Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Health Insurance > Your Practice

LTC Almanac, part 2

Your article was successfully shared with the contacts you provided.

Q. I want to significantly increase my sales and income this year. What suggestions can you provide to start me on the road to make that happen?

A. Me too! For the last three months I have been meticulously scrutinizing my successes and failures in this area and identifying how to increase my own sales by a significant percentage.

As part of this laser-focus analysis, I have been reviewing some studies for suggestions. So here are two strategies I have added to my To Do list.

Strategy 1 – Use the KISS method – keep it simple.

With so many facts swirling in our heads – and so many moving parts to these policies – I continually have to remind myself to keep my presentation simple and very focused. That’s why I frequently review these study results.

What do consumers who are considering LTC value most when working with financial professionals?

  • Makes the options clear and easy to understand – 46 percent.
  • Is very trustworthy – 43 percent.
  • Understands my needs – 37 percent.
  • Saves me money – 33 percent.

Strategy 2 – Using power sprinkles (my new phrase)

These are facts that I sprinkle throughout my presentation and in casual elevator comments.

The first set pertains to the most important reasons for long term care planning, which I discuss at the beginning of my client meeting. If they don’t believe that they need this protection, the sale is not going to happen.

I use the information I gleaned throughout the rest the presentation. (I have included the number as a FYI – when talking about this, I am using such words as most or many.)

  • To not have to be a burden on my family - 65 percent.

The biggest worries were:

  • Putting financial pressure on my family - 58 percent;
  • Interfering with the lifestyles of my family members - 44 percent;
  • To be able to afford quality care in the setting I choose - 51 percent;
  • To protect my spouse’s or loved one’s quality of life and future security - 48 percent;
  • To protect my assets - 23 percent.

The second set of sprinkles pertains to caregiving. Many of my prospects are now witnessing firsthand the challenges of caregiving – whether it is their own parents or relatives or friend’s parents. The beginning of my presentation includes asking questions about their caregiving experiences.

These facts can be used for sprinkling:

Primary Caregivers(2)

  • Average age: 53
  • 42 percent care for a mother;
  • 14 percent care for a father;
  • 12 percent care for a spouse.

Financial Impact(2)

  • 88 percent said their household income was reduced by an average 34 percnet due to their long term care event;
  • 60 percent reported a need to cut back on family expenses after a long term care event;
  • 63 percent reduced their savings by an average 61 percent.


  1. “Our Family/Our Future – The Heart Of Long Term Care Planning,” Genworth Age/Wave Study, 2010
  2. ”Beyond Dollars,” Genworth Study, March, 2012

Want more helpful facts to sprinkle throughout the LTCI conversation? To download an additional article, please visit my website. 

See also:


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.