LTC Possible Addition to Current Sales?

vic120

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Hi Everyone,

I have been doing medicare (Supp/ADV/PDP/) sales for last 3 years and have been thinking about adding LCT to my offings next year.I do have a couple questions before I get to far into the possibility though and any insight would be greatly appreciated.

1 and most importantly Is any one successful at selling LCT over the phone?

2 will it work well to target ages 62 - 70?

3 what type leads work well IE internet, Mailer, Teli, cold call?

4 what Fmo's would be good to get a start I may need a little training but I have a lot of sales experience and I can do a lot of research when directed to the right sources, I just don't want to get ripped of by FMO just because I need a little training.

I don't plan on replacing my current medicare sales just to add to it and Before I get to far down this rabbit hole I just want to see if it makes sense for me and my current buis model. So again thank you for all your responses.
 
It's damn near impossible to cold call or DM to sell over the phone. Way too complicated.

The guy to contact is Tahoe Ray.

Rick

Thank you Rick, I suspected this to be the case, I am hoping there are agents having success using internet leads and selling over the phone.

I looking into it because it might be something to sell to people that are about to age into Medicare and T65 to 68 that buy Med Supp and LTC as cross sell

I also am hopping LTC is more of a education then a sale like a Med Supp and not a pressure sale like a final expense.

But I do suspect that I may hear it is impossible to make it work for phone sales and that is the main reason I am looking into this before I get into contracting.

If I hear agents having success over the phone I may contact Tahoe Ray.
 
originally posted by vic120

I looking into it because it might be something to sell to people that are about to age into Medicare and T65 to 68 that buy Med Supp and LTC as cross sell

I'm not sure if a medicare prospect is the prime target for LTCi.

The average age of a LTCi purchaser today is 55 years old. When using direct mail, the target ages are usually 45-60.

The product starts to become fairly pricey for those 65+.
 
originally posted by vic120



I'm not sure if a medicare prospect is the prime target for LTCi.

The average age of a LTCi purchaser today is 55 years old. When using direct mail, the target ages are usually 45-60.

The product starts to become fairly pricey for those 65+.

I might still be interested for 50 to 60 as they are still future Med Supp clients, As long as I hear agents have success over the phone.
But if the phone sales will be that much of an Issue then It wont work for me.
 
originally posted by vic120

I might still be interested for 50 to 60 as they are still future Med Supp clients, As long as I hear agents have success over the phone.
But if the phone sales will be that much of an Issue then It wont work for me.

There are very few agents who sell LTCi exclusively over the phone. Personally, I only know of 2 (ltcadviser & Mr_Ed). But, they've been in the business many years and have excellent websites established.

I'm not sure for those just starting out in the business selling over the phone makes any sense.

But, I'm sure you'll hear from Scott (Mr_Ed) and Jack (ltcadviser) on this.
 
originally posted by vic120



There are very few agents who sell LTCi exclusively over the phone. Personally, I only know of 2 (ltcadviser & Mr_Ed). But, they've been in the business many years and have excellent websites established.

I'm not sure for those just starting out in the business selling over the phone makes any sense.

But, I'm sure you'll hear from Scott (Mr_Ed) and Jack (ltcadviser) on this.

It might not work, I understand that, It would not be a new business as I have been selling Medicare plans for 3 years, It also would not be my main focus as I am not looking to stop selling Medicare products.It would just be an expanding on my current expertise and branding. I am customer relation focused and LTC just seemed like a good addition.

I am not rushing into it either, If I feel this is something I can learn and sell over the phone I will research and learn the product in and out and target a start time of Jan, I just want to get a feel it would work over the phone with internet leads, before putting the time into learning everything LTC.

----------

I do understand if it is not something that can be done without changing everything I do then I will just move on
 
It might not work, I understand that, It would not be a new business as I have been selling Medicare plans for 3 years, It also would not be my main focus as I am not looking to stop selling Medicare products.It would just be an expanding on my current expertise and branding. I am customer relation focused and LTC just seemed like a good addition. I am not rushing into it either, If I feel this is something I can learn and sell over the phone I will research and learn the product in and out and target a start time of Jan, I just want to get a feel it would work over the phone with internet leads, before putting the time into learning everything LTC. ---------- I do understand if it is not something that can be done without changing everything I do then I will just move on

I'm now of the opinion that just about anything can be sold over the phone, as long as the process is available.

What I mean by that is, I can sell a LTCi policy over the phone. But, will the carrier allow a non face2face sale? Do they have an e-app option? Lastly, are there multiple LTCi carriers who have this process available, to allow for different underwriting needs?

If the process is available, I'd love to know as well..
 
I'm now of the opinion that just about anything can be sold over the phone, as long as the process is available.

What I mean by that is, I can sell a LTCi policy over the phone. But, will the carrier allow a non face2face sale? Do they have an e-app option? Lastly, are there multiple LTCi carriers who have this process available, to allow for different underwriting needs?

If the process is available, I'd love to know as well..

Yes it is necessary for carrier to allow non face to face but Epp while convenient is not necessary, I have done many Medicare sales by paper mail and fax.
 
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