Welcome back from what we hope has been a great summer vacation for you and your family. As you might have happily noticed I took a few months off from my Blog, not because we haven?t been busy with long-term care insurance, but also due to the fact that our son, U. S. Army Captain Ari Fisher, was betrothed in August. For those of you who have been involved in these sorts of family events you know how all consuming they can be.
Despite this, July and August have been our best LTCi submitted and paid months of the year, which is really great for those of you out there presenting long-term care insurance to your prospects and clients. Multi-life sales have been robust and individual sales have followed suit. The agents profiting from this activity have learned a very valuable lesson; if you talk about LTCi, some folks will actually buy. We?ve also learned that the sales methods and systems that we?ve developed and field tested resonate with your clients. They are simple, easy and straightforward; they get the right messages to the right consumer.
But don?t think we?re resting on our recent successes. We?re heading into Q-4 with three specific initiatives as the long awaited rebound in the long-term care insurance industry begins shifting into high gear. These new products and concepts should make it apparent to you that now is the best time to engage in or re-double your efforts in the LTCi sector. In today?s Blog I will provide you with some brief highlights regarding this exciting news and in the coming weeks I will get into the details.
Transamerica Worksite Long-Term Care Insurance Is Back!
No, your eyes are not deceiving you. Through a special agreement with Transamerica Worksite Marketing, BJFIM/Paradigm proudly adds Transamerica Long-Term Care Insurance to its growing portfolio of products and services. Transamerica has re-introduced its individual LTCi product as a worksite offering (even though we can sell it on an individual basis). The magic for TA Worksite long-term care insurance is modified guaranteed issue at 15+ lives. This means you now have an A+ rated alternative in the group LTCi market segment that provides you competitive pricing, individual first year commissions and vested renewal commissions.
More details to follow, but we will be conducting introductory webinars on the Transamerica LTCi programs in the coming weeks; CLICK HERE to register.
Don?t Count Genworth Long-Term Care Insurance Out!
We?re very pleased to announce that Genworth has re-configured its California Long-Term Care Choice product to make it more competitive in this market. As we?ve already announced, Genworth will be rolling out the changes in three separate meetings ? September 17th(Irvine), September 18th (Woodland Hills) and September 19th (Emeryville). These meetings will also feature Buck Stinson, President of Genworth Financial with industry updates. You can register for one of these meetings clicking on this link or contact your BJFIM/Paradigm marketing representative for more details.
For Those Of You Doing Business Outside California We Introduce LifeSecure
LifeSecure, a wholly owned subsidiary of Blue Cross/Blue Shield of Michigan, has introduced an individual long-term care insurance product with features that I?ve been anticipating for a number of years. If you are into sales simplification, LifeSecure is a product you will want to consider:
- Instead of purchasing a daily benefit, the insured chooses a benefit ?bank? of between $75,000 to $1,000,000.
- The monthly benefit is either 1%, 2% or 3% of chosen benefit bank.
- 90-day calendar day elimination period is the only choice.
- 3% or 5% automatic compound inflation protection benefits are available.
LifeSecure has also created illustration software that allows the agent to tailor a policy based on the client?s budget; a money-purchase function so to speak. Additionally, applications can be completed on the broker?s laptop and transmitted directly to the insurance company using a voice signature function. Multi-life is also on its way.
If you are selling long-term care insurance outside of California, LifeSecure is a product you will want to consider for your clients. The product is pending approval in California and I?ll keep you posted on the progress. We will be conducting webinars on LifeSecure in late September or early October so stay tuned. In the meantime, if you have any questions, please contact me directly by email, barry@paradigmins.com,
We look forward to working with you in Q-4 and beyond.
Uhhh…absolutely very useful for me. Thank you very much, GREAT!!!