When engaging prospective clients in Long Term Care planning discussions, many financial professionals focus on asset protection at the expense of other valuable benefits that LTC Insurance provides.
Because LTC planning can be a very emotional process for people, it’s important to be cognizant of the various personal reasons why people buy LTC Insurance protection and to dig for those needs and concerns early in conversations with each client.
Doing so can enable you to better tailor your presentation to their specific needs and create a more efficient and effective sales process.
Here are a few process-driven tips:
THINK – Before you sit down with a potential client, consider the following question: Why do people purchase LTC Insurance?
A few of the most common reasons include:
ASK – During the fact-finding process, isolate your prospect’s most important reason for considering LTC Insurance.
Here are a few sample questions you can use to uncover the need:
PRESENT – By uncovering the motivation behind your prospect’s consideration of a policy, you now have the ability to tailor your presentation to their specific need, focusing on the value of the policy.
By stressing the benefits of LTC Insurance, prospects will begin to see the policy as more than simply a premium they have to pay every month.
Did You Know? Many carriers offer additional riders and support services to help ensure that your clients’ loved ones get the care they need. Ask CPS for more information.
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