Executing a successful Guaranteed Standard Issue/Executive Disability Insurance (GSI/XDI) pitch requires a bit of research. The more you know about the candidate company, the better prepared you will be to offer a benefits solution. First, it’s important to understand the company’s benefit goals. Here are some questions you can ask:
· Are they trying to provide competitive benefits?
· Are they trying to increase employee retention?
· Do they want to offer special incentives to key employees?
· Is one of their goals to assist employees in gaining access to benefits they can’t get themselves?
· Finally, does the company want to provide better protection to their highly compensated employees?
Chances are, any good company will respond “yes” to at least one of the above questions—and offering XDI is a great way to fulfill these goals. In a competitive job market, employers who can offer excellent benefits are more likely to keep valuable employees and attract new ones.
Besides simply wanting to enrich an existing benefits program, here are five signs to look for when researching candidate companies:
· They do not currently offer Guaranteed Standard Issue
· They do currently offer disability insurance through a Group LTD plan only
· They currently offer plans in which a number of employees are reaching their Group LTD benefit ceiling
· They currently offer Group LTD plans that face significant rate increases due to plan design
· They have employees earning significant bonuses, commissions, or other uninsured income
Maybe you can think of a growing company that already has a Group LTD plan but might be interested in providing more protection for their higher-compensated employees. Maybe you can think of a company that has the resources but is struggling with employee retention. Think about what any good business owner would want to do for their existing valuable employees. XDI could be the answer.