Long term care is exploding with the Baby Boomers coming of age. As an agent, you need to prepare your clients for this reality. There are multiple ways you can help your clients cover the costs involved. Three of those ways are described below. One option is to use funds that they save over the years. If they are extremely wealthy, this self-funding route may be a good option. The second option is to purchase Long Term Care insurance. This is better than the first, however, your client may not ever use the insurance and feel as though the money they used to pay premiums was wasted. A third option is to purchase life insurance or an annuity with a linked benefit or long-term care rider. This may provide living benefits for chronic illnesses and long-term needs, as well as a death benefit to protect their family. Give me a call at 800-397-9999 to discuss these options in more depth.
Sometimes it benefits your client to have them pay a little more for their term insurance. Check out the short article below: Life Changes. Are Your Clients Prepared? By Rachel Perez, Sales Development Specialist with North American When it comes to helping your clients select a term life insurance policy, you always want to help them find one that’s right for them. With all of the different companies and products out there, how do you choose the best one for your client? You may just focus on price—the cheapest policy wins. But it’s important to remember that not all term insurance is the same. The cheapest isn’t necessarily the best. Convertibility is a very important feature of a term policy. A conversion option is valuable because it protects your clients’ insurability in the future. Life changes, and so may your clients’ health and insurance needs. If they become uninsurable during the term of their original policy, they might still be able to convert a portion or all of their term death benefit coverage to a permanent life insurance plan without showing evidence of insurability. Convertibility isn’t just about term, though. You and your clients must also consider the other products that carrier offers. Discuss the potential products available to your client down the road if they were to convert their term policy to a permanent product. Know the convertibility features of the term products you sell! You can help your clients choose future options and feel confident that you’re helping them select the best term product for their needs—not just the cheapest.
Let’s get back to making life insurance simple. You can now submit term insurance for $500,000 or less and potentially get Preferred Plus rates for your clients without any medicals. We have three carriers that will look at your clients’ information and possibly issue policies in 5-7 days at the best rate available for their situation. Give us a call at 800-397-9999 to learn just how simple this process can be – for both you and your clients!