Main sales are LTC?

Discussion in 'General Insurance Agent Discussions' started by MIBizInsurance, Sep 30, 2007.

  1. MIBizInsurance
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    Any of you folks specialize in LTC sales?

    Say 50% of total sales come from LTC sales.

    What are main challenges of selling the product?
    Why did you choose to focus in on LTC?

    Any work directly for Genworth as a captive agent selling LTC?

    Good/bad? How are the leads provided? She mentioned that this was something the hiring manager mentioned numerous times.



    Bringing this up as friend called today and was asking about working captive for Genworth as an LTC agent. Told her the pros/cons of captive but as only have a limited knowledge on the product told I'd research it a bit for her.

    Suggested perhaps contacting a established indy LTC agent to ask questions and perhaps even finding a mentor. Told her only offering one company in the LTC field (or any field) really is not the best for potential clients.

    Thanks.
    [​IMG] [​IMG]
     
  2. HomeService
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    I personally have never been a fan of LTC so I am the wrong one to ask, but Physicians Mutual, NY Life, Bankers Life & Cas, Mutual of Omaha, are all into it as well, so there is your competition, depending on your state.
     
  3. senior-advisor-indiana
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    Plus Met Life and John Hancock. How could you leave out the major players?
     
  4. James
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    CONSECO MediaRoom - Insurance and Annuity Products - Ratings

    Physicians Mutual - Company Rating

    I would be leary selling either of these companies, esp. on a LTC contract that might take 20, 30 or more years before a claim will be filed! Now let us look at these companies.

    http://www.johnhancock.com/pdf/USFactSheetQ42006FINAL.pdf

    MetLife Insurance Ratings

    Your choice I suppose, you can sell C, B and maybe an A or you can sell AAA or AA type of companies, your choice! IMHO, it's a no brainer!
     
  5. HomeService
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    Because, here in TX I never run into MetLife and John Hancock on LTC, that's how I left them out. But, just because I never run into them here does not mean they are not selling it, here. { actually, when I lived in NY I heard of John Hancock a lot but never hear of them in TX, they must not have a big presence here, and MetLife is more into P&C here}
     
  6. arnguy
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  7. James
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  8. HomeService
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    nobody answered the questions on the original post
     
  9. MIBizInsurance
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    /Smile


    Thanks for the replies thoe.

    She spoke to a LTC agent in detail today so think she got her questions answered. Sounds like she is going to pass on Genworth. Mentioned that the agent she spoke to was going to make a few calls and try to find her a mentor or indy agency that offered training.

    I'd still like to hear from any folks who focus in the field. Remember bout 5 years ago hearing how LTC sales was going to be the place to be.
     
  10. James
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    Well guess what, sales have been down, as far as I understand the sales are starting to go up slowly. I find it a difficult sale to say the least, then again I don't waste too much time on the 65 and up crowd.
     
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