5 Things You May Not Have Known About Long Term Care Insurance

Presented by Michelle Daharsh

November is Long Term Care Awareness month, so ask yourself, “what do you know about long term care insurance?”

Unfortunately, some of our clients and prospects hold certain misconceptions or may even have an unfavorable opinion of long term care insurance, largely stemming from issues related to its early days of limited benefits or the seemingly endless round of rate increases. There isn’t much we can do about the economy that seems to drive the rate increases, but we can discuss the myriad of options that focus on flexible long term care solutions. A long term care plan built the right way just might slow the risk of future rate increases. Let’s take a look at what is available in long term care insurance today.

1. The client decides where care is received. One of the most common myths is that long term care insurance only provides nursing home care, (that is so 1980) and nothing is further from the truth. Coverage today provides home care for those who prefer to remain in their home and have care brought to them. Other options of care can be adult day care centers, assisted living facilities and hospice centers.

2. Benefits can be flexible. In addition to options for where care is received, most long term care insurance policies offer greater flexibility in the types of services available, such as home modifications like installing grab bars or a wheelchair ramp to help you stay at home longer and safer. Meal preparation, errand services, and respite care are all now common benefits found in today’s products.

3. It supports family caregivers. Long term care insurance recognizes the important role family caregivers play in long term care. The vast majority of care being provided today is done by family members. Benefit options make it easier for families to care for their loved ones right in their own home. Most policies provide caregiver training for family members, which helps ensure care recipients are getting the best care possible.

4. It offers Shared Coverage for couples. Many long term care insurance policies offer an optional benefit rider commonly known as “shared care,” which allows couples to share their coverage and maximize their benefits while keeping the cost of coverage lower. This provides couples with peace of mind knowing that their coverage will be there if care is needed for longer than expected, and it is not a benefit that is lost if one of the insureds passes away. Remaining benefits are transferred to the surviving spouse or partner.

5. It’s not “just for older people.” While it’s a critical part of retirement planning and important protection for later years, the younger the clients are when they apply for long term care insurance, the better. Age and health are two of the most important factors when applying for coverage, so applying at a younger age will help make it more affordable, and likely more insurable from a health perspective.

With November being Long Term Care Awareness Month, I encourage you to learn more about long term care insurance and why it’s a critical piece of retirement planning for your client. Your clients just might be glad you did.

The Eight Elements of Extended Care Riders – Finding the right formula for each client

Presented by  Brian Leising

Finding the right formula for each client

Not all extended care riders on life insurance policies are created equally. Do you know the differences? Different combinations will appeal to different clients more than others. Here are eight of the major distinguishing features among insurance companies offering extended care riders. All include some combination of the eight elements. This allows you to find the right formula for each client.

Premium Payments Benefit Qualification Benefit Amount
Pf Payment Frequency Pa Payment Amount
Lg Lapse Guarantee Tc Tax Code Pm Payment Method
Wp Waiver of Premium Ep Elimination Period If Inflation

Element 5 – Elimination Period

The elimination period is the amount of time an insured has to wait for benefits after qualifying for them. Put yourself in the insured’s shoes, if you qualify for benefits, why would you have to wait to receive them? Despite this disconnect between consumer expectations and company practice, most policies contain a 90 day elimination period. Some have a shorter period for home health care and only a very few offer clients benefits immediately upon qualifying for claim.

Look for Element 6 – Payment Amount in June.

Top 5 Reasons To Buy a Fixed Annuity

Presented by Deb Strong

Today more than ever, we all know clients that have had some money invested in the stock market in security products whom may have lost some of their principal.  Why not talk to these clients about investing it in fixed annuities, to help them sleep at night.  This will allow them to have upside potential in the market and downside risk.  Please call Financial Brokerage for details.


Handling Objections at the Close

Presented by Jim Linn


Objections, a sign that a prospect has been listening to you.  But how do you handle them?  The way you address them could mean the difference of closing the sale or not.  Kinder Brothers International has a 5 step process for handling objections at the close (listed below). 

Below is an excerpt from our eLearning course, Professional Sales Process, on handling objections at the close.

There should be no knee-jerk responses, no quick moves. Never interrupt the prospect, even when you know what is coming and have a response in mind. Be encouraged that the objection is being voiced; it’s evidence that your prospect is listening and thinking. An objection focuses attention on those areas where the prospect requires more information and understanding. Listening to the objection establishes empathy. How you listen is important. Lean forward, nod your head in agreement with the prospect and let your facial expression register “I’m taking your objection seriously.” This earns respect.

“I want to make certain I understand how you feel and this is what I hear you saying …” You paraphrase and in the process clarify. This does several things for you. It tells the prospect you have been listening and that you understand what was said. Also, it makes it clear that you don’t accept the objection as being final. It gives you time to organize your thoughts, and this can be helpful. This restating step puts you in step with the prospect. It will help you avoid arguments. No one ever convinced a prospect by arguing, so stay in the prospect’s corner. Guide him or her to better understanding by providing more information. Do this by tackling the objection, not tackling the prospect.

“If we could handle this to your satisfaction, is there anything keeping you from moving forward today?” This helps you decide if this is the only objection, as well as the real objection. There are always two reasons a prospect has for not deciding upon your recommendation — the reason that sounds good, and the real reason.

Use an illustration, example, or story. Your objective in this stage is to make sure you have a prospect who is now sold on your recommendation. This prospect may or may not be ready to buy — but they are sold.

Since your prospect is now sold, you are positioned to play the role of an “assistant buyer.” This positions you to move to Closing Step No. 3, Strategic Move where you make this statement: “If you have no further questions, there are 2 questions I’d like to ask you …”

The only reason for answering an objection is to complete the sale. Properly executed, the first four steps have moved your prospect into a position where it is more reasonable for him or her to say yes than to say no.

The most important factor in stimulating action is your confidence. Always assume your prospect is going to buy now. Proceed as if all you must do is settle the few questions of minor importance. Your attitude can make this closing sale easy and natural.

The Close

Presented by Jim Linn

Most advisors do a great job in presenting options to their clients, but when it comes for the most important step – the Close, they dance around it and have no process in place.  Kinder Brothers International has came up with a simple 5 step process to Close the business (see below).


Because closing the sale is so important, we want to bring attention to it again this week. Here’s a quick review of the five-step closing process.

STEP 1 – OWNER BENEFITS. Review with the prospect the highlights of your recommendation. Mainly, you want to cover the owner benefits of the plan you are recommending. You should have at least two to three main benefits.

STEP 2 – ASK FOR FINAL QUESTIONS. “Do you have any questions that I haven’t already answered?”

STEP 3 – STRATEGIC MOVE. Move the recommendation off to one side and pull the application in front of you. Ask two questions such as: “Who do you want as beneficiary?” “Where do you want premium notices to be sent – to your home or your office?”

STEP 4 – GET THE CHECK. Now comes the most important part of selling: “I need your check for $150 for the first month’s premium.”

STEP 5 – COMPLETE THE APPLICATION AND ARRANGE FOR MEDICAL. The way you remember this is to keep telling yourself – get the check, then fill out the app. You don’t want to fill out the app and try to get the check. We want to emphasize at this point that you are going to get the check and then fill out the app.

You can confidently move through the close when you learn and perfect a set strategy.