Best LTC Carriers Now

[TriciaS]

The "best" carrier is the one that the client will have inforce if & when they have a claim. That being said, I disagree that LTC has become a "speciality." 80% of my business comes from agents that won't write more than 6 cases a year. Find a good GA that has a LTC team to assist you.

 

[CALTCAgent]

The "best" carrier is the one that the client will have inforce if & when they have a claim.

I have met people at claim time that were unhappy with the policy they had and could have done a lot better had the agent made a better recommendation. If an FMO tells you this, I question that mentality.

That being said, I disagree that LTC has become a "speciality." 80% of my business comes from agents that won't write more than 6 cases a year. Find a good GA that has a LTC team to assist you.

I don't feel marketers at an FMO should be making recommendations on the "best" product for a client, especially without meeting them, that was what "Ctg" was talking about.

I think marketers can be helpful, but "ctg" was talking about deferring almost everything to the marketer, coming back and saying this is the best for you.

FMO's market product to agents.

Who is the FMO?

 

[ltcadviser]

The "best" carrier is the one that the client will have inforce if & when they have a claim.

That is such bullshit. Spoken like a pure marketer. Would you wish your client to have a Bankers Life policy? I would hate to have to file a claim with Bankers if I could have owned a policy with a different company.

 

[ctg]

I don't feel marketers at an FMO should be making recommendations on the "best" product for a client, especially without meeting them, that was what "Ctg" was talking about.

I think marketers can be helpful, but "ctg" was talking about deferring almost everything to the marketer, coming back and saying this is the best for you.

FMO's market product to agents.

Who is the FMO?

I am working through Partner's Advantage and LeClaire Insurance out of Minnesota. As I understand, it's a LTC team at LeClaire. LeClaire has Genworth, John Hancock and MoO for their LTC products. I don't think they are marketers, but who knows if they win a trip for pushing Genworth for example.

I'm new to LTC, but not completely ignorant either. So I'm not looking to defer everything. I do rely on the IMO "LTC team" to help with underwriting. The current case I'm working on had some health issues I wanted to get a good read on before submitting an app.

I prefer to meet with clients face to face before looking into a policy to explain what LTC is and to find out what their needs are (and any medical issues, of course).

Seems to me that I need to expand my network and check with other carriers outside of LeClaire as well. I called the underwriters directly at Gen and MoO and they were very helpful. I'm inclined to believe other carriers would be similar.

I've learned a lot in the few LTC cases I've worked; I know I have a lot more to learn...

 

[CALTCAgent]

I am working through Partner's Advantage and LeClaire Insurance out of Minnesota. As I understand, it's a LTC team at LeClaire. LeClaire has Genworth, John Hancock and MoO for their LTC products. I don't think they are marketers, but who knows if they win a trip for pushing Genworth for example.

They 100% are marketers. They assist with the carriers they represent and possibly one carrier more than another. You said "best" solution before.

I believe Partners Advantage does not do individual LTC, so they "partner" with LeClair and most likely you are going through not 1 but 2 FMO's. Each getting an override.

Not saying this is bad, just understand what it is.

 

[ctg]

You are correct. I think I need to look into other IMO's (or go direct?) so I can better shop policies. Partners and LeClaire have been great, but I'm not obligated to them...

LTC is not a huge part of my business...you have to work for it, but the payday is good.

"Good work...if you can get it." -The Bodeans

 

[jerryrut]

All I’ve ever heard about LTC are horror stories so I avoid it. It seems like the most successful agents find a niche and doggedly pursue that as opposed to chasing all the rabbits.