Here's a great technique for advancing the sale of long-term
care (LTC) insurance with your clients. Once you have identified the need for LTC
planning and have presented options to your client, try using this strategy.
"Mrs. Client, with this insurance you can make one of two
miscalculations..
1.
You can purchase the
coverage, pay premiums throught the years, live a good long life.. and then die
without needing the care. Actually, this is not so bad. Except you've lost out
on the opportunity cost of the capital (premiums that could have been invested
elsewhere)... OR
2.
You don't plan for LTC
(you don't purchase a policy) and you end up needing care services. In this
scenario, I see many families face real emotional and financial hardships
because they have not planned for a care event. They do what they can, but
there's no easy solutions.. and assets can be drained down.
So I guess this really comes down to: which one of these
scenarios would you consider more painful?"
·
If your client chooses
the second option, sale complete.
·
If your client should
happen to choose the first option, then it's time to consider flipping over to
a hybrid life/LTC solution
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