Recommended Age Range for LTC

Nov 8, 2018

  1. rousemark
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    Yeah.. but stress is what gets the adrenaline flowing and creates a little excitement in life.. :yes: Taking an order will never be as satisfying to the true sales person as actually making a sale. :)
     
  2. scagnt83
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    scagnt83 Worldwide Expert of Everything

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    Yes and no. Having been on both sides, I would say it depends on what source the inbound sales are coming from. If you are being fed leads, then yeah, not as exciting.

    But if you are the one generating the inbound leads (like a website you have created) there is a certain excitement that comes from people reading your words and entrusting you because of that.

    I admit that its not the same as closing a true cold call though.
     
  3. ltcadviser
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    No order taking here. I am definitely making sales. And I definitely receive satisfaction. And my adrenaline is flowing. And it is high stress too.

    I am competing heavily with other financial advisers to earn the business.
     
  4. rousemark
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    My response was to JJ's statement, "The fact that the clients call you is great... really the only non-stressful way to do business. Inbound is 1000X better than outbound." not to how you do business.. :)
     
  5. ltcadviser
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    I think you should bring it up with clients in their middle 40’s. Or at least be in tune to their concerns. Be especially aware if their parents are aging, and are starting to need care. Aging parents are the emotional catalyst for the purchase of the insurance for parents that do not want to burden their own children.

    People in their 40’s will buy LTC insurance.
    My wife and I bought our 10 Pay policies at age 46.

    JJ, may I ask you how old you are, and do you own LTC insurance?
     
  6. Mr_Ed
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    If you're asking this question you either didn't read the article or you don't understand the article.
     
    Mr_Ed, Nov 9, 2018
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  7. JJ2713
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    Just turned 35. No, I don't own LTC insurance.

    I wouldn't wait until I'm 70, but I'm not sure I would get it before 50.

    LTC is really for custodial care, not disabilities. And quite frankly, if I needed LTC before I was quite old, I'm not sure I would want to live life that way.
    -----
    I deal with older clients mainly (retirement planning). LTC is definitely one of the actions I go over as part of a sound retirement plan.

    I do a risk/action profile for every client (here are the retirement risks, here are the actions to mitigate or eliminate those risks). This involves quite a few insurance products (annuities, LTC, life insurance for various purposes, etc.) + investing strategies, etc.

    I added Medicare simply to feed into retirement planning, although Medicare is its own business as well. But I don't trust the Medicare business. It's the #1 political topic and I think something is going to change regarding "healthcare for all", including the agent side of the business (hopefully the agent side doesn't).
    -----
    However, I'm considering adding another segment to my marketing, where I would deal with younger people - 30s, 40s, 50s. There are so many people who are not properly insured, aren't investing correctly, etc. Many different strategies to help them.

    So I asked about the age for LTC because I wasn't sure about bringing it up as one of the actions to take for someone under 50.
     
    JJ2713, Nov 9, 2018
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  8. JJ2713
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    What I mean is that it's better to own and control the marketing and leads. I could not imagine buying leads or cold-calling, etc. It's just not even an option I would consider.
    -----
    Having a website to get SEO traffic and generating leads is great. The people read your content, watch your videos, get your lead magnets, etc. You're the expert. You're educating them. Nurturing them.

    Have emails that go out automatically. You're "dating" them.Giving away so much helpful information. You could even do a type of review for them. make content and videos just for them.

    So many things you could do.
    -----
    Also having a several paid traffic sources is great too. They could be offline and online sources.

    These could feed right into your website. You could also do it offline too, where the nurturing happens only offline.
    -----
    I like nurturing both offline and online, especially if the client age is a bit older. And there's just something different about receiving a bunch of stuff in the mail. Feels more "professional" and is higher touch.
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    Bottom line is that not owning and/or controlling your traffic and leads is just not ideal. It would be too stressful.

    I see so many people just buying leads. Or just sending a postcard, receiving the card back, and then calling the prospect trying to "close" them. Well... who the hell is the agent? Why should the prospect care? Or do business with the agent? Because you sent a postcard and that's it?

    Where's the information? The nurturing? The trust factor? The credibility? Who are you? What service will the prospect receive? Etc.. Too many agents are acting like salesmen just wanting to get the lead and "close them".

    The less "closing" you do, the more sales you will "close". Damn, I just made that up, but it sounds good. Should go on a t-shirt.

    What I mean is the more you show a client you're the expert, you nurture them, you educate them, you build their trust in you, show them what service you will give them, etc... the more business you will have.
     
    JJ2713, Nov 9, 2018
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  9. ltcadviser
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    JJ, you will buy it when the timing is right tor you, whatever age you are at the time.

    Helpful advice: if you own a policy, you will write infinitely more policies for your clients than if you do not own a policy.

    Don’t view LTC insurance as an action item for your clients.

    View LTC planning more as a conversation to have with your clients. Business will flow naturally from conversations.

    They also will buy when the timing is right for them to buy.
     
  10. ltcadviser
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    ltcadviser Guru

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    Correct
     
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