1. What is your primary advisory specialty, or the focus of your practice?
Long Term Care Insurance.
2. What are the biggest challenges facing you in this market, and how are you addressing them?
Getting people to respond to any kind of communication. In order to overcome that I have started using e-mail more, making partners with other agents, and financial planners who recognize the need for LTC Insurance, but don't feel comfortable with the product. I pay them a referral or split with them, whichever works best. I also started an e-mail follow up system for existing clients, prospects, and referral sources.
3. What led you to focus on the senior market?
Basically, I have a lot of personal experience with LTC in my own family and didn't want anyone else have to face the prospect of last minute planning.
4. What is the best advice you would give to other advisors?
If you don't have the passion for LTCI, partner with someone who does. I also think you need to own a policy for yourself if you are going to sell LTCI.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.