Short answer
No. The stronger policies are naturally going to cost a bit more than the scaled-back ones. When properly structured policies are all priced pretty close, a major standout on the low end usually means something isn't right with that policy.
A short clip from his webinar for residents and fellows, with captions.
Watch the full webinar from 1:00:40Why the cheaper policy is often cheaper
You don't want to price shop disability insurance. Unfortunately, a lot of agents peel off really important features from policies to give you the impression that they have better prices, or that you can get it for quote unquote cheaper. It's not a good policy if they're sacrificing the integrity of the policy by removing certain features or peeling back certain options.
Too good to be true
If the cost seems too good to be true, it likely is. I'm not going to say every policy is priced exactly the same, but they're all pretty close when they're structured properly. So if there's a major standout on the lower end of the pricing range, chances are something isn't right about that policy.
Compare the wording, not the one-page grid
It takes an insurance company 60 or 80 pages to legally and properly present a policy. It's impossible to accurately compare five different policies from five different companies on a one-page grid. What matters is the wording: the definition of disability and features like the future increase option.
Where Jay covers this
Jump to each moment in his webinars.