Why so dead in here?

[fla2cali]

Where are all the LTC producers? I would like to hear some of your experiences.

Example...

What brought you to this market?
What is your age? Does it play a factor in the market for you?
How did you get started? Were you captive, started on your own, or did you start with an independent firm?

I saw an article about using signs (like in the ground) as a marketing campaign for LTC. Or signs on your vehicle. I think it may be a little tacky but, it could work to get a few leads you don't have to work so hard for. It worked for me for health insurance. But obviously ltc is a bit more serious, and is a major part of a persons retirement planning. Anyway, would like to hear from everyone. Thanks.

f2c

 

[dvd493]

Many, many years ago I tried my hand with Medicare and LTC. That was very short lived since I wasn't able to make a living but one thing I did notice was when the people I saw wanted to talk about LTC they were in there 70s and the premiums were so high it was nuts.

These days there are wealth transfer vehicles. Americo has a single pay product that can almost triple what you put into it up to a certain dollar amount and up to 80% of it's value can be used for a nursing home or borrowed against. It seems more likely that an elderly person would do a single pay on there savings instead of having to fork over 700.00 a month on LTC premiums.

Of course you can only get it if you are in fairly good health and it's only issued between the ages of 55-75 but, it is fairly flexible. It seems like a good idea since seniors are on a fixed income but have savings set aside.

 

[fla2cali]

These days there are wealth transfer vehicles. Americo has a single pay product that can almost triple what you put into it up to a certain dollar amount and up to 80% of it's value can be used for a nursing home or borrowed against. It seems more likely that an elderly person would do a single pay on there savings instead of having to fork over 700.00 a month on LTC premiums.
.

Dvd,
Thanks for the comments. Are you primarily in the annuity market then?

 

[dvd493]

No, I do mortgage protection but just found out about this product from Americo called "Lifetime Legacy". It seems like a nice way to increase a seniors holdings. A lot of them seem to have cash in the bank and don't have a place for it. I'm thinking many would like to get an immediate 280% return if they could. Especially since it can be passed on to their heirs usually tax free. I havn't sold any yet but I am ready for when the opportunity comes along.

 

[fla2cali]

oh i see.. interesting. Keep me posted on that. I would like to hear how that turns out for you.

f2c

 

[L5tc]

NYL has similar product

Asset Preserver

The underwriting requirements are stringent as you have to go through Life and LTC underwriters.

Usually most of the people who inquire are people who aren't insurable or their kids are trying to get coverage for parents who aren't insurable.

Genworth's internal lead system seems to be the best at getting decent leads in their captured LTC agents hands. I don't even understand why it works so well. The agents don't necessarily like the system because the commission is but severely if you sell a Genworth lead.

 

[fla2cali]

Re: NYL has similar product

Asset Preserver

The underwriting requirements are stringent as you have to go through Life and LTC underwriters.

Usually most of the people who inquire are people who aren't insurable or their kids are trying to get coverage for parents who aren't insurable.

Genworth's internal lead system seems to be the best at getting decent leads in their captured LTC agents hands. I don't even understand why it works so well. The agents don't necessarily like the system because the commission is but severely if you sell a Genworth lead.

Not sure I understood this last part. "agents don't necessarily like the system because the commission is .. but... severly.. if you sell a genworth lead"

Are yo saying Genworth captives commissions are severally low, if they use a genworth lead?

Asset Preserver is that one of their products. I'm just getting into this side of insurance, so I'm still learning everything.

L5tc, how long have you been in this market?

f2c

 

[James]

I've never dealt with Genworth, how do they classify the assistance part of ADL's? You have some companies such as Golden Rule using "standby/substantial assistance", while others use the more traditional use of "substantial assistance/standby". I have stop using Golden Rule products because of this, those little contractual language tells all about the mindset of the Carrier and their ideas of actually paying claims.

 

[fla2cali]

I've never dealt with Genworth, how do they classify the assistance part of ADL's? You have some companies such as Golden Rule using "standby/substantial assistance", while others use the more traditional use of "substantial assistance/standby". I have stop using Golden Rule products because of this, those little contractual language tells all about the mindset of the Carrier and their ideas of actually paying claims.

James, good point. I would how something like that would make a huge difference. How long have you been in the LTC market? Is it your main product?

f2c

 

[James]

I've never dealt with Genworth, how do they classify the assistance part of ADL's? You have some companies such as Golden Rule using "standby/substantial assistance", while others use the more traditional use of "substantial assistance/standby". I have stop using Golden Rule products because of this, those little contractual language tells all about the mindset of the Carrier and their ideas of actually paying claims.

James, good point. I would how something like that would make a huge difference. How long have you been in the LTC market? Is it your main product?

f2c

Not long and no to being my main product but hopefully it will take on more of my time as time goes on. Yet as others suggest, read the damn contracts! All carriers will send sample contracts upon request and if they don't, do not write them.