When designing an insurance program for business succession, sophisticated advisors understand the significance of securing Buy/Sell or Key Person life insurance. But they often neglect securing equivalent disability coverage, which of course is a greater risk.
But what about painful underwriting? Many advisors avoid Buy/Sell and Key Person Disability for the reason that traditional disability underwriting can become an enormous headache. Traditional carriers have lower limits, stringent medical guidelines, and puzzling financial requirements that make securing sufficient limits of Key Person Disability or Buy/Sell Disability coverage tricky if not impossible.
Securing this coverage with Exceptional Risk Advisors, a Lloyd's of London Coverholder, is
quite the opposite and can help an advisor enhance their relationships with HIGH NET-WORTH business
owners. Exceptional Risk Advisors has the ability to underwrite large disability exposures using the same information and exam required for the life underwriting, allowing advisors to secure high limit disability coverage by simply obtaining an additional application. On top of that, advisors typically earn more commission in the first three years of the disability sale than in the initial year of the life insurance placement.
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