The Long Term Care (LTC) is evolving and ready for today’s challenges are you talking with your clients?
Much of the attention has been on Asset Based LTC – so called Life Insurance hybrids, for many the traditional LTC products offer better value.
The Long Term Care Insurance (LTCi) carriers in the market today are strong and ready for business. The rate actions you have seen have been on older blocks of business, written before carriers understood the persistency and how to price LTC. The LTCi carriers today are strong, reliable, and their sales figures are ticking up.
Please keep in mind the following:
- Qualified LTCi plans pay out benefits that are 100% tax free.
- Partnership qualified LTCi plans provide an extra level of estate protection against Medicaid spend down requirements.
- Individual, couples and their families feel much more confident once they have an LTC policy in place
And here is the best news of all:
- If you have a client who has access to a large sum of money to buy an asset based LTC product, the monthly premiums of traditional LTCi plans offer affordable coverage. Your introduction of a conversation about LTC can provide great value to your clients!
LTC provides the financial security to stay in your home, have needed modifications and if needed the safety net of a residential nursing home. Caregiving is expensive and time consuming to families, oftentimes with devastating financial or family relationship consequences when there is no plan to cover the cost of professional support.
Your clients want the conversation, and LeClair Group’s LTC team will ensure you have the support to educate and guide your clients choices.
Our best advice is to lead with discovery, what are their concerns and what is their current plan? Never lead with quotes and product brochures, LTC sales is a process not an event. Once you understand their concerns, reflect their concerns back and agree to work on a plan that addresses what they want.
LeClair Group can partner with you so that you don’t have to have the conversation alone. Our portfolio of traditional and life-based solutions can support all of your clients’ LTC needs.
We have developed a new LTC brochure “For the Love of Family” upload your logo and contact info for printing at a local print shop or download a digital version for sharing on your website or via email.
Call our Long Term Care desk at any time for advice, quoting, illustrations, and direct sales support.
Your clients will feel reassured knowing that they have you to guide them.
“For the Love of Family” is available within the My Advantage Portal, and is available in both digital and print-ready versions for you to brand for your agency. It’s a great idea to have printed copies of this brochure with you during your Medicare enrollment or educational events, since it’s a great opportunity to educate your clients on their need for LTC. Contact Sales@LeClairGroup.com for our recommendations on what local printers to partner with.
Attend LeClair Group’s LTC Partnership certification or refresher course this February in order to be ready to have a compassionate but serious conversation with your clients.
Reach out to Dutch Koop with LeClair Group’s LTC team for assistance. We take a personal interest in every solution for your clients. And want to make you look good in the process.