Tell A Story – Sell LTC

Getting your clients to talk about Long-Term Care (LTC) can be very challenging.  Many clients don’t believe that it will happen to them.  They are under the impression they will not be among the 70% of Americans who need LTC at some point in their life.

So how do you get people interested and talking?  The answer is simple, tell a story.

Here are some tips on storytelling to get people interested in LTC:
  • Talk about your own experiences – this adds personal and emotional value
  • Use stories from others – discuss their challenges and how they overcame them
  • Express your emotions – explain how the situation made you feel, or how others felt
  • Make sure it is relevant to your audience – if a potential client doesn’t have children, do not talk about how difficult an LTC situation is on the kids
  • Don’t try too hard – people know when you are lying just to get a sale
  • Keep it positive – don’t scare prospective clients with horror stories, educate them on the benefits of LTC
  • Short and sweet is key – keep your clients interested by only focusing on important details
  • Encourage discussion – ask questions and open up the dialogue to get potential clients involved and let them share their stories

The main goal of storytelling is to get prospective clients to visualize themselves needing LTC at some point, how great they will be taken care of, and how costs will be covered.

For more information please contact your LTC Specialist today!

How To Breakthrough The Couple Rejection Objection

As you’ve all experienced, the majority of your clients who are couples come together as a packaged deal.  So what happens when a couple applies for a Long-Term Care Insurance (LTCi) policy and only one is approved?

In most cases, the spouse who received the green light may no longer want a policy with a carrier who rejected coverage for their significant other.  And even worse, they may decide that they no longer need coverage at all.

The reality is – if one spouse is declined, it is even more crucial that the insurable spouse has a plan in place.

Convincing the insurable spouse to proceed with the plan

Client Objection:  “My spouse was declined so I do not want to take my policy.”

In this case, it is probable that the healthier partner will attempt to care for the other – with whatever financial, physical, emotional and mental demands that are required.

Your Reply:  “Caring for a loved one could either be met with minimum effort or it may be very strenuous.  And while personally caring for your significant other, you may have do to dip into your savings, leaving little funding left for your own care.”

You Ask:  “Would you be ready to go it alone and take care of all those new tasks that arise in a situation like that?”

Once you’ve overcome the objections, we will help you make certain your clients have the right LTCi plan in place to meet their needs.

Contact your LTCi Sales Rep for more information.

5 Steps To Building Your LTCi Business Plan

Developing a plan for an entire year can be a daunting task.  With so many days ahead of you, it’s easy to get sidetracked and let a few months of inactivity slip and sabotage your success.  It’s time to take a more disciplined approach.

Stay Motivated All Year

Be sure to write down your business plan and place it where you’ll see it each day.  Also set up a repeating calendar entry each week to review the plan and the work you’ve done to achieve it.

“Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” ― Abraham Lincoln

Start small and focus on building a plan with measurable and achievable goals.

Set Goals
  • Be Realistic – It may sound great if your goal is to increase your Long-Term Care (LTC) Insurance business, but you might be setting yourself up for failure.  Instead commit to making LTC Insurance more fully integrated into your business.
  • Make Them Measurable – Numbers don’t lie, so use them to make yourself accountable.  Pinpoint a certain number of applications you’d like to write, client meetings you’d like to host, or referrals you’d like to gain.
Create A Plan
  • Develop A Strategy – Now that your goals are in place, how will you reach them?  Create actionable items to focus on throughout the year.  Maybe it’s simply making LTC Insurance a part of every financial planning discussion you have or it’s committing to hosting quarterly education seminars in your community.
  • Target Completion Dates – Having monthly or quarterly milestones are a great way to track success, and provides you with ample time to plan ahead.
Take Action
  • Get Motivated – Your business plan may seem foolproof, but won’t work if you don’t put it into action.  Begin each day with a task to help you meet a specific goal.  You’ll build momentum to keep you focused and productive.
  • Commit To Your Plan – You’ve positioned yourself for success and have taken the time to establish specific goals, strategies, and deadlines.  Stick to your plan and give it a chance to work
Track Results
  • Self-Evaluate – Are you ahead of your goals or are you falling behind?  Regularly reviewing your progress will provide you with direction on how to focus going forward.
  • Make Adjustments – You may find that one approach works, and another does not.  Being flexible will allow you to change strategies to achieve overall success.

We’re here to help – reach out to our Long-Term Care Associate for assistance with your planning.

Cross Selling Long-Term Care Insurance

There are numerous people you know that need Long-Term Care (LTC) Insurance, many of them include your current clients.  Perhaps you have already sold them a Life Insurance Policy, yet how do you get them interested in LTC?

Cross Selling can be difficult, yet when you present your client with information about LTC, they should understand the benefit of protecting themselves when they may need it.

Begin by talking about the consequences of living a long life will have on their family – and offer to put together a plan to protect them from the biggest risk they face after retirement – one that must be protected with Long-Term Care Insurance.

Once the conversation is going, a few good questions to ask include:
  • What percentage of your retirement assets have you set aside to pay for Long-Term Care services?
  • Are you concerned about the impact a chronic illness would have on your retirement savings?
  • If it were necessary to increase your spending by $3,000 or $4,000 a month to pay for LTC services, would that concern you?

To learn more about incorporating Long-Term Care into your product portfolio, or if you need more prospecting tips, contact your LTC Specialist today!

Home Is Where The Heart (And Sale) Is

When you approach clients about Long-Term Care Insurance (LTCi), be sure to ask where and how they would like to receive care should the need arise some day.  Chances are, they’ll want to stay at home.

65% of long-term care is provided in the home – either in the home of the person receiving care or at a family member’s home.

Many people visualize long-term care as uprooting to a nursing facility – but plans allow for 100% of the benefits to be paid at home, allowing clients to stay with loved ones in an environment they’re used to.

Highlight the home care benefits that are automatically included in the coverage

Doing so is a smart and effective way to show you are listening and are able to provide solutions that fit their needs.

If your clients are like most people, they find it hard to imagine moving out of the comfort of their own house for help with daily living activities like bathing, getting dressed, and eating.  By emphasizing these at-home benefits, you’ll appeal to your clients’ desire to maintain their independence and quality of life, while increasing your potential for a successful sale.

We’re here to help you design a plan that is both affordable and the best solution for your clients’ needs – contact your LTCi Sales Rep for guidance.