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Sales Training - LTC 101
Consumers
Family
When a family member needs care, of course, someone will pitch in. That’s how we care for each other.
A good Long Term Care plan moves the family from “obligation” to “voluntary.” The effect on family dynamics is staggering. Insurance does not exclude the family from participation in their loved one’s care; an insurance plan protects the family from the burden of obligation.
Finance
You have probably read about, or perhaps even experienced, the high cost of Long Term Care services. I will not attempt to motivate you with frightening statistics. Yes, Long Term Care services with home care or in a facility such as assisted living can cost $50,000 to $100,000 or more, depending on where you live and your choices for care. Market Watch provides a useful summary of costs and services on this link: Market Watch Picks.
Government
First, Medicare. Their printed material and online information are clear. Medicare does not pay for Long Term Care. Check the link provided for more details on Long Term Care coverage.
Medi-Cal / Medicaid
Medi-Cal in California and Medicaid in most other states can cover Long Term Care costs IF you qualify as financially needy. And those who can qualify should take advantage of what is available to them. The bottom line is that a government agency, meaning the taxpayers, will be making the decisions about your care—where the care services are delivered, by whom, and when and how much.
To avoid burdening the family and improve your affordability of Long Term Care services, please consider planning for your future with a Long Term Care policy. I would be honored to help.
Insurance Agents
“Keeping Your Clients Close”
Can you afford to send your clients out to do their own shopping for Long Term Care insurance? By referring your clients to me, you remain “Insurance Central” to them. Protect your own practice and your clients by referring them to a Long Term Care insurance specialist who has no other agenda. I gladly accept referrals. I offer commission splits if your firm allows it (current LTCi CE required).
Many agents specialize in one or more lines of insurance. Long Term Care insurance is not often one of those lines, and then there is the extra continuing education.
The bigger risk is this: Your clients ask about Long Term Care planning, and you agree that it’s a good idea for them to look into it. If you do not work with them directly or you do not have a trusted specialist to refer them to, you risk that they are prospected by the agent that they end up with.
I help you “Keep Your Clients Close” by protecting you from that risk. I do not take advantage of the referral by recommending any product line other than the one for which the referral is made.
“Ask me about the three ways that we can work together to “Keep Your Clients Close.”
Thank you for your referrals.
Attorneys
Family Law
The more complicated the family connections, the more important Long Term Care planning may be. Conditions such as blended families, special needs children, and divorce virtually demand more planning.
Long Term Care planning can solve at least one future risk that could be complicated with one of many family law concerns.
Estate Planning
You are the influencer for the protection of the estate. Will there be sufficient assets in the client’s estate for their wishes if the financial risk of Long Term Care is not transferred to an insurance company? Will the heirs, including non-profits, be left with much less of the estate than originally planned?
Personal Injury
The unfortunate incident that brought your client to you may have family members worried about their financial future. It may be too late for your client, but the family may understand the value of a Long Term Care plan for themselves.
Thank you for your referrals.
Financial Advisors
The assets under management ARE your clients’ Long Term Care plan until you help them transfer the risk.
Let me help you remain “Financial Central” to your clients. You do not need to be an expert in Long Term Care planning. You need a trusted specialist to partner with.
To “Keep Your Clients Close,” it’s important to limit their exposure to competing agents, especially when online. When I work with your clients, I emphasize that you are their Financial Advisor and that my role is limited to this area of risk. I also respect your recommendations concerning premium payment sources (income vs. asset).
The end result is this:
- You are still “Financial Central” to your clients;
- You have protected the assets under management from the future cost of care;
- You have been instrumental in their obtaining this vital coverage.
The loyalty to the Financial Advisor who connects them to Long Term Care insurance increases by at least 500%, studies have shown.
See the Sales Training section if you are interested in improving your own Long Term Care insurance sales.
Thank you for your referrals.
CPAs
As you review your clients’ healthcare-related deductions, asking specifically about Long Term Care premiums often results in a variety of questions or objections:
- What’s that
- We’re too young for that
- We don’t need that
- Do you think I should have that?
And many more.
You may be the one influencer to make a difference by bringing this up. You could be the reason that a client puts coverage in place and benefits from the coverage someday.
Thank you for your referrals.
Sales Training – LTC 101
Improve your own Long Term Care sales and marketing! Launching in 2022—training for the agent/advisor!
From 2000 to 2017, I enjoyed a successful career as a Long Term Care insurance wholesaler for a prominent Long Term Care insurance company. Day after day, year after year, I trained financial advisors and insurance agents in marketing and then selling products to their clients and prospects. I also participated in their client appointments and did a lot of public speaking on their behalf. In some cases, the producers incorporated my coaching into their practices for ultimate independence, and others chose to depend on me on an ongoing basis.
As I continue to connect with financial advisors and agents, I realize how much I enjoyed that part of my Long Term Care career and how much the training made a difference to the agents and to their clients. And I miss it enough to offer financial advisors and insurance agents training, starting in 2022!
Some training options:
- Review the requirements and benefits of training (single appointment, complimentary)
- Present outline of a sales and marketing plan for their own implementation to producers and staff (two-hour minimum appointment, price TBD)
- Short-term program to assist implementation of sales and marketing program (3-month minimum, price TBD)
- Ongoing coaching and monitoring of sales and marketing program with producer and staff (monthly appointment, price TBD)
- Customized programs available