Multi-life LTCI continues to be one of the leading sales opportunities in the long-term care insurance marketplace today. Usually the hardest part of making a sale is finding the prospect, however, a multi-life prospect might be as simple as opening your client files.
Chances are, you already have clients who could be excellent contacts to expand your LTCI worksite business.
Look for existing clients who meet one or more of the following hidden multi-life triggers:
- Owns a business or holds a professional occupation such as an attorney, physician, CPA or consultant
- Holds a high level position or has influence in the executive decision making process
- Runs a successful business that’s looking to offer more benefits to its employees
- Could benefit from the tax incentives of purchasing LTCI with company dollars
- Owns a business with employees who could benefit from discounts and possible underwriting concessions
Keep in mind that your best prospects may be organizations that are willing to pay some or all of the premiums for five or more policies.
Gaining multiple LTCI sales from a single contact benefits you, but what about your clients?
Not only are there a variety of carve-out benefits to choose from; there are additional benefits they should be made aware of:
- Generally not subject to ERISA
- Employer paid premiums are often deductible as an ordinary business expense
- May qualify for reduced underwriting and discounts
- Unisex pricing
To learn more about the multi-life sales opportunity, please contact your LTCI Sales Rep today.