Making the Case for LTC Insurance

As we gear up for the end of the year push, November reminds us that LTC insurance is a very important part of the planning process. Long Term Care Awareness month is a great time to take advantage of the national campaign, and use it as your "excuse" to start the conversation with your clients.

As baby boomers enter their retirement years, many mistakenly assume government programs will meet their future long-term care needs. Since both Medicare and Medicaid have limitations and may undergo significant changes in the face of the growing federal deficit, now is the time to start having conversations with your clients about long-term care planning, the risk of depending on government programs, and how those programs differ from private LTC insurance. This educational approach will help position you as a valuable resource for your prospective clients. Read more.

 

To help you get started, MVP is hosting two LTC events next week. Our Glenview and Madison offices are bringing in Genworth LTC representative, John Gibbons, to discuss "Why NOT Positioning LTC Insurance in Your Practice Could Become a Liability Issue for you". Not only will you learn how to build a "Three Step Sales Process" into your LTCi approach and how to handle LTC objections effortlessly, but just for showing up you will be entered into a drawing to win a $100 restaurant gift card. 

MVP-Glenview   Tuesday, October 23rd at 8:30 AM North Suburban YMCA, Northbrook, IL   Register Now

MVP-Madison   Thursday, October 25th at 1:30 PM  Maple Bluff Country Club, Madison, WI Just added 1 hr of  WI CE to this session! Register Now

AWARENESS Month(s)

September was Life Insurance Awareness Month. October is Breast Cancer Awareness and Bullying Awareness Month. Did you also know that October is Critical Illness Awareness Month? And let's not forget that Long Term Care Awareness Month is coming up in November.

We hope you took advantage of the national LIAM campaign in September to promote your business of helping Americans obtain the coverage they need to protect their loved ones from an economic loss due to death. The LIFE Foundation had this great article on their website that we encourage you to share with your clients: What About Death by Another Means? It points out that a person's economic value doesn't change because of the manner in which they die.

According to the American Cancer Society, 1 in 8 women will get breast cancer and 1 in 36 will die from it. 1 in 2 men will develop some type of cancer and 1 in 4 will die. Cancer is a critical illness. The average out of pocket cost is in the thousands for expenses that are not covered under traditional medical insurance such as co-insurance, deductibles and being out of work. Critical Illness insurance helps take the stress out of a serious illness, so that one can focus on their recovery.

Assurity Life is observing Critical Illness Awareness Month this October, and is a pioneer in this effort. They have dedicated a website with tools, sales techniques and strategies that can help you get started with CI sales and informing your clients of this essential protection.

Next month is Long Term Care Awareness Month. According to the U.S. Department of Health and Human Services, 70% of  people 65+ will need some type of LTC services. November is a great time to reach out and educate your clients about the importance of planning. Join Genworth on October 16, to get a jump start on your marketing approach for a successful month of LTC sales.

Title:	Long term Care Awareness Month-Tools and Sales Ideas For You
Date:	Tuesday, October 16, 2012
Time:	1:00 PM - 2:00 PM CDT

Space is limited. Reserve your Webinar seat now at: https://www1.gotomeeting.com/register/254038040

Confirmation #: 269

As always, MVP is your source for client solutions. Give us a call or send us an email with your next client conundrum.

Will You Do Your Part in September?

It's hard to believe that we are into the middle of August already. All the signs of September are prominent in all the back to school ads, and it will be here before we know it! September brings with it cooler temperatures, the start of football, and in our industry, Life Insurance Awareness Month (LIAM).

The non-profit LIFE Foundation has produced this month-long national ad campaign to educate the public about the value of life insurance and to give you an opportunity to use LIAM to help market your practice and get in front of more clients.

To help you make the most of the LIAM marketing opportunity, LIFE has created the LIAM Producer eKit, which has many marketing resources including:

• A flyer and video featuring the story of Buddy ‘Cake Boss’ Valastro, master baker, reality TV star, and this year’s LIAM spokesperson.
• Sales ideas
• Free downloadable flyers, eCards and embeddable videos
• Themed-marketing resources
• A social media planning toolkit
• …and much, much more!

To assist you further, many of MVP's carriers have developed their own campaigns around LIAM and we would by happy to point you in the right direction.

We challenge you to do your part this September to help more Americans obtain the coverage they need to protect their loved ones.

How is Life Insurance Selling Like Fishing?

Discover a Simple Way to Help Increase Your Sales by 35% - according to North American Company

Dropping a line in the water to fish is generally considered a relaxing activity. It can be rewarding, but it takes persistence. That persistence sometimes pays off at the end of a long day—when you decide to cast out one or two more times. You may even switch the bait. Often times those last few casts can bring in the most rewarding fish. Persistence can also pay off for your life insurance sales, too. Let’s take a look at how you could increase sales up to 35% and probably without spending a dime.

According to a new report from LIMRA, 35% of prospects who met with a sales representative wanted to be contacted again.* The study shows that these people were simply still deciding on whether to buy the solution offered or to consider an alternative. The key takeaway is that these prospects wanted to buy, but their representative never bothered to call back.

Have you ever left an appointment feeling that the prospect needed and wanted the life insurance you presented, but for some reason didn’t purchase? Did you feel frustrated? Did you happen to follow up with that prospect?

Putting yourself in front of enough qualified people is arguably the most challenging aspect about the life insurance business. A lot of money is spent trying to get in front of more qualified prospects. You can improve your success by simply approaching your qualified non-buyers one more time.

It’s time to cast out one or two more times. Pick up the phone and try a new approach with perhaps a different product. You know the prospect needed the life insurance, but maybe the premium was too high or the potential cash value wasn’t projecting high enough. By refreshing your approach you could land an extra 35% more sales. Drop a line and give it a try today!

*To Shop or Not to Shop for Life Insurance: Turning Shoppers Into Buyers, Life Insurance Marketplace Research Association, LIMRA, 2011

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