LTC Pro's: A Little Help Please.....

Jun 8, 2016

  1. Brian F 11
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    Brian F 11 Expert

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    Looking for a little advice here.

    I searched through the previous posts, etc, and found some info, but I am looking for a little starter help from some of you pro's that care to share!

    Here is where I am so far....

    I do not purchase LTC Leads or actively market LTC. We focus primarily on Medicare, Health, Life, etc. While consulting with my clients, usually for Medicare ages 65+, it is becoming more and common that I discover they should have already purchased a LTC policy but have not. I am already appointed with carriers that offer LTC but don't just want to throw my customers into just any plan. Many of my customers are elderly widows who are on their own and have no one else but their agent to lean on for advice.

    I have lived in the Tampa Bay area of Florida, all of my life. I catch countless stories on the news, year after year, where dirtbag people take advantage or prey on seniors that can't afford to take any hits. After speaking to so many seniors that are in that situation, maybe it has effected me. I take helping seniors SERIOUSLY and personally. I strongly feel like it is my responsibility to get them onto a plan that is good for them and will actually help them, or send them to the right place. I just want to make it clear where I am coming from.

    I do not have much experience with LTC, just learning the ropes now. From what I gather, LTC can be provided by the Uncle Sam Care, first depleting assets until they qualify, etc. Or, for those who can afford it, they can buy a LTC Policy.

    Questions:

    For those who should look into buying a policy, which carriers offer friendly policies to healthy seniors, age 65+? I read in previous posts that Metlife and New York Life are no go's. Who offers good products?

    I understand that some customers may be better off seeking out help from an Elder Care Attorney, some may shed assets, and so on. For some it is simply a matter of planning. Is there somewhere that I can find an assessment tool or a planner that can help to determine the better path a customer may take given their individual situation?

    Is there perhaps an FMO/MGA that specializes or provides excellent training that you savvy agents prefer?

    I have heard more than one person say that "It's always best to consult with an Elder Care attorney". I don't buy that. What's your thoughts on this?

    So I was joking about the 'little' part.

    Thanks for your time ladies and gentlemen.

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  2. Arthur Rudnick
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    Arthur Rudnick Moderator Moderator

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    Hi Brian,
    It's good to see that you need only "a little help" :)

    What you need to do is to partner up with an experienced LTC specialist who can mentor you and hold your hand for the first 12 months until you can get a handle on the business,

    Targeting 65+ is not the best way to start. Not only do most of the Medicare crowd have some health problems that would cause a decline or a rating, but at that age premiums for many retirees become prohibitive.

    Ideally, the target age for this product is now 45-60.

    BTW, NY Life & MetLife are no longer in the LTC business.

    You may want to get involved with a marketing organization in FL where you can learn the product and have access to all carriers in the state. For an agent just starting out in the world of LTC you'll need as much support as you can get.

    Spend some time going through the LTC Forum section which will not only give you an idea what you're getting into, but also give you a number of questions to ask.

    Good luck and let us know what you finally do.
     
  3. Mr_Ed
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    Mr_Ed Guru

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    Last I checked NY Life was still selling LTCi.
     
    Mr_Ed, Jun 9, 2016
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  4. Arthur Rudnick
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    Arthur Rudnick Moderator Moderator

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    My error..................
     
  5. ltcadviser
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    ltcadviser Guru

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    Mass Mutual has best rates in FL by far. Start there.
     
  6. CALTCAgent
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    CALTCAgent Guru

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    An experienced LTC specialist should be able to help you with that.

    When are they saying a person should consult with an Elder Care attorney ?
     
  7. Brian F 11
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    Brian F 11 Expert

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    Thanks everyone for the help. I appreciate you taking the time to share with me.

    If anyone else has something to add, please do so.

    I couple of different people in my FMO outfit suggested that. I also have another FMO/MGA that I use for Term Life, they suggested partnering up with one, that actually may not be a bad idea.

    Sent from my iPhone using InsForums

    ----------

    Thanks for your suggestion ITC Adviser. I plan on looking into them later this evening when I get back into the office.

    Sent from my iPhone using InsForums
     
  8. Brian F 11
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    Brian F 11 Expert

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    So.........MassMutual is no longer appointing brokers?

    Any other suggestions?

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  9. ltcadviser
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    ltcadviser Guru

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    I intend to still write Mass Mutual.
     
  10. L5tc
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    L5tc Super Genius

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    How will you do that
     
    L5tc, Jun 22, 2016
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