Special Needs Planning

Jan 2, 2016

  1. The Gimp
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    The Gimp Guru

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    Where can I find some good educational and/or marketing material for this market. Protective has a one-pager but thats it. Any suggestions to break into this market?
     
  2. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    Virtual Sales Assistant has this client presentation for subscribers:
    Planning for Children with Special Needs

    They also have additional planning information in their Tools and Techniques for Financial Planning and Life Insurance Planning.

    A couple of companies have really focused on the special needs market: MassMutual, Met Life, and (strangely enough) Merrill Lynch. I'm sure there are others, but they are generally for their captive agents or advisors.

    If you really want to go "gung ho" in this market, The American College has the ChSNC designation (Chartered Special Needs Consultant), but it's generally for those who have already earned their ChFC, CLU, or CFP.

    "Breaking in" to this market is as easy as asking for referrals.

    "One of the areas I also specialize in, is in working with families that have children with special needs. They require different kinds of planning to avoid being disinherited from government benefit programs, if not planned properly in advance. For example, if a child has $2,000 or more in their own name when they turn 18, that's one way that they can't receive government help."

    (Regardless of how one feels about social security, NO ONE wants to see those who are special needs to be disinherited or disqualified from government benefits.)

    Now, by simply asking the question, your clients should immediately think of 1 or 2 families that they know of that fit the general description.

    Now, working with these families will take more time and a lot of flexibility on your part. You never know if a scheduled appointment will hold because the child is having a really 'off' day. It would probably be difficult to hold appointments in your office. Going to their home would probably be better because they can be with their child in a familiar surrounding without requiring a babysitter or someone else. Holding webinar meetings may be helpful as well.

    You'll want to get to know an attorney in your area that will draw up Special Needs Trusts (as needed) for this kind of planning.

    I hope this is helpful.
     
    DHK, Jan 2, 2016
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  3. india.simson22
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    india.simson22 New Member

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    Thanks DHK, You have explained good plan.
     
  4. The Gimp
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    The Gimp Guru

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    Thanks Dave. Your input is always helpful. For some reason I knew you would be one of the first people to respond. After I asked this question I googled special needs planning courses in the American College Program came up.
    I would definitely be tackling the ChSNC designation but it looks like I need to get my CLU before I can start taking the courses. So it will be awhile before I get all of that done.

    Since I have "special needs" myself, I think special needs planning with give me a good niche market to work. I just want to know exactly what I'm doing when I get a referral to someone with special needs children. This, in addition to the fact that I just got access to a product that gives first day coverage to the person with the disability will be a great match.
     
  5. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    There is a validation exam that you could take instead of completing ChFC, CLU, or CFP courses first. You'd just have to see if that makes sense for you.

    The American College
     
    DHK, Jan 2, 2016
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  6. somarco
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    somarco That Medicare Expert Guy

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    somarco, Jan 2, 2016
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