Looking to sell LTC

[georgeltc]

I am making a carreer change. I have 20+ years of in-home sales (home improvement business). I am considering exclusively selling LTC with incorperating annuities along the way. Phyilis Shelton and LTC Consultants looks like the way to get started. I would like to be at $150,000 in 3 to 4 years. How realistic is this? Pros and cons of both working with LTC Consultants and mainly selling LTC.

 

[The Rabbi]

Re: New to LTC Need Advise

LTC is a tough sell during these times. Once you find someone who can afford it, they have to pass underwriting which is tough. To sell LTC and annuities, you need a large warm market of Boomers with money. Attend a weekly meeting with the agency and speak with some agents. You can make big money with the right connections. Your experience will help you a lot.

 

[moonlightandmargaritas]

Re: New to LTC Need Advise

You can make big money with the right connections.

Right on the gelt again Rabbi (as usual). Nobody can accuse you of being meshugana. Mazel tov.

 

[georgeltc]

Re: New to LTC Need Advise

Thank you ,Rabbi. I am new to forum discussions. I just noticed there is another area that covers just ltc issues. Will my post be notice my them automatically or so I need to post it to them dirictly. Sorry for my ignoance. Anmd do you have any experiance with LTC Consultants?

 

[ltcadviser]

How exactly can Phyllis help you? What is the value added? At what cost?

 

[georgeltc]

A person has to start somewhere to learn the ropes. This is why I posted the question of pros and cons of starting out with her organization as I am totally new to this. I am more then open to explore other options and suggetions., and would value the knowledge and experience from those here. Kindly steer me in the best direction as I need to make a decission here. Is it even fessible to go with ltc exclusively at this time? The Rabbi certainly did not give much encouragement. I am more then willing to discuss this through another medium as I need to make a informed decission. Thank you for your time.

 

[carol369]

I wouldn't go exclusively with ltc, but have as part of other products in your bag.

 

[Arthur Rudnick]

George,
Selling LTCi exclusively today is not as easy as it was 10-15 years ago.That doesn't mean it can't be done. But, you'll need to follow a proven path.IMO, you'll need at least the following:

1) Find a mentor. Find someone who is successful and has experience in selling the product. Learn all you can. Go out on appointments with him/her and if those appointments are with YOUR prospects, let him/her make the presentation and if a sale is made, split the comp (50/50)

2) Personally, I'm not a big fan of Phyllis Shelton, but there are many agents who have taken her course and speak very highly of it.

3) If you're serious about this product, take Harley Gordon's CLTC class. It will run you about $1,000, but every penny spent will be well worth it.

4) Find an Marketing Organization that specializes in LTCi sales. Interview with as many as you can. You'll most likely hear the same thing from all of them, but there are many that are outstanding and will provide you with good back-office support. Try to speak with as many LTCi agents as you can and ask them about the agency that they're affiliated with.

5) Learn the product. Every company offers a different policy, every company charges a different premium and every company will look at medical conditions differently as well. You need to know as much about your market as possible and what you don't know, either your mentor and/or agency should be there for you.

6) Don't be a salesperson, be an educator. Contrary to popular belief, this product cannot be sold, especially to someone who has no interest. You need to educate your prospect about what LTCi can do and present all available options. Then come out with a plan (proposal) that makes sense and is affordable.

Is it easy to make a living only selling LTCi? No, but it can be done. And, if you're commited to giving it a shot, make sure that you have a bank account that could sustain you for at least 6 months.

Hope this helps..........

 

[MedSuppPro]

You could have these numbers if it were 1995. Today, it would be hard to put these numbers up. Not that you couldn't get lucky and prove me wrong.

Phyilis Shelton and LTC Consultants are a good way to get started. I haven't seen any new training being offered by Phyilis. At least she's close to you.

 

[Mr_Ed]

You could have these numbers if it were 1995. Today, it would be hard to put these numbers up. Not that you couldn't get lucky and prove me wrong.

Phyilis Shelton and LTC Consultants are a good way to get started. I haven't seen any new training being offered by Phyilis. At least she's close to you.

for someone experienced it's a lot easier to make $150k selling ltci today than it was in 1995. The avg. annual premium in 1995 was about $900 per policy. Today the average premium is about $2,200 per policy.

Plus, there's a little thing called the internet. You may have heard of it. We don't have to waste our time now driving to kingdom come to meet with someone to spend three hours with them trying to sell a $900 annual premium.

It's a lot easier now than it was then.

But, today, it is harder to start out.

mrsed