Imagine learning that a client — we’ll call him Larry — was just diagnosed with Alzheimer’s disease. You’ve sold life insurance policies to him and his wife and discussed annuities, but you never brought up long-term care insurance (LTCi). The thought of selling what you perceived as a complicated, expensive product always has made your head spin, and Larry was visibly uncomfortable during discussions about end-of-life issues.
“Why go there?” you thought.
But now you know why.
The high cost of a specialized Alzheimer’s facility will deplete the couple’s retirement savings within a few years and threaten to drain their other assets. How will Larry’s wife make it through this difficult journey?
Selling LTCi is no easy task in today’s environment, but it’s also becoming increasingly important as people live longer and the costs of extended care rise. The number of Americans with Alzheimer’s disease and other dementias also will grow as the U.S. population age 65 and older continues to increase. By 2025, the number of people age 65 and older with Alzheimer’s disease is estimated to reach 7.1 million — a 40-percent increase from the 5 million age 65 and older currently affected, according to the Alzheimer’s Association.
A new Senior Market Sales white paper addresses the obstacles of selling LTCi but also explains how to overcome them and why it’s more important than ever to talk with clients about extended care. The white paper, “Conquering the Challenges of Selling Long-Term Care Insurance,” also explains one of the fastest growing LTCi solutions — “linked” or “hybrid” LTC insurance. These are life or annuity chassis policies with accelerated death benefit riders, and more often than not, feature a single-pay premium.
Our marketing consultants are LTCi specialists and can provide the support needed to provide the best solutions for your clients regarding long-term care.
To speak to a marketing consultant, call 1-888-456-8884 Option 4.