Multi-Life Long Term Care

If you are in the Long Term Care business then you know how tough the market place is right now. Carriers are pulling out- rates are increasing and clients are turning more and more to the hybrid life policies as a solution to their Long Term Care needs. But for those of us who know the value of a traditional Long Term Care policy- there is still hope and a market for the solution it provides.

First, you must understand that nothing provides coverage as well as a Long Term Care policy. If your client does need care, and the odds are that they will- then a Long Term Care policy is the best investment that they can make. Sometimes opportunities for growing your business are closer than you think. With a keen eye on your existing individual client list, you may be able to find an excellent network into multi-life sales.Here’s five key triggers to look for to turn one contact into a high potential multi-life prospect:

  1. Clients who own a business that might be looking for meaningful benefits to offer employees.
  2. Clients who hold a high-level position or have influence in the decision process at their workplace.
  3. Clients who hold a professional occupation such as attorney, physician, CPA,real estate agent, etc.
  4. Clients who would benefit from the unique tax incentives if LTCi were purchased using company dollars
  5. Clients who could benefit from significant multi-life discounts and possible underwriting concessions.

As you already have an established relationship with these prospects, it’s easier to expand this existing business association than to make cold calls to businesses you don’t know. Companies continue to look for ways to reward employees, and Long Term Care insurance is a welcome benefit that can help build loyalty and improve job satisfaction. Which clients can you help to make LTCi available at their workplace?

About Jeffrey Berson

40 years in and around the industry has made Insurance a part of my DNA. I have had the pleasure of working with and for some of the greatest minds in our industry. My "Bersonal" View is an attempt to capture some of the best ideas, the best concepts and the best practices in a way that can lead to success for others. It will certainly be my point of view, so please...don't take it "Bersonal".
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