How many times have you heard clients’ concerns about the cost of Long-Term Care Insurance? It is the single most common objection, but this objection can be overcome by understanding the underlying issues at work here.
If your clients are like most, they do not think they will ever need LTCI, and they do not really understand what they are getting for their money. So how can you help them overcome these misconceptions? This requires asking some very specific questions.
Many producers make the mistake of showing an illustration too soon – the premium then becomes the problem instead of the solution. You must first develop the need.
The purpose of this dialog is to get your clients to really understand what care giving encompasses. It is at that point they realize the true value of a LTC policy.
While the life insurance sale is a very logical one, the LTCI sale is unique, as it is an emotional sale. When an extended health care need arises, it is an emergency, not a planned event.
A LTCI policy not only provides financial support, it also provides much needed emotional support for the family members dealing with the emergency.
If and when a person becomes ill, there will be a need for care and a way to pay for that care. A Long-Term Care Insurance policy is the most cost effective way to provide for that. The premium is not the problem – the premium is the solution to the problem. If you can get your clients to understand this, you will get the sale.
Contact your LTCI Specialist today for more ideas on how to develop the need and start closing more business!
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