Has Anybody Worked for LTC Financial Partners?

[ltcadviser]

Just to be clear, being independent does not change the health status of an applicant. You statement shows that either 1) you assume it does or 2) you have the demeanor of a brat.

You are missing the point entirely. Everyone in the world has some type of health issue. A good agent will be able to analyze the health hx, and get the application approved. You need more experience, not better leads or being independent. Or maybe you can only write a guaranteed issue product. Or as my old John Hancock General Agent once said after an agent quit: "some people are just meant to work in a business where their name is written on their shirt"

 

[CALTCAgent]

The dnqs seem to outnumber qualified clients. Leads dry up with lack of placed policies. The independent route seems the best way to go.

The LTCFP system is flawed. This is exactly what I had been saying all along.


You will still have Does not qualify as an independent and it is only getting tougher.

Their lead system is flawed!

It will not work, IMO.

 

[ltcadviser]

Their lead system is flawed!

It will not work, IMO.

Why do you feel that way? I promise you the leads that are produced are real people looking into long term care insurance. Just because their compensation to agents is low; and just because they have restrictive relationships with certain underwriters does not mean the leads produced are not good leads.

I have an application in underwriting with Transamerica right now. The gentleman has recovered from cancer. He called me after working with an LTCFP agent. The LTCFP agent applied him to United Security only. He was approved. He did not take the United Security offer. I pre-qualified him with Transamerica. Sent path report to UW. Big difference in company strength between Transamerica and United Security. Just an example as to why it is not always the lead that is bad.

 

[CALTCAgent]

Why do you feel that way? I promise you the leads that are produced are real people looking into long term care insurance. Just because their compensation to agents is low; and just because they have restrictive relationships with certain underwriters does not mean the leads produced are not good leads.

I just think they won't give you as many as they say they will. These outfits typically hire more agents than they can or want to produce leads for.

They certainly won't put anything in writing about the leads.

I have an application in underwriting with Transamerica right now. The gentleman has recovered from cancer. He called me after working with an LTCFP agent. The LTCFP agent applied him to United Security only. He was approved. He did not take the United Security offer. I pre-qualified him with Transamerica. Sent path report to UW. Big difference in company strength between Transamerica and United Security. Just an example as to why it is not always the lead that is bad

Plus United Security is only a short term plan?

If Transamerica offers coverage, then maybe this could be a problem at LTCFP ?

 

[ltcadviser]

I just think they won't give you as many as they say they will. These outfits typically hire more agents than they can or want to produce leads for.

They certainly won't put anything in writing about the leads.





Plus United Security is only a short term plan?

If Transamerica offers coverage, then maybe this could be a problem at LTCFP ?

My gut instinct is there might be very good agents there, and inexperienced agents. Either way, there is nothing wrong with their lead program. All of my business comes from leads and I have a ton of business. An agent either writes business or the agent doesn't write business.

Agents need to know LTC underwriting backwards and forwards or they will waste a lot of time snd energy.

An agent also needs to contact underwriters before submitting the app, pre-qualify the client, write a good cover letter, properly prepare the client for adverse outcomes; explain to the client at point of application what underwriters want to see, etc.

Hoping and praying will not get an LTC app approved. Hoping and praying is for parents of soldiers.

 

[CALTCAgent]

My gut instinct is there might be very good agents there, and inexperienced agents. Either way, there is nothing wrong with their lead program. All of my business comes from leads and I have a ton of business. An agent either writes business or the agent doesn't write business.

With their system, in another post, someone said you must make 4 sales out of every 25 leads. So, 1 out of every 6 leads must result in a sale. Or no more leads.

You also only get 25 a month. Not the makings for a living wage.

We must factor in Declined & not taken applications. So lets say 80% of submitted applications are sales.

This means we need to take an application on 1 out of every 5 leads.

I'd think it would be easy to not hit that ratio. Have a tough batch or various other things that can go wrong. Especially for a new agent.

Someone also said you pay for your own leads. So I must pay for my own leads, always close 1 out of 5 of them, or have them stop.

Oh yeah, nothing is in writing and these rules are subject to change based on management discretion.

I call it a flawed system.

 

[Mackaroo]

With their system, in another post, someone said you must make 4 sales out of every 25 leads. So, 1 out of every 6 leads must result in a sale. Or no more leads.

You also only get 25 a month. Not the makings for a living wage.

We must factor in Declined & not taken applications. So lets say 80% of submitted applications are sales.

This means we need to take an application on 1 out of every 5 leads.

I'd think it would be easy to not hit that ratio. Have a tough batch or various other things that can go wrong. Especially for a new agent.

Someone also said you pay for your own leads. So I must pay for my own leads, always close 1 out of 5 of them, or have them stop.

Oh yeah, nothing is in writing and these rules are subject to change based on management discretion.

I call it a flawed system.

I agree. I have been observing that there are more dnq medical than there were in years past. By dnq I mean leads I pre-qualify and determine it is not worth submitting an application PLUS clients I pre qualify, submit an app and it comes back declined often for reasons the client did not previously reveal. Possible explanations for the increase in dnqs are stricter underwriting, and a greater proportion of sicker people sending in cards.
Going independent to me means I will not be concentrating on LTC as much as I will be doing fact finders to discover all the client's needs. I will probably buy Med Supp leads to get in the door. It is a given that referrals are vital.
I appreciate the information and support I get from my peers here in this forum. We are in a difficult, often lonely business and it is comforting as well as helpful to give and take this support. Snarkiness, such as suggesting some agents need to work at jobs requiring nametags, reflect very poorly on those making the snarky statements. I wonder what motivates those posts; it is certainly not helpfulness.

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I am new to this forum - but it is rather confusing - how will being independent influence your ability to sell? Perhaps better way to go would be to tap people who sell for help & training? Leads, as any resource - are not cheap, and the company like LTCFP has to ration based on what can be recouped. You'd do well to see what lead costs look like. There are people at LTCFP who buy these same leads and do quite well.

I am guessing that you are an officer with LTCFP. Do you have statistics showing lead efficiency over time? In other words, how has lead efficiency changed over the years with LTCFP? This would be very useful information for us to make career decisions on.

 

[ltcadviser]

Going independent to me means I will not be concentrating on LTC

Snarkiness, such as suggesting some agents need to work at jobs requiring nametags, reflect very poorly on those making the snarky statements. I wonder what motivates those posts; it is certainly not helpfulness.

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Again, you've missed my points. It is not the lead that is the problem. Going independent will not solve the problem. You might benefit from staying with LTCFP. You might simply need to receive good mentoring; or change your sales process. Maybe you feel you are doing nothing wrong, but maybe if you receive mentoring or help with your process you will see a greater percentage of closed business. I do not have any idea as to how your process works. I do know that I receive similar types of "leads." I also know I have a ton of business in underwriting now. Going independent will allow you to receive a higher payout; but if your process is broken it will not matter. If LTCFP is not helping you with your process then maybe you should find a mentor that can help you.

 

[CALTCAgent]

Possible explanations for the increase in dnqs are stricter underwriting

You are correct.

I appreciate the information and support I get from my peers here in this forum. We are in a difficult, often lonely business and it is comforting as well as helpful to give and take this support. Snarkiness, such as suggesting some agents need to work at jobs requiring nametags, reflect very poorly on those making the snarky statements.

Very well said!

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and a greater proportion of sicker people sending in cards.

Are these direct mail or PPC?

Because you said cards. The internet guys are talking about PPC leads.

If you are talking about direct mail. No way that system can work. I cannot see how anybody would work for them.

 

[ltcadviser]

You are correct.



Very well said!

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Are these direct mail or PPC?

Because you said cards. The internet guys are talking about PPC leads.

If you are talking about direct mail. No way that system can work. I cannot see how anybody would work for them.

I am thinking of sending out 5000 direct mail letters. I will let you know how it works for me.

Arthur has said direct mail works for him.

Why do you feel nothing works?

What works for you?

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I am new to this forum - but it is rather confusing - how will being independent influence your ability to sell? Perhaps better way to go would be to tap people who sell for help & training? Leads, as any resource - are not cheap, and the company like LTCFP has to ration based on what can be recouped. You'd do well to see what lead costs look like. There are people at LTCFP who buy these same leads and do quite well.

Very well said. Any business would be smart to only provide its leads to agents that produce business with the leads.

There is no reason to waste the leads.