Ltc??

[Jessica Durphy]

I'm hoping to get some very informative and NICE answers! I'm new to this portion of insurance. I've been doing Med Supps and MAPD, PDP's, and Life Insurance!

I had a fella, who is turing 65 next year. He wants to talk to me all about Med. Parts A and B, he wants to know the pro's and con's to both Supps and MAPD's, etc. He also wanted to talk with me about getting a LTC plan. I told him that I'd be more than happy to discuss all of that with him, if he'd want to set up a "date" after the holiday's then I'd discuss it all with him. He was ok with that!!!

Anyway, I pretended that I was the pro with LTC (obviously I spent more time with the Supp just making him feel comfortable with me) We are supposed to meet in mid January! I'm trying to learn as much as possible about LTC between now and then....

Can ya'll give me a quick overview of LTC, point me in the right directions to read up on it, learn why it's important to have it verses not having it.... What is the best and going rate for LTC, (I hear MoO is the best)...... any good solid information is appreciated

 

[bluemarlin08]

Find an agent that is an expert and split the case, you will learn a lot quicker watching someone else.

 

[Death Cab For Tootie]

Find an agent that is an expert and split the case, you will learn a lot quicker watching someone else.

^^^^^^^^^^^^^^^^ This.

 

[Justin Bilyj]

Some states have additional educational requirements, I took mine at webce.com.
I suggest John Handcock, they have a shared spouse option that lets spouses share their benefit amount/time.
I also heard genworth, mass mutual, and met life have good ltc.

 

[CALTCAgent]

Hello,

I'd qualify him first. I'd qualify by health. Then I'd qualify the appointment for LTC by asking him some specific questions. This will give you the best chance in the appointment for taking an application.

These questions will help me choose the company that I want to show him. In most cases I would not recommend MOO. Price is not the only consideration. There are some cases I would. They are a minor player in the market.

The best way is to work with an experienced agent. You don't have to split the case to do that, there are other options.

Thanks!

 

[YouGotMyMoney]

We need the ILTCiAA

 

[BNTRS]

Why don't we start with what you know about LTC, and then go from there?

 

[Jessica Durphy]

BNTRS, I had to chuckle a little... because I know nothing! Except the basics... Long term care is exactly what it says it is.... either in a nursing home or in your own home. You get it to prevent a burden on your family, to keep the money's that you have worked so hard for... I'll tell ya', I don't know anything. That's why I was asking for information, and if someone could just point me in the right direction. I don't mind reading... I have looked at what the pamphlets say, but they are exactly what a client would read, DOESN'T help me as an agent!

I don't know of any agents in my area that are LTC agents (pro's)... My boss has been an agent for 23 years.. he's sold maybe a handful of them over the years, Mr. Williams is a P&C agent through and through... that's his passion. So I don't really know of any around.

 

[yankee466]

I would suggest that if you know nothing, do not attempt to help your client other than to introduce him to someone who knows something. Do not learn the product at the clients expense or his children may hunt you down one day and ask why you did their dad a dis-service on what you sold him. Follow along with a seasoned pro, get a mentor, and READ a lot. Be good at something, and not poor at lots of things. LTC is not a quick study product. Move on to term life insurance if you want simple.

I did not check with PA rules, but in many states you need to be LTC/partnership certified to sell it...just like you have to be certified to sell MA. Learning what the product does is one thing. Learning what to sell your client in his/her situation is another thing....that takes a little longer than basic book learnin. Lots of carriers....lots of subtleties.

Just my opinion.

 

[BNTRS]

.

I did not check with PA rules, but in many states you need to be LTC/partnership certified to sell it...just like you have to be certified to sell MA.

Umm, I could be wrong, but it was my understanding that partnership certification was only a requirement in some states to sell a partnership plan.

Jessica,

I think you'd be hugely benefited from meeting with an LTCi wholesaler. Find a company or two that you want to work with/have heard great things about and reach out to them. Discuss what you've mentioned here with the Wholesaler. Wholesalers should be available for client appointments as well. Meet with them first and talk to them, it's easy to tell who knows there stuff, and who will be in the unemployment line in a few months.