Managing the Long Term Care Risk from a Different Viewpoint

Presented by Leonard Berthelsen

Traditional long term care insurance has been a staple in the insurance agents toolbox for twenty-five plus years.  With some consumers though, it just doesn’t make sense to them to buy something that they may never use.  (I think further education needs to be given for this mindset.)

Sometimes it seems we kind of bang our heads against the wall trying to convince people to do something that they believe is not right for them.

Managing the risk for our clients is part of a sound financial strategy that we bring to the table.  Helping preserve our clients’ assets that they have accumulated as well as providing a legacy to be left behind for their loved ones is part of that strategy.  That’s a difference maker!  Linked products, hybrid products and products that provide asset protection against a long term care crisis while at the same time providing life insurance dollars to fund that legacy are key attributes in managing that risk.

Yes, there is an ever increasing risk that long term care issues will affect our clients sooner or later – we are living longer.  This can be a win-win for our clients.

Traditional long term care coverage will certainly mitigate the risk.  But what happens if long term care issues don’t come into the equation for our client?  With these new products, the value of the life insurance is there and is able to be used just like traditional life insurance.  The key to this type of product is that a benefit is going to be paid one way or the other.

So the next time you run into resistance about traditional long term care coverage, think from a different viewpoint and you just might find your client receptive.

Contact your sales manager at Financial Brokerage at 800-397-9999 to learn more about how these products work.  Learn how to position this with your clients and they just might be open to a discussion that they previously had no interest in.

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