Thought for the day:
“My choices in life were either to be a piano player in a whore house or a politician. And to tell the truth, there’s hardly any difference.” Harry Truman.
If you will read no further:
How many clients/prospective clients have you visited with this past week? How many times did you bring up the subject of long-term care planning? Sooner or later you will talk to each client about long-term care. But if you don’t bring it up now, the conversation will invariably be about what to do now that they are sick and looking forward to writing big checks for care. Which conversation would you prefer to have? What have you done about your own plans for LTCi? Read this short newspaper article when you get a moment …just one of dozens of articles in the press each day.
Thought for the day:
30% OFF SALE
ON LTC INSURANCE FOR SINGLE FEMALES.
Because females represent the majority of claims, the major LTCi carriers will begin rolling out their new gender-based pricing which will increase female rates by 20% – 40%.
I just got off the phone with a friend of mine that wants to purchase some form of long-term care insurance. She is not a client. She has a financial planner. She and I talked about her acquiring LTCi for herself and her husband about 2 ½ years ago when they were in their middle 50’s. She thought it might be a good idea but kept putting it off. This morning she told me her husband has been diagnosed with Parkinson’s and she is suffering from two broken shoulders as a result of a fall. Why such an injury? She has osteoporosis; didn’t know it until the fall. Now she would like to act quickly to get insurance. I’m thinkin’ her chances of success or slim at best.
To look at her you would never suspect any problems, but it is very likely she will end up spending the majority, (if not all) of her wealth on care someday…her words, not mine. Over 60% of us will write checks for some form of nursing care for some period of time before we die. The only other single life event with a greater chance of occurring… is dying.
It has been five years since the last stock market meltdown. We are coming up soon on the next one. Careful investors are putting trailing stops on their stocks. It’s only a matter of time. Wouldn’t it be great if you took $100k off the table and “invested” it in to a linked-benefit policy, secure a significant benefit for your client and let them know that after the collapse, they can take it all back out and invest it elsewhere if that is their choice; not likely since they will have experienced the peace-of-mind knowing that they have a strategy in place to minimize the financial impact of future cost of their care.
If conventional LTCi is more appropriate for your client, you need go no further than Westland where we will design the case for you, help present it if desired, take the application and send you the policy ready for delivery.
Transamerica has announced their new product roll out beginning September 10, and we expect many of the other carriers in our portfolio to implement by year end. Now is the time to talk to your clients. The time is always short between the carrier announcement of the new product and the ability to submit applications on the current product series. This is a one-time opportunity. It would be a shame for people to potentially miss out on thousands of dollars of premium savings, so make your clients aware now.