desire to learn and highlight the benefits of disability insurance in three key areas:

1. Income protection. Forget talking about protection against a disability. Instead, focus on phrasing DI as income insurance. People depend on their income - not the off chance they may become disabled - so it makes sense that clients prefer the definition “income protection,” instead of disability insurance.
2. Complementary coverage. Disability coverage is still one of the most ignored insurance coverages out there despite the fact that 1-in-3 women and 1-in-4 men will have a disability that keeps them out of work for 90 days or more at some point during their working lifetime. In fact, 1-in-8 workers will become disabled for five years or more during their working careers, yet 69 percent of workers in the private sector don’t have private long-term disability insurance. Many assume their workers’ compensation will cover disability costs and gaps. However, less than 5 percent of disabling accidents and illnesses are work related. Connecting disability insurance to other forms of insurance that clients already value, and presenting DI as part of a well-balanced income protection plan can help overcome negative perceptions.
3. Ensuring financial stability. Instead of asking your clients to imagine a situation that threatens their livelihood, reframe your conversation in a positive light, highlighting the benefits that disability insurance would provide and the ways it could maintain a stable lifestyle in the event of a disability.

The right language used the right way can show clients that you understand their reality and that you’re capable of developing a financial strategy that works for their needs. So, before every client meeting or conversation, remind yourself that the words you choose have the power to close deals, but also lose them. For additional insights on how to have the right types of conversations with your clients, read ChFC®, CFP®,  CLU® - Which is Right For You?