What Are We Selling? Livelihood Insurance

Livelihood. That's the word we've been missing--from our conversations, from our marketing material. The painful phrase, "Disability Insurance" is a double-whammy. Who wants to talk about being disabled? It's almost as bad as talking about insurance. The Life Insurance and Health Insurance businesses were smart enough to avoid their real areas of concern: death and doctor visits, respectively. After all, the benefits paid out on those policies don't even pay the insured. Life Insurance proceeds pay a death benefit to the insured's heirs, trust, or foundation. Health Insurance proceeds pay the doctor, the hospital, the anesthesiologist, the nurses, etc., but never pay the actual client. There is a reason these product are not named after the benefit eligibility trigger. Instead, they are named for what they protect. Think about it. Life Insurance protects your finances if you lose your...life. Health Insurance protects your finances if you lose your...health. Disability Insurance protects your finances if you lose your...disability? No! Livelihood Insurance protects you if you lose your livelihood. We've tried to reinvent Disability Insurance as a number of different things before. Nothing truly stuck. Income protection, paycheck insurance, mortgage defense, and probably a dozen other whacky permutations of the same basic idea. At the end of the day we are striving to do one core thing: Replace income and protect our client's livelihood. I challenge you to reframe the conversation and start selling the thing people have wanted all along--Livelihood Insurance.