It is true that niche products are rarely primary considerations for the basic coverage needs of your clientele, as the policies tend to be less robust in term length and hold more renewability limitations than standard insurances. But, when an obvious solution isn’t readily available or when additional coverage is needed, but not allowed, or at least heavily limited by your usual carriers, niche-product lines can ultimately serve your clients very well and succinctly fill-in the glaringly dangerous holes in their life and disability benefits.
Millions of Americans, your prospects, face these insurance roadblocks, and insurance companies keep them from purchasing the financial protection they so need. And for that reason, the specialty, niche markets flourish and are worth exploring.
So now you are finding solutions for cases you thought were “dead in the water”. The niche markets will make you a hero and won’t send you back to your clients empty handed even if you have a client who works on oil rigs, has a history of depression, plays professional football or suffers from rheumatoid arthritis. Niche life and health products are the “yes men” in a room full of suspicious naysayers. It’s a very exciting aspect of the insurance industry, and can make you a fortune helping your clients. No matter how hard you work, no matter how many hours you put into a case, a declination of coverage doesn’t pay a commission.
Email Jarad@dibcompanies.com
Key Person Failure to Survive
Often times what stops firms from securing proper insurance coverage on their key people is the sometimes difficult and time consuming process of applying for coverage. Additionally the plan design is excellent for those who are having trouble finding coverage from traditional insurance carriers. With no medical exam required, this plan can issue the Key Person Asset Protection Insurance Plan normally within 24 hours of the application submission.
Keep your clients financially secure with the Key Person Failure to Survive Plan.
Business Loan Failure to Survive
This unique insurance protection was designed to indemnify a lender for the balance of money at risk given a contractual business loan agreement. A premature death or disablement of the borrower will usually trigger an immediate call on the loan. The protection of other business assets becomes even more essential during this type of situation.
Often times there is a desperate need for urgency when dealing with a loan approval and the funding of the loan. Time is always of the essence and unfortunately insurance protection is often times left unattended until the very end.
Confidential Failure to Survive
Your client may find themselves with a financial interest in a third party business associate, who is not insured in their favor. If an untimely death or disability were to happen to the uninsured third party, your client could face a significant financial setback. This type of insurance coverage is commonly used for venture capital deals, movie productions, talent managers and business agents where an individual has a contractual financial interest in a third party. In order to keep the policy confidential and uncomplicated there is no need for a medical examination and the application process is quick and concise.
Buy-Sell Failure to Survive
Any business with two or more owners should seriously consider having a buy-sell agreement in place. Once the buy-sell agreement has been established then there is the important need to provide a mechanism for funding the transfer of ownership. It is the unexpected situation of a pre-mature death or disability which normally is the cause for alarm. The firm’s assets are at risk and it is the job of the Buy-Sell Failure to Survive Plan to provide a solution to this situation.
Kidnap and Ransom
Imagine the overwhelming feeling of relief and sheer joy that you would feel upon the release of a kidnap victim. Now imagine the subsequent stress that would follow the realization that you are not insured in case of a kidnapping or ransom request. Your company or family had to liquidate ALL assets to pay the large ransom, purchase specialized phone equipment, pay for travel expenses, hire security protection, hire a negotiator, and pay many more unforeseen costs. In addition, to rejoin society, the kidnap victim may need extensive psychiatric counseling and rehabilitation. This financial trouble could be avoided with Kidnap and Ransom Insurance coverage.
A Kidnap and Ransom Insurance policy owner can apply for coverage to protect against a financial loss caused by a kidnapping or extortion—coverage up to their personal or corporate net worth. If a claim is made, the Kidnap Insurance policy owner will be responsible for coming up with the initial money to provide the kidnappers. After the money has been paid, they can then submit a claim to be reimbursed for the expenses. We even provide Ransom Insurance to cover lost ransom money, should the delivery go wrong.
One of the most beneficial parts of the Kidnap and Ransom Insurance plan is the unlimited expenses for the Crisis Response Team. This Team has worldwide knowledge about negotiations in each specific location and is highly trained to deal with kidnappings, ransom requests, and extortion plots.
No one expects to have to recover—emotionally or financially—from the trauma of a kidnapping of a colleague or loved one. But should the situation arise, you will be relieved to know you have coverage.
Brand Protection
It doesn’t matter whether it’s an athlete, an entertainer or someone just famous for being famous; if you want to raise a brand’s profile quickly, hiring a celebrity is a proven way to do so. However, fame can sometimes turn into notoriety. The media always seeks to uncover celebrity details, and what is exposed is not always flattering. Death, Disability, and Disgrace coverage provides support for brands that use celebrities or spokespeople to endorse and publicize their products or services. In the event of the brand being brought into disrepute, the policy provides up to an agreed sum, enabling the brand managers to recover costs and expenses of the insured campaign.
Physicians and Surgeons Disability
Physicians & Surgeons Disability Insurance Plan was designed to provide men and women working in the medical field with proper levels of income protection. This plan allows medical professionals to maintain their standards of living in the event that an injury or illness leaves them unable to work. With issue limits as high as $150,000 per month (or more) and participation limits up to 75% for personal income protection and as much as 100% coverage for business uses, our Physician and Surgeons Disability Insurance Plan will provide adequate levels of disability benefits to keep your clients properly covered.
Dentist Disability Insurance
The Dentists Disability Insurance Plan was designed with the understanding that dentistry is a specialty occupation and, therefore, those working in the dental trades often need high limit disability Insurance. Unfortunately, because this is usually a highly compensated line of work, dentists often find it difficult to obtain sufficient amounts of disability insurance from traditional carriers.
Disability insurance is the cornerstone of a secure financial plan. A disability resulting in your client’s inability to return to work would be financially ruinous if sufficient insurance coverage is not in place. The Dentists Disability Insurance Plan to provide men and women working in the dental profession with the amount of income coverage they require.
This plan allows dentist professionals to maintain their standard of living in the event that a disability leaves them unable to work. With issue limits of $100,000 per month (or more) and participation limits up to 75% for personal disability and 100% for business uses, our Dentists Disability Insurance Plan will provide your clients proper income replacement.
In the event of an accident or debilitating disease, our Dentists Disability Insurance plan will keep your clients safe.
Chiropractors Disability Insurance Plan
Specifically designed for people in the medical field of chiropractic care, the Chiropractors Disability Insurance Plan recognizes the coverage needs of people in this specialized occupation. Traditional insurance markets often leave highly compensated Chiropractors without adequate disability insurance. Sufficient DI coverage is one of the most important pieces of a secure financial plan. A disability resulting in the inability to return to work could cause financial ruin; being underinsured is almost as dangerous as having no insurance.
The Chiropractors Disability Insurance Plan allows Chiropractors to continue living comfortably in case a disability leaves them unable to work. With issue limits as high as $100,000 per month and participation limits up to 75% for personal disability and 100% for business uses, our Chiropractors Disability Insurance Plan will offer proper income protection for your clients.
This plan may be used as:
- Primary Coverage
- Excess / Supplemental Coverage
- Special Risk Coverage
- Domestic Coverage
- International Coverage