Many agents believe there is no place in their current practice for LTC insurance. This can be attributed to a variety of factors. The most likely objection is simply looking at the “averages” and claiming this doesn’t appeal to the masses. Why purchase insurance in something you may never need? Another common barrier to entry when starting the LTC conversation is the bad reputation the traditional, stand-alone policies have earned. Some agents aren’t willing to pursue new opportunities, and would rather use the detriments associated with past products to misrepresent what is currently offered. Although both of these arguments have substance, the ultimate goal for the advisor should be putting the client’s needs first, and providing them with the best possible solution.
This process begins with keeping an open mind as it relates to what products are available, and how they can both protect and promote growth in an already successful practice. Once this is established, one begins to realize these hybrid products far exceed expectations, and are much more comprehensive as it relates to portfolio management and wealth protection.