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How to sell LTCI online

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Q I’m hearing that some agents are selling long-term care insurance (LTCI) over the Internet. How do they do it? Do you have any pointers I should follow?

A. Baby boomers and even prospects in their 70s who are computer-savvy want information fast and with no perceived pressure.

Amy Pollock, an LTC Specialist with LTC Financial Partners, has been selling online since 2005. She finds that selling via a live meeting with screen sharing is efficient and very well received. She uses a private online website where prospects view her screen on their computers. If they have a speaker phone, they can watch and listen hands-free. Connectivity is simple.

Here’s what she does when calling a prospect. 

1. Schedule the appointment.

One of her key talking points is, “There is a lot to know about long-term care. This is not like any other kind of insurance where you choose plan A, B or C. Here you have quite a number of options. Understanding how to make the right choices for your needs is most important. One of the biggest mistakes buyers can make is to overbuy coverage and spend more money than necessary. My job is to help you not to do that.” 

Then, review their health and ask for the appointment. Always tell people what to expect. Explain, “Here’s how the process works. We will set an appointment for a private online meeting with you both. It will take about 45 minutes to one hour. Once you log on, we will use screen sharing. I’ll show you how LTCI policies work, what options are available and how to trigger the benefits. Then we’ll do side-by-side comparisons of costs from all the top companies. We can even design a plan to fit a specific budget. When we are finished, you will be able to make a good decision for yourselves. Sound fair?”

Then schedule when to meet, making sure that sure that husband and wife are both on board. 

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2. Confirm the appointment. Amy always emails an appointment confirmation, repeats the meeting agenda and includes the website link with log-on instructions. The email closing line is, “I look forward to working with you (both) and helping to plan for your long-term care issues.”

3. Conduct the appointment. To begin the meeting, the clients click on the link, and Amy provides the session key. They jointly view her PowerPoint presentation. The presentation is focused, concise and does not include many statistics. She speaks slowly, lowers the pitch of her voice and pauses periodically. Her photograph is on the first slide.  

Next month–Part 2 about selling on the Internet.

For more from Margie Barrie, see:

Who buys LTCI? 

The two mistakes

Joyce Ruddock: In memoriam