We recently interviewed Aflac disability insurance agent James Sarantis of Eugene, Oregon, who shares his views on the need for disability insurance, market trends and successful insurance sales in a troubled market.

Q: Why sell disability insurance?

A: Disability insurance is a great product because it gives people the added security of a steady income if they happen to become disabled or unable to work. Statistically, more than 40 percent of people over the age of 40 will experience some type of disability. So at some point in their lives, almost half older population could really use disability insurance. There's definitely a need. 

Q: What indicators do you look for in terms of trends in the insurance market?

A: When it comes to what we look for, disability insurance is sort of a niche market, and we have to look at supply and demand. A lot of employers provide some insurance but they don't usual provide long-term disability. This is a trend we watch. Also we watch national policies, like universal health care, to see how it could affect disability insurance.

Q. How does the market affect your target audience?

A. We typically market to the employers, so even if the economy is bad the employers usually still retain us as supplemental insurance, even if they have to lay off employees. Unlike other types of insurance the premium shifts based on the number of enrolled employees, which is a good selling point.

Q: Are there advantages to purchasing a disability insurance policy separate from a person's primary insurance? In other words, why wouldn't people just add long-term disability to their existing policy?

Yes there are a few advantages. First, if purchased separately, your disability goes with you as you change jobs. Second, you are paid each day you are disabled, whether you are employed at the time or not. In many cases, only certain types of short-term disability are offered, depending on each state's requirements.

Q. How do you stay informed?

A. I read the insurance publications, the publications from the state for local trends, and the disability insurance magazines. I also check out the Aflac website and other sites for news and updates on trends and stocks.

Q. How does the market affect disability insurance sales?

A. While some markets may be drastically affected by swings in the market, some markets actually improve, and it seems disability insurance is one of those markets. We would always choose a good a better market over a poor one because people naturally have more expendable cash and are more comfortable with supplemental coverage. And the ones that are living paycheck to paycheck may think twice about having a monthly insurance deduction. But either way, we can show a need for disability insurance in any economy.

Q. So despite the economy, sales for disability insurance seem to stay the same. But it's the tack or stance you take that changes?

A. Yeah, we approach it differently. Especially the way it applies to the individual. We try not to sell, but rather educate people on what their policies do and do not cover, and try to fill that gap.

For more information on disability insurance, as well as tips on saving money and choosing the right policy, visit the Insurance Information Institute at www.iii.org or the Aflac website at www.aflac.com.

We recently interviewed Aflac disability insurance agent James Sarantis of Eugene, Oregon, who shares his views on the need for disability insurance, market trends and successful insurance sales in a troubled market.

Q: Why sell disability insurance?

A: Disability insurance is a great product because it gives people the added security of a steady income if they happen to become disabled or unable to work. Statistically, more than 40 percent of people over the age of 40 will experience some type of disability. So at some point in their lives, almost half older population could really use disability insurance. There's definitely a need. 

Q: What indicators do you look for in terms of trends in the insurance market?

A: When it comes to what we look for, disability insurance is sort of a niche market, and we have to look at supply and demand. A lot of employers provide some insurance but they don't usual provide long-term disability. This is a trend we watch. Also we watch national policies, like universal health care, to see how it could affect disability insurance.

Q. How does the market affect your target audience?

A. We typically market to the employers, so even if the economy is bad the employers usually still retain us as supplemental insurance, even if they have to lay off employees. Unlike other types of insurance the premium shifts based on the number of enrolled employees, which is a good selling point.

Q: Are there advantages to purchasing a disability insurance policy separate from a person's primary insurance? In other words, why wouldn't people just add long-term disability to their existing policy?

Yes there are a few advantages. First, if purchased separately, your disability goes with you as you change jobs. Second, you are paid each day you are disabled, whether you are employed at the time or not. In many cases, only certain types of short-term disability are offered, depending on each state's requirements.

Q. How do you stay informed?

A. I read the insurance publications, the publications from the state for local trends, and the disability insurance magazines. I also check out the Aflac website and other sites for news and updates on trends and stocks.

Q. How does the market affect disability insurance sales?

A. While some markets may be drastically affected by swings in the market, some markets actually improve, and it seems disability insurance is one of those markets. We would always choose a good a better market over a poor one because people naturally have more expendable cash and are more comfortable with supplemental coverage. And the ones that are living paycheck to paycheck may think twice about having a monthly insurance deduction. But either way, we can show a need for disability insurance in any economy.

Q. So despite the economy, sales for disability insurance seem to stay the same. But it's the tack or stance you take that changes?

A. Yeah, we approach it differently. Especially the way it applies to the individual. We try not to sell, but rather educate people on what their policies do and do not cover, and try to fill that gap.

For more information on disability insurance, as well as tips on saving money and choosing the right policy, visit the Insurance Information Institute at www.iii.org or the Aflac website at www.aflac.com.