Editor’s note: This post was originally published on 3/14/17 and has been updated for accuracy and comprehension.
Finishing a puzzle is satisfying.
It feels good to place that last piece after toiling over fitting all the sections together.
You’ve probably never thought of it this way, but the long-term care puzzle is just like that.
People need long-term care to help with the healthcare expenses that often come later in life.
It’ll also lead to more life insurance sales.
Watch the video to learn how to add a long-term care rider to a life insurance policy, so that selling both is a no-brainer.
Keep reading after the video for the full transcript.
Solve the Long-Term Care Puzzle, Increase Life Insurance Sales
If you're already selling life insurance, you'll be interested to know that the long-term care puzzle is easier to solve than you may think.
For a lot of years, the primary approach to plan for long-term care was to sell a client a traditional long-term care insurance policy. But let's face it: The fact is, most producers just don't want to sell long-term care insurance.
However, if you've ever sold a long-term care insurance policy, you know that it's a pretty effective way to cover the expensive cost of long-term care that most people are probably going to need at some point in their lives.
Traditional long-term care insurance also comes with its own set of risks: premium increases and relatively expensive premiums, depending on the plan design. And your affluent clients generally can't buy enough benefit to make it practical.
The good news is that there's an alternative. Over the last several years, we've seen product innovation that now means you can add a long-term care rider to a life insurance policy. So, if you're already selling life insurance, this is a great way to help your clients plan because you're solving two problems with a one-product solution.
There aren't a lot of carriers who offer this type of option but we represent a few quality carriers that do. You'd be surprised at how relatively inexpensive it is to add a long-term care rider to a permanent life policy.
Did this get you thinking about a prospect who you'd like to present this to? Give one of our life insurance sales guys a call so we can show you how simple and effective it is to combine a long-term care rider on a life insurance policy.
You know the puzzle is easier to solve than you think.