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Success, yes. Convincing them it’s in their best to buy it - it’s all about properly positioning the concept and most efficient way to allocate a clients resources. 3 options for LTC - LTC policy, hybrid policy or self-funding. Even the wealthiest of clients (who could self-fund) realize why leveraging a dollar via some type of LTC makes economic sense. It’s purely a function of mathematics. Use the industry statistics and the emotional understanding that they’ll likely need some form of LTC coverage.
Cheapest carrier? Absolutely not. Find a stable company, strong company rating, review the number of premium increases they have experienced over the last 25 years. With the cheapest carrier, the client will experience rate hikes frequently and will be livid when 5-10 years down the road, their premium has doubled or tripled.
They have a hybrid, a traditional LTC, and a whole life policy with an LTC Rider
MoneyGuard, New York Life’s LTC, M of Omaha.
I like northwestern mutual 's LTC
The obly success Ive had is by selling life insurance with an accelerated benefit rider. For whatever reason people don't want to buy LTC insurance. Its so illogical
Best policy out there is Lincoln Moneyguard, either lump
Either lump sum 50k, or 5k a year for 10 years.Get their software to run illustrations off your laptop. 6% commission lump sum or 50% commission for 5k plan.
Asset based (moneyguard, pac life premiercare, or oneamerica) or life insurance + chronic illness.
When we do a financial plan,MGP, it shows the risk and makes the appropriate recommendation. No selling involved and whether it’s LI or LTC is always less than what they were quoted at an insurance shop.
Is NYL a hybrid?
Yeah they don't want to accept the possibility that they will get old and incapacitated!!!!
FA 1, what LTC company do you usually use? Mutual of Omaha and Transamerica are the only ones left on our platform
Lincoln Moneyguard is the best. Although Pac Life is decent, Moneyguard still gives the client far more benefits for the same premium.