long-term-care-insuranceNovember is Long-Term Care Insurance Awareness Month. This November, increase your awareness of the value of long-term care insurance to your practice.

# 1 – Industry-wide improvements to product and premium

Unaffordable premium and the potential for future rate increases are two of the top three reasons producers avoid long-term care insurance. Last year, the average long-term care insurance policy annual premium was $2,200, a six percent increase from 2013. Looking strictly at the history of LTCi, its certainly an understandable position. But wait … the times, they are a-changing.

Industry experts predict by year-end or first quarter 2016, carriers will be introducing more affordable products. The market will see products with shorter term or limited term benefit options. Some products may take on a Universal Life feature by offering internal policy value crediting as an option to reduce premium.

#2 – Significant income potential

The most successful producers present long-term care insurance as a component of retirement planning. It becomes part of a holistic conversation about financial security in retirement rather than a transactional, product-centered sale. Insurance-centered advisors who selling long-term care insurance earn on average, $30,618 in annual sales revenue, accounting for 17 percent of income.

#3 – Product training and support

The number one reason producers decline to sell LTCi is insufficient product knowledge. Yet research shows that long-term care insurance is not a niche product. Actually, more than 90 percent of advisors sell some form of long-term care insurance. Even producers working in this market desire to learn more about the product, pricing, and underwriting.

DIS has you covered. Our producers are offered as much or as little training as they desire. We provide one-on-one support from beginning to end, providing product knowledge, hands-on sales support and case management from quote to issue. With DIS as your LTCi product expert, there’s really no reason not to talk to your clients about the need for long-term care insurance.

Long-term care insurance can be as easy as 1, 2, 3. To get started, download The Ultimate LTCI Case Design Resource. Or just want to talk it over? Call us. We can help you easily incorporate LTCi in your practice.

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