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The Long-term Care (LTC) family of products includes coverages for nursing homes, adult day care, home health care, assisted living facilities, and other related benefits. LTC has unique qualities, and there are many variations among the carriers.
LTC isn't a new concept. The coverage has been around for decades, but only recently has it been widely discussed. With the new wave of interest in LTC, sales took off slowly, built up, and then leveled off. All of this activity adds up to this picture: A large number of LTC prospects have heard about the product but haven't yet bought it. Why not?
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LONG-TERM CARE INSURANCE: NOT FOR SENIORS ONLY! Imagine an insurance product that your clients will keep for 20 or 30 years, or longer, while continuing to pay you generous commissions...
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Today, the Long-Term Care insurance (LTCI) industry is maturing from its infancy and growing into a more stable product. In this document, Gary Katelman examines the changes that are occurring in Long-Term Care insurance.
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LTC COVERAGE COMES OF AGE Generations ago, aging parents who could no longer take care of themselves went to live on a dutiful son or daughter's farm. Today, adults live a lot longer afte...
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MARKETING PLAN: MODULE II INTRODUCTION You have five basic options regarding the structure of your Life operation. Each offers distinct advantages and drawbacks-d...
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MAXIMIZE THE CROSS-LINE SELLING OPPORTUNITY IN YOUR AGENCY by Harlan Warthen Maximizing the cross-line selling opportunity in your agency can generate thousands of dollars in new busine...
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Gunther Gunderson had doubled the sales staff in his ski shop. Heidi Svenson, the shop's thermal underwear buyer, suggested that Gunderson might save money and take charge of his employees' medical insurance coverage by opening a Medical Savings Account (MSA). Gunderson was skeptical until Svenson showed him Section 105 (h) of the Internal Revenue code which allows employers to start MSAs for their employees' welfare.
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Motivation is tied closely to compensation, but the two are very different. Compensation is simply one form of motivation. There are many forms, all of which should accomplish one thing: encourage producers to sell and make them feel good about what they're doing and where they're doing it. A good motivational environment will help both Life and P/C producers. You should have a motivational atmosphere for your CSRs, as well. You should maintain a high recognition level in which all agency members can participate.
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MUTUAL FUNDS: MODULE V-I OVERVIEW By now you've probably heard a great deal about mutual funds. So have many investment-minded members of the public. But, while ...
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According to an old axiom, keeping an existing customer is much more profitable than spending money going after new prospects. While that's generally valid in any business, it seems especially true in P/C agencies, particularly when management recognizes dozens of related financial services that can flow through a P/C book of business.