With November being Long-Term Care Insurance (LTCi) Awareness Month – it’s time to make sure you have a plan in place to discuss possible options with your clients. Clients have a varying degree of understanding when it comes to the available options – some are at least familiar with Traditional Long-Term Care, but most aren’t aware of the full range of alternative Long-Term Care solutions.
Whether you currently incorporate LTCi into your practice or are looking to offer clients a complete financial plan, now is the time to get the conversation started.
This year, we are committed to helping you accomplish that goal by offering a Brightbox campaign focused on getting the LTCi conversation started. The campaign is designed to drive awareness, client interest, and increase the cross-selling opportunity within your existing client base.
With 76 million Baby Boomers ranging in age from 55 to 70, the entire Baby Boomer generation now falls within the classical sweet spot for LTCi sales – 80% of LTCi sales happen between the ages of 50-70.
90% of Advisors don’t feel adequately prepared to discuss Long-Term Care planning with their clients. As a result, 9 out of 10 clients that talk about Long-Term Care with their advisors are forced to begin the conversation themselves. Instead, utilize the campaign to begin the conversation and generate client interest – then leverage our dedicated Long-Term Care Sales Representatives to convert interest into placed business.
While commissions range depending on carrier and product, the following represents an average:
- Average Asset Based Case – $100,000 of premium
- One policy per quarter generates $8,000 x 4 cases = $32,000 per year
- Average Traditional LTC Case – $5,000 in premium
- One policy per quarter generates $3,000 x 4 cases = $12,000 first year with a lifetime trail of $1,200 for years 2+
Your clients will never be younger and healthier than they are today. Help ensure they have a comprehensive plan in place by starting the conversation with an automated Brightbox campaign today. There is no better way to remind your clients that you are their primary contact for comprehensive financial planning.
We are here to help with any of your LTCi cases – contact your LTCi Sales & Marketing Manager for guidance.