Convincing prospects to buy LTCI requires explaining a lot of important information.
Your goal during the appointment is to provide enough generic education to convince the prospect of the need, while avoiding information overload. Brian Johnson, director of business development at National Long-Term Care Brokers in Albany, N.Y. uses what he calls the “Six Phases.”
Phase 1: Asking Questions. The goal is to get the clients talking. Your questions should help them discover why they need the insurance and the implications of not having a solution. Our job then becomes to show them that LTC protection is the best solution for them.
Questions that are good conversation starters include:
- Why are you interested in LTC?
- How did you become interested in investigating LTC insurance?
- Have you looked at other LTC plans?
- Tell me about your family. How old are your parents? Do you have brothers and sisters? What do your kids do?
- Has anyone in your family ever needed care?
Phase 2: What is LTC? Use both a traditional definition and a practical one. Example: To better understand long term care, think of the activities you performed when you woke up this morning: Climbed out of bed, walked to the bathroom, used the toilet, bathed or showered, dressed and ate breakfast.