You Can’t Handle the Truth!
A Few Good Men
Let’s take a look at the truth about Long-Term Care Insurance.
Most Americans need a long-term care plan. With 7 and 10 needing long-term care assistance at some point in their lives, only 10% have some form of LTC insurance plan in place.
- You need a long-term care plan to control your choices.
- You need a long-term care plan to maintain your dignity.
- You need a long-term care plan so you can afford quality care.
- You need a long-term care plan to maintain your independence.
- You need a long-term care plan to reduce the financial and psychological stress that a long-term care event causes for your family.
Make sure you do this as soon as possible because money pays for long term care planning but health is what buys it.
It has become more difficult to obtain a long-term care plan because the underwriting has gotten tighter.
You should be aware with traditional long-term care insurance, because it’s a guaranteed renewable product, that insurance companies could have a rate increase in the future.
It’s not a guaranteed premium, so in order to do so they have to get approval by the Department of Insurance on a class of people. But it has happened and probably will happen again.
With traditional long term care insurance if you don’t use it, you lose it. It’s just like your homeowner’s insurance, you don’t get a refund if your house doesn’t burn down.
There are other options, so if your clients are concerned about rate increases or losing something they pay for and never using it, take a look at the other options with guaranteed premiums and guaranteed benefits.
Our buying decisions are made in two ways the rational side of our brain has to be happy with the price, comfortable with the quality, like the features of reliability of what they’re buying and any warranties.
On the emotional level, we’ve got to feel good about the purchase. We have to like the way it looks and how it makes us feel. The brand is identified the safety of the product and any fears we have must have been addressed
Look for our next segment, “Why People Buy and Why They Don’t.”