Stick to the script
"Selling LTCI in the employer market takes the right message and sensitivity to a busy audience. Most employers have little margin in their schedules and even less when it comes to listening about adding a new employee benefit in a challenging economy. Knowing this context of sales I use the presentation strategy of What, Why, How and When with employers in recommending they consider LTC as an employee benefit. The four key talking points I express to employers in my one page presentation in a direct manner are:
- What is the real risk of long term care?
- Why does it make sense as an employee benefit?
- How are plans being implemented in the market today?
- When plans are implemented, what is the end game value to you and your employees?
Time is money and employers these days have less of both. Keep it simple, clear and direct and stay on message. You will be amazed at how much people can learn when you keep it short, tell them the questions they should have about LTC and then, give them the answers."
– Mike Skiens CEBS, CLTC
President, MasterCare Solutions, Inc., Portland, OR
Become an expert!
"The most powerful selling advantage an agent can possess is to know their products. Additionally, today's shoppers are more sophisticated than in the past. High-pressure, fear-based selling simply doesn't work. Make sure you do a good job of educating your prospects and simply ask them what they would like to do. LTCI is not a 'first call close.' Agents need to be patient, respectful and work hard."
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– Curt Horowitz
President, LTC Connects, Mill Creek, WA
Look into the future
"A question I like to ask a prospective client early in my interview is, 'Do you have a perfect view of the future?' The vast majority respond that they don't and I immediately thank them for their honesty. I then inquire if they have pre-funded things like health insurance, an emergency fund, IRAs, retirement or college for children or grandchildren. Most respond they have done so. This sets the stage for a conversation about pre-funding a catastrophic medical event that their health insurance, and later Medicare, won't cover as they age. The common objection that follows is they are likely to use all the things they have prefunded so far and this isn't necessarily the case for LTC insurance.
Now we come back to the 'perfect view of the future.' Since they admitted they didn't have a perfect view of the future and therefore they don't know what will happen with their health as they age in place, it would not make any sense to start saving for an unexpected change in their health once that change happens. This just makes way for another prudent decision and helps remove some of the emotional issues attached to this subject."
– Nyal Bischoff
LTC Advisor, Long Term Care Resources, Troy, MI
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