If Arthur can't help you, I will. And you can keep most if not all of the comp depending upon the time involved. I can have you up and running in no time. LTC is fairly easy to learn.
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- Thread starter HuntAssuranceGroup
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If Arthur can't help you, I will. And you can keep most if not all of the comp depending upon the time involved. I can have you up and running in no time. LTC is fairly easy to learn.
- 2,455
Thanks! I will let you know. Very much appreciated.
Hello -
I appreciate LTCAdviser saying that LTC is easy to learn. As a financial advisor, I looked into it for my parents, one who was too old and the other was 79 and healthy enough that I got him standard rates just before he turned 80! Expensive, but I also know that there is no way I could make the premiums paid over 10 years grow to the amount of coverage he would have.
I got my dog certified as a service dog to visit nursing homes, and let me tell you, that's an education in itself. Even the nicest places motivate you to want people you care about to be able to stay in their homes as long as possible, and hearing some have had to move from hours away from their families to be in a decent facility is heartbreaking. Why not do it for your clients if you would do it for your own family?
My question is prospecting LTC cold calls. Most people where I am are not asking about it, and are reluctant to bring it up, feeling they are failing their spouse or family if they spend money on what "family is supposed to do". Is there a way to prospect by cold calling, or do you have to wait to already be in front of someone to get anywhere? I cold call by door knocking on Medicare Supplement plans, and figure that adding "and LTC" is a way to open the conversation, but it seems to hasten the door being closed so far.
Appreciate the advice!
I appreciate LTCAdviser saying that LTC is easy to learn. As a financial advisor, I looked into it for my parents, one who was too old and the other was 79 and healthy enough that I got him standard rates just before he turned 80! Expensive, but I also know that there is no way I could make the premiums paid over 10 years grow to the amount of coverage he would have.
I got my dog certified as a service dog to visit nursing homes, and let me tell you, that's an education in itself. Even the nicest places motivate you to want people you care about to be able to stay in their homes as long as possible, and hearing some have had to move from hours away from their families to be in a decent facility is heartbreaking. Why not do it for your clients if you would do it for your own family?
My question is prospecting LTC cold calls. Most people where I am are not asking about it, and are reluctant to bring it up, feeling they are failing their spouse or family if they spend money on what "family is supposed to do". Is there a way to prospect by cold calling, or do you have to wait to already be in front of someone to get anywhere? I cold call by door knocking on Medicare Supplement plans, and figure that adding "and LTC" is a way to open the conversation, but it seems to hasten the door being closed so far.
Appreciate the advice!
Arthur Rudnick
Guru
- 1,652
originally posted by keepgoing
Here's the problem. I'm going to assume that you're door knocking from some type of 65+ list for Medicare supps.
Probably works for Med-Supps, but with LTC, you don't know anything about that person other than they're at least 65 years old, with many much older.
LTC premiums start to really get out of control for those 60+, forget about 70, 75 & 80 year olds. The other key point is that you have no idea of that person's health and whether they would even qualify for a policy.
I don't believe that there is a viable cross-selling scenario when the only information that you know prior to knocking on a door is that the person inside is 65 or older.
IMO, LTCi prospecting should be focused only on LTC prospects.
Just my 2 cents.
Here's the problem. I'm going to assume that you're door knocking from some type of 65+ list for Medicare supps.
Probably works for Med-Supps, but with LTC, you don't know anything about that person other than they're at least 65 years old, with many much older.
LTC premiums start to really get out of control for those 60+, forget about 70, 75 & 80 year olds. The other key point is that you have no idea of that person's health and whether they would even qualify for a policy.
I don't believe that there is a viable cross-selling scenario when the only information that you know prior to knocking on a door is that the person inside is 65 or older.
IMO, LTCi prospecting should be focused only on LTC prospects.
Just my 2 cents.
Arthur Rudnick
Guru
- 1,652
originally posted by keepgoing
Buying LTCi specific leads is one way to go. That's what I personally do. Some agents use direct mail, some purchase internet leads and others do seminars.
You're a financial advisor. You must have a number of clients that are ages 40-60 that have substantial assets and who would be prime targets for LTCi.
Why not start educating them about LTCi?
Buying LTCi specific leads is one way to go. That's what I personally do. Some agents use direct mail, some purchase internet leads and others do seminars.
You're a financial advisor. You must have a number of clients that are ages 40-60 that have substantial assets and who would be prime targets for LTCi.
Why not start educating them about LTCi?
I recently moved to another firm, and had to leave my clients behind with no contact for at least a year. Have been speaking to the new clients I get, but wanted to make this a major focus and not wait for them to be an investment client to talk to someone about it. I wanted to devote one day a week to prospecting specifically for LTC.
Most places use it as an add-on, after they have their investments with you, and you've gotten them life insurance, it's one more last way to get them to buy something from you at their annual review since they are pretty well set with everything else. I don't see it that way. I feel everyone should have it, and if they are happy with their IRA at the bank, they can still buy LTC from me. Just not sure how to get that across in a cold call.
Most places use it as an add-on, after they have their investments with you, and you've gotten them life insurance, it's one more last way to get them to buy something from you at their annual review since they are pretty well set with everything else. I don't see it that way. I feel everyone should have it, and if they are happy with their IRA at the bank, they can still buy LTC from me. Just not sure how to get that across in a cold call.
Cold calling will never work today for LTCi. 20 years ago it worked before caller ID, internet and cell phones. It will not work today.
he's talking about knocking on doors, jack.
Well, if the teleknocking leads to a MedSupp sale, then why not leverage the relationship and trust to discuss LTC planning. Can't hurt. I would not lead with LTC through teleknocking though.
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