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 DI For Sales Professionals
The Often Overlooked Commission & Bonus Income
by Anthony Delvecchio
Group LTD may not cover commission or bonus income. Berkshire's ProVider Plus disability insurance policy protects commission and bonus income.
 Physicians get it. Surgeons get it. Dentists get it. Unfortunately in my experience the sales professional doesn’t see the importance of a comprehensive disability insurance policy. The most common response I get is “if I can talk I can work.” That may not be the case. What if an illness drains your energy? What if back pain is so unbearable you can not get out of bed, or you need to take a very strong medication just to deal with the pain? What happens when you can no longer travel to meet with potential clients? The financial nightmare that can follow a commission driven salesman who is unable to earn an income can be devastating, and potentially irreversible.
Most sales professionals base a large amount of their income on commissions and bonuses. If they are unable to perform at a high level they are not going to make the money they need to sustain their lifestyles. I am one of these people, and I know in my career if I can not perform for two days because of a cold I have to get back to work as soon as possible. Now imagine you are unable to work for an extended period of time due to an illness or injury. Now what happens? How long does it take to rebuild? When do you start making what you were previously earning? A long term disability is going to hurt almost everyone in any occupation. In some of those occupations when you are healthy enough to go back to work your income begins were it left off, or it could take a longer period of time to rebuild your income to the level it was prior to disability.
I truly believe however that what I do is not selling; it is educating my clients so they realize how important the disability insurance product is. A good disability policy is going to replace approximately 60% of your income if you are unable to work in your occupation. If an accident or illness prevents you from doing what you do best, a disability insurance policy can replace a percentage of your income each month to help you maintain your lifestyle.
Berkshire Life Insurance Company’s ProVider Plus disability insurance policy pays a recovery benefit for up to the entire benefit period through the residual disability benefit rider. To be eligible for benefits, you must have at least a 15% loss of income due to a disability. That means, you can be completely recovered from a disability and at work full time and still be eligible to receive benefits from this policy as long as you have a loss of income of 15% due to sickness or injury. You can receive a residual benefit for as long as you qualify throughout the benefit period. If you never get back to what you were making prior to disability, the ProVider Plus policy will continue to pay residual disability benefits because there is a loss of income.
Let me ask you something, if you were out of work for 6 months or more, how long do you think it would take to make what you were making prior to disability? For most I would say at least six months, probably more if you put some extra thought into it. Imagine the stress on yourself and your family if you purchased a policy based on price, it paid you while you were out for six months, but now since you are healthy and back at work it is no longer paying benefits. Are you going to show up at work and start making money immediately? If so, how much are you earning? The same amount as before? More than likely we are in the same boat and would be starting over. This is why the best and only policy for you is the ProVider Plus policy offered by Berkshire Life.
I hope this article opened your eyes a little bit on the importance of owning a policy that fits who you are and what you do. Not many people can do what we do and be successful at it. It takes time and hard work. We understand the commission driven world and the pitfalls that can suddenly put a stop to your uphill climb. There is a policy out there that not only helps you back on the road but back on at the same speed.
Disability income products underwritten and issued by Berkshire Life Insurance Company of America, Pittsfield, MA, a wholly owned stock subsidiary of The Guardian Life Insurance Company of America (Guardian), New York, NY, or provided by Guardian. Product provisions and features may vary from state to state. This publication provides an overview of some, but not all of the provisions of the policy. This publication does not modify the provisions of any policy. Please consult with your broker for complete details pertaining to the policy provisions described herein.
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