Tel:(631) 293.5100 E-mail: mailto:info@dblcenter.com

The DBL Center - Insurance Wholesaler

Niche Insurance Specialist. Your Insurance Wholesaler since 1976

T (631) 293 51 00
Email: Info@dblcenter.com

Niche Insurance Specialist.
155 Pinelawn Road Suite 120S Melville, NY 11747

  • About
    • Our Team
      • David J. Cohen
      • Michael S. Cohen
      • Larry Estridge
      • Lisa Indelli
      • Selena Kutschera
      • Eugene Puleo
      • Annette M. Sperandio
      • Melissa Bilka
      • Bill Quinn
      • Brian Dewey
      • Lori S. Rose
      • Sonja Spruiel
      • Louis Ortiz
    • Why Choose Us
    • DBL Center History
    • In the News
    • Testimonials
  • Disability Insurance
    • Enriched DBL
    • NY State DBL
    • NJ TDB
    • TDI (Hawaii)
  • Ancillary Group Benefits
    • Group Life Insurance / AD&D Coverage
    • Long Term Disability Insurance
    • Dental Benefits
    • Vision Coverage
    • Voluntary Worksite Benefits
      • Life Insurance
      • Disability Income
      • Critical Illness Insurance
      • Accident Insurance
  • Paid Family Leave
    • NY Paid Family Leave
    • Connecticut Paid Family Leave
    • Colorado Paid Family Leave
    • MA Paid Family Medical Leave
    • Paid Leave Oregon: PFMLI
  • Bind DBL / PFL
  • Blog
  • Contact
GETRATES
HERE
  • Home
  • Blog Page
  • Ancillary Benefits
  • Questions to Ask to Find Holes in Your Clients’ Insurance Coverage
March 23, 2023
Dawn Allcot
Tuesday, 24 May 2022 / Published in Ancillary Benefits, Disability Coverage, Enriched DBL

Questions to Ask to Find Holes in Your Clients’ Insurance Coverage

As the statutory insurance industry prepares for July 1 renewals, it’s a good time for insurance brokers to help them identify gaps in coverage that may be filled by ancillary benefits.

The introduction of paid family and medical leave programs in a growing number of states opens new markets to statutory brokers. DBL Center brokers who specialize in short-term disability in New York and New Jersey understand what it’s like to roll out a new benefit program based on experience with New York PFL.

As such, you are uniquely qualified to help your clients with these new benefits in Massachusetts, Connecticut, and beyond. Plus, you have the advantage of the DBL Center’s proprietary Broker Dashboard: Net Revenue Tracker to keep your clients aware of renewals and pending cancellations.

Guiding Your Clients to Enhanced Benefits Packages

As you’re reviewing benefits for third quarter DBL and TDB renewals in July, take some time to ask your clients about their other employee benefits to identify holes in their coverage or areas – especially in regard to executive benefits packages, ancillary benefits, and long-term disability insurance (DI).

You can list some of the most common ancillary benefits and ask your clients if they offer these options to their employees. But it’s better to start a dialogue that discusses their needs.

Questions to Ask

You might start by asking about the demographics of their employees.

  • Do they have mostly older workers who may be thinking about long-term care coverage?
  • Do they have millennial and GenX employees who are anticipating braces for growing children on the horizon and need a good dental and vision package?
  • Do they have Group Life / AD&D coverage that can help attract employees with families?

Then, move on to the specifics of today’s economy:

  • Do their current short-term and long-term disability insurance packages meet their employees’ needs in these times of high inflation?
  • Could stand-alone PFL benefits help New York employers save money on this statutory benefit?
  • In light of PFL and FMLA laws, does the company offer enough in the way of benefits for employees who would never take advantage of these benefits?
  • Can accident insurance and enriched DBL help provide more to employees who don’t have any need for family-related benefits?

Finally, look to the upper level of employees and the business, itself:

  • What about the executives: Are top employees covered well enough in the event of illness or injury?
  • Can the business survive the loss of key employees, either temporarily or permanently?

Once you’ve determined the make-up of the workforce and the business owner’s biggest concerns regarding the future of their business, you can make the best recommendations.

When Cost Is a Factor: How Much Insurance Coverage Can Your Clients Afford?

Of course, budgets are always a consideration when you’re optimizing employee benefits packages. It helps to remind clients that many benefits can be offered as completely voluntary and employee funded, funded by the employer, or on a cost-shared basis.

Having these options allows business owners to deliver competitive benefits without a dent in their bottom line. Even executive packages for life insurance and long-term disability can be written as buy-up coverage, fully funded by the executive with no cost to the company.

Using Paid Family and Medical Benefits as a Doorway to High-Commission Ancillary Benefits

Every quarter also brings new opportunities to write new business and expand your reach as an insurance broker. There is no easier way to get your foot in the door than with statutory benefits that every business owner needs to provide, by law.

DBL in New York and TDB in New Jersey have been on the books for decades. There are always new businesses entering the market in need of coverage. Plus, opportunities to privatize these benefits along with Family Leave Insurance in New Jersey and Paid Family Leave in New York opens doors for brokers.

It all starts with education about the products and presenting your insurance brokerage as an authoritative resource for statutory benefits. That’s where the DBL Center comes in as your back-office staff with the knowledge and experience to write Paid Family Leave in NY and other states now offering family and medical leave benefits.

From there, you can continue to ask the right questions to help benefits supervisors, HR directors and company owners develop the best benefits package to achieve their business goals. Disability insurance is just the beginning. Today’s workforce needs so much more in the way of insurance coverage.

When you pinpoint the holes in your clients’ coverage packages and show them ways they can affordably recruit and retain talent through the benefits today’s businesses and employees need most, they will rely on you as a trusted resource. The time to start is today.

 

 

 

What you can read next

Can a Business Use Disability and Life Insurance to Fund a Buy / Sell Agreement?
Ancillary Benefits: Top 3 Easy Up-sells for Insurance Agents to Earn More Commission
Long-Term Care Insurance: The Next Benefit You Need to Think About
Image
Image
Image
Image

From Our Blog

  • Ancillary Benefits
  • Broker Dashboard
  • Broker Spotlight
  • Business
  • Colorado FAMLI
  • Coronavirus Pandemic
  • CT Paid Family Medical Leave
  • Culture
  • Dental Insurance
  • Disability Coverage
  • Enriched DBL
  • Hawaii TDI
  • Healthcare
  • In the News
  • Insurance
  • Life Insurance
  • long-Term Care insurance
  • Maryland PFML
  • Massachusetts PFMLA
  • News
  • NJ TDB
  • NYS DBL
  • On the Mic with Mike
  • Paid Family Leave
  • Rep Roundtable
  • Technology
  • Vision Coverage
  • Voluntary Worksite Benefits

The Benefits

Learn how DBL Center white glove service can help brokers like you expand your book of business with new clients

LEARN MORE

How it works

Select your carrier, Fill out the forms, Get approved It's that simple! White glove service you & your clients deserve.

LEARN MORE

Bind DBL / PFL

Link your agency today, contact our seamless dedicated support team for additional help or any quotations you may have.

GET STARTED

The D.B.L. Center LTD.
Niche Insurance Specialist
Industry experience since 1976
155 Pinelawn Road
Suite 120S
Melville, NY 11747

Ancillary Benefits
  • Ancillary Group Benefits
  • Group Life Insurance / AD&D Coverage
  • Long Term Disability Insurance
  • Vision Coverage
  • Dental Benefits
Paid Family Leave
  • New York
  • Connecticut
  • Colorado
  • Massachusetts
  • Oregon
Disability Insurance
  • Enriched DBL
  • NY State DBL
  • TDB (NJ)
  • TDI (Hawaii)
Helpful Links
  • Contact Us
  • Blog
  • In the News
  • PFL Calculator – 2023 Rates
  • About The DBL Center Ltd.
  • Our Team
  • Why Choose Us
  • DBL Center History
  • In the News
  • Testimonials
  • Sitemap
  • Privacy Policy
  • Legal

Insurancewholesaler.com All rights reserved 2023. Designed & Developed By Slidesigma.com

TOP