Long Term Care and Disability Insurance

Pie Choices

Presented by Donna Ries When talking long term care to your clients, are you offering Apple or Chocolate Silk Pie? When talking about funding your clients’ potential extended care needs, they may be faced with a variety of options.  Think of it like offering your clients a variety of pies.  They may have choices such as apple, cherry or French silk.  One pie is not necessarily better than the other, they are just different.  Of course, they have different prices. Just like the pie choices, long term care options for your clients can be offered with different features.  Fitting the product and features to your clients’ needs is what’s really important.  There are hybrid or linked products with a life insurance base and a long term or chronic illness rider.  Maybe it’s an annuity with a long term care component.  Some clients may choose to fund their long term care expenses with an accelerated death benefit.  Again, not necessarily better, but certainly different. There is also the traditional stand-alone long term care policy.  Think of this as the basic apple pie.  Depending on the clients’ needs, enhanced benefits can be added to the plan to satisfy the “appetite” of your client.  Just like the apple pie can have a slice of cheese, ice cream or whipped cream (tailoring to the individual’s taste) purchasing pure insurance coverage without a large infusion of premium on the front end, is again, just choices. The important issue here is not “pitting” a life insurance plan against an annuity or traditional long term care insurance – it’s getting your client to purchase something.  Which pie is best for your client in determining their long term care needs?  Find out what features or ingredients are most important to your client, what is affordable and what will be sustainable.  Contact your Financial Brokerage sales manager today at 800-397-9999 to help you with your next long term care sales solution for your client.