Software for Long-term Care

[DHK]

There are really only two questions that you should ask about health:
1) Height/Weight/Prescriptions
2) Are there any medical reasons to believe that you wouldn't qualify for any amount of life insurance, disability, or long-term care insurance?

Then let them talk and you can figure out what applies and what doesn't based on the companies you represent.


However, your bigger question indicates that you don't know how to either pivot to, or do a fact-find session with your prospects. If you knew how to do a fact-find, you could talk about LTC needs, disability needs, and if special needs planning needs to come into play. That's all a part of fact-finding, not just "focusing in a niche".

I think the best training on how to do a fact-find and transition yourself from "insurance agent" to "financial consultant"... is with the Insurance Pro Shop.

I'd start with their members only site here for only $35/month: https://www.insuranceproshop.com/insurancemarketing/insurancemarketing.html

There's a lot of "stuff" on there. Two major things I'd look at:
1) You can use their newsletters with your clients every month
2) Watch their online video training - that's where the GOLD is. In particular, the "advanced fact-finding training" and "trusted advisor success training".

If you want to buy a system (power point presentations, excel templates, and lots of reference material) you can, but I'd start with the members only site and go from there.

Here's an example of what they'll teach you. (Start at 4:30 and note that he doesn't go into the true fact-find introduction in this video.) This case was based on a person who originally wanted a health insurance policy and how Lew transitioned the conversation to planning and sold a permanent life insurance policy.


If you can learn to do this, all the avenues you talked about can open up to you.

 

[Mshunt]

Thanks so much for the resource. Running my own agency has been very fulfilling because I can do it like I want to but now I have several hundred clients and I want to sell them several products not just Medicare. I have built the trust, they know I do good work (not just give me all your info and let me sell, sell, sell you), and so now I want to become an expert at another product line. I want to master a product offering and then move to the next product. I have often thought of bring on other licensed people who know one product line well and then we can tag team a client. I get frustrated when an agent thinks they are a Medicare, life, health, P&C, commercial, LTC expert. Really, hell no. Pick your poison and stay with it. But then again, I maybe completely off base with my theories. The downside is you leave alot on the table when I only focus on one core product line. So do I grow my expertise or do I hire someone who is an expert in that area....that is the question. I think capital wise, I will grow myself and then bring in another topic expert that meshes with business model.

 

[DHK]

If you have a good IMO (for product information just-in-time, versus just-in-case), and you can do a good fact-find, and you see your clients on a regular basis... then all you might need would be clerical help.

This is transitioning from being an agent to a consultant.





If you transition from just "selling one product at a time" to helping people to solve their problems and set priorities... you'll sell more and make a more meaningful difference in the lives of your clients.

Bob Ritter’s Blog #86: The #1 Reason Advisors Are NOT Getting Paid What They’re Worth


If you really have hundreds of clients in that age bracket, and you want to transition to doing more for them, I'd actually give Lew and Jeremy Nason a call at the Insurance Pro Shop. They have systems you can buy to help you to set up educational workshops to set more appointments. I think that would be a good step for you.

Remember - long term care is just ONE component of having a successful retirement. If you can help retirees with the other components, they'll see you as more than an agent and you'll probably get even more referrals.

www.insuranceproshop.com

 

[CALTCAgent]

I think I have lost a few to financial planners and so I am trying to position myself to be prepared when those conversations start

I get mad just thinking about this subject.

 

[Mshunt]

I get mad just thinking about this subject.

And its generally after the fact...so I am going to set up a marketing plan to contact all existing clients so they know ex actually what I do all the time. This time of year is good bc they are seeing their CPAs for taxes. I am a little late but late is better than never

 

[CALTCAgent]

And its generally after the fact.

Do you mean after the meeting with them and going over plans ?

 

[BMC]

I know this isn't what you were referring to, but thought this might help when discussing the costs of LTC in your particular area.

whatcarecosts.com/Lincoln

Lincoln is the code you enter in the top right.

 

[ltcadviser]

I think I have lost a few to financial planners and so I am trying to position myself to be prepared when those conversations start.

Most financial planners know next to nothing about long term care planning or long term care insurance. If you completely understand the policies and the health underwriting guidelines, and you have conversations with your clients you will write an infinite amount of business and help your clients. Conversations are the most important step. All you need are a pen and a legal pad, and 2 ears. Leave everything else off the table.

 

[Mshunt]

I know this isn't what you were referring to, but thought this might help when discussing the costs of LTC in your particular area.

whatcarecosts.com/Lincoln

Lincoln is the code you enter in the top right.

Thanks! I saw that link in some LFG stuff before, but could not remember. I now have it bookmarked.