I know that my Blog went quiet as the holidays approached. I felt that with our big fall push, the sales, marketing and continuing education meeting in November and the opportunities presented by the Prudential multi-life “fire sale” enough was said and anything else would just be a distraction. Apparently I was right! The last three months of 2008 proved to be our best quarter in quite sometime. While many of my colleagues were crying the blues a number of you grabbed the twin gauntlets of LTCi sales simplification and multi-life to upgrade your income opportunities. For that, Susan, the marketing staff and I thank you. Your efforts have validated our long-standing belief that consumers will buy long-term care insurance if you make it part of your overall effort to help them protect their income and assets from the many risks that they face.
Here’s what we’ve learned in last the last few months:
The easiest way to open new sales opportunities is to ask a simple question each and every time you see a client or new prospect; “Do you have long-term care insurance?” This uncomplicated query has sold more long-term care insurance in the past few months than even I can believe.
You can simplify the long-term care insurance sales presentation. As more of you subscribe to our Pool of Money Calculator, and use it, clients get the concept and you sell more. The Calculator is the logical beginning to simple and straightforward explanation of the value proposition of long-term care insurance.
Our field tested sales presentations help any agent, novice or expert, take the basic concept of The Calculator and make a concise and cogent argument to consumers about why long-term care planning and long-term care insurance are important.
Multi-life long-term care insurance streamlines the underwriting process that can be so vexing when LTCi is sold on an individual basis. More sales are made to morepeople more easily. You know what that means? More income for you.
And despite the national angst and anxiety over the economy many consumers are acting to protect what’s left of their retirement income and assets against the financial ravages of an unplanned for long-term care event. One thing has become crystal clear to most; they cannot rely solely on their investments or home equity to pay for their long-term care. Long-term care insurance makes sense and is even more important to people who are planning for an uncertain retirement future. All agents and financial planners need to do is ask the questionand provide the best answers to their clients.
My upcoming Blogs will focus on the sales opportunities ahead of us in 2009 and beyond. We have many. They will include:
More multi-life LTCi and bigger and better sales. We have the markets and the ways for you to make long-term care insurance an employer sponsored reality. Small and large employer groups can design LTCi benefit offerings that fit their budgets and provide significant benefits.
Linked products will be the buzz of the industry. These will include life + LTCi andannuity + LTCi combos. Each, along with traditional long-term care insurance, will be suitable based on the client’s position in life, their resources and inclinations. The sales process will be the same; the product solutions will vary. You will want to catch my article(s) in January issue of Broker World on the topic of life + LTCi combos and next month on annuity + LTCi combos. There will be a great deal of action and opportunity in this arena. Get ready for some fun and profit. (If you don’t receive BW, email me at barry@paradigmins.com and I’ll email you a copy).
We have an Inauguration Day Special Webinar (that’s for January 20th for those of you not paying attention). Give Susan and me an hour and we’ll help you lock onto the hottest opportunities in long-term care insurance for 2009; at least the ones we know about by the 20th! REGISTER TODAY! We know who’s there which means we also know who’s not. Your only excuse is if you are attending an inaugural ball in D.C.
Let me just say again it has been great working with all of you over the past year; that includes old friends and new. We made great progress in LTCi sales in 2008 and plan to keep the momentum moving forward. We appreciate efforts now let’s go get ‘em.
Happy New Year! Here’s to a great 2009.