The Best Sales & Marketing Ideas: LTCI Sparks

The staff of Senior Market Advisor has compiled a list of 100 of the best sales and marketing ideas shared by SMA readers.

Here is a look at a few of the ideas that seem as if they could help a long-term care insurance (LTCI) producer do more to help consumers protect themselves against long-term care risk.

The letter

When giving an LTC presentation, most prospects will come up with some objection.

Prepare in advance a typed letter to yourself, to be signed by the prospect (and spouse, if applicable) that you have presented the facts to them, but they have chosen to self-insure and carry that risk themselves. In addition to that, they hold you harmless should a prolonged nursing home stay destroy their assets.

Furthermore, since they have refused to consider the coverage, their children have no recourse against you as their financial planner for not covering a very expensive risk for them.

Most prospects will read the letter, think about it while you remain silent, and then agree to apply for coverage. If they actually sign the rejection letter, wait two weeks and then send them a copy for their files and an additional copy for each of their children. Follow up with a phone call.

—H. Wallace Garrett

Talk radio

The very best marketing tool that I have used for the past three years is being involved with talk radio. I have a 30 minute call-in show once each week and run three or four 30 second ads daily Monday through Friday. My sales have doubled (and then some!) in the three years that I have been on the air.

—Dee Carter

The old-fashioned way

My best sales idea is to conduct my appointments the old-fashioned way. No computers, no cell phones — just paperwork and personal interaction.