Long Term Care and Disability Insurance

How to Choose a Long Term Care Carrier

Presented by Michelle Daharsh When it comes to selecting an LTCi carrier today, you certainly have lots of choices. Most carriers offer a basic foundation of benefits that look fairly similar from company to company, so how do you make a choice and recommendation to your prospect? Here are three characteristics to consider when making that choice: 1. Contemporary, Innovative Products Look at carriers that offer competitive features that set them apart from the competition. Features like cash benefits, streamlined underwriting, calendar day elimination period, and waiver of elimination period for home care claims are just a few of the many and important options available. 2. Competitive Pricing Do your research and find the products that are competitively priced. Age, health and whether the prospect has a spouse or partner all become critical information in your selection for a recommendation to your prospect. Providing your prospect with the best products for the best value is critically important. Each carrier has their own “sweet spot”. Some examples of “sweet spots” can be competitive pricing at certain ages, partner allowances, multiple inflation options, and underwriting risk. 3. Financial Strength and Stability In the past it wasn’t much of a factor what the ratings of a carrier were. We have fewer carriers now in the market and the rate instability has shown that carrier strength is very important. Working and placing your prospects’ business with a financially strong carrier becomes even more important. Carriers with a history of remaining competitive, stable and secure even in tough economic times will most likely prove that they are able to meet the needs of your prospect in the future. Also, look for carriers that maintain high ratings from industry rating organizations. So whether it is the competitive pricing of a product or the financial strength of a carrier, Financial Brokerage is equipped to provide you with the resources and knowledge you need in making the best decision with your prospect and their long term care insurance coverage.
Life Insurance

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). HOW TO CLOSE 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.