Asset based long term care is specifically designed for your clients who would rather self-insure their potential long term care needs. These folks feel they have enough money/assets to “weather the storm” and the thought of buying traditional long term care simply does not make economic sense to them. There are two keys to selling asset based long term care – identify the right prospect and identify the asset your prospects plan on using in the event a need for long term care arise. Here is a profile of a good prospect:
· Successful, independent and very proud of it
· Assets of at least $250,000
· Between the ages of 55 to 75 – ideally
· In reasonably good health
· 67% of asset based LTC sales are to women – they get it loud and clear
· Currently self-insuring (by choice or default) and they feel traditional long term care is a waste of money
Identifying the asset your clients plan on using for their potential long term care needs is equally important. Once you have the right prospect, here is the key question you need to ask: “Mr./Mrs./Ms Prospect, if you got sick or hurt tomorrow and needed long term care assistance, which asset would you cash in first? Pay attention – don’t say a word, just listen. The asset they identify is the one you will be targeting as your asset based LTC premium source. Once you have identified the asset, the war is over. You can now easily win this sale because your asset based solution is not viewed as an additional cost but as a smarter- more efficient way to self-insure. The answer typically received from your prospects will be funds they own that are liquid and accessible – not the family farm or from their investment portfolio.
Our most popular asset based LTC solutions come with a lifetime free look and are 100% liquid and accessible upon surrender. All asset based LTC products are not created equally. Call us to help you navigate the asset based LTC maze to find the right product for your self- insuring LTC prospects.