Fact Finder/ Needs Analysis

[jmhalvo]

I'm an independent who focuses on health and Medicare stuff; however I've had several referrals amd current client show want me to write stand alone LTc. Any thoughts on a needs analysis, form I can Create, survey they circle to help narrow down their interest or help guide me in conversations? Sent from my iPad using InsForums

pass it off... There is a good likelihood that they won't buy, but if they try the und process will often be a pain. Let the other rep take that flak. Not worth it unless you plan to go into that line "all in"- even then questionable

 

[ltcadviser]

Thank you!

Sent from my iPad using InsForums

----------



Yes, that is correct.

Sent from my iPad using InsForums

----------



Great point. One I have debated with myself. Do I become a jack of all or an expert in about 4 lines....health (under 65, over), disability, life
I have some good relationships locally with guys who offer LTC and I've debated just sending to them.

Sent from my iPad using InsForums

Feel free to call me for help as well, if you need help. I have a North Carolina license.

 

[Bob_The_Insurance_Guy]

previously posted by huntassurancegroup



The biggest concern is not about educating your client, it's about educating yourself on LTCi.

If you're new to the product, you're better off finding a LTC specialist and handing off your referral for a split.

This is sage advice. Swallow your pride and ego, learn, split the commission, and grow. Your client will appreciate the effort, and the honesty.

 

[Justin Bilyj]

I usually ask about their income, assets/net worth, debt; expected date of retirement; retirement location; children, location of children, reason for thinking about ltc; personal experiences with ltc, current health, what they want their plan to do for them, ..that's about it, really...i just take notes on a legal pad. Then submit their application.

This is a great post. By any chance do you close the application as a takeaway close i.e. "let's see if you qualify..."?

 

[Mr_Ed]

This is a great post. By any chance do you close the application as a takeaway close i.e. "let's see if you qualify..."?

I'm sure Jack would NEVER do a "let's see if you qualify..." close.

That is a TOTAL WASTE OF TIME AND MONEY.

Don't ever do that.

 

[ltcadviser]

This is a great post. By any chance do you close the application as a takeaway close i.e. "let's see if you qualify..."?

NEVER. EVER. Why would anyone do that?

I only write applications for clients that are committed 100% to wanting coverage. I simply do not have the time to waste. Nor do my underwriters.

----------

I'm sure Jack would NEVER do a "let's see if you qualify..." close.

That is a TOTAL WASTE OF TIME AND MONEY.

Don't ever do that.

Lol. I didn't scroll down and see your reply until after I answered EmptyEternity's post. Too funny. You know me very well, Scott!

 

[Mr_Ed]

NEVER. EVER. Why would anyone do that?

I only write applications for clients that are committed 100% to wanting coverage. I simply do not have the time to waste. Nor do my underwriters.

----------



Lol. I didn't scroll down and see your reply until after I answered EmptyEternity's post. Too funny. You know me very well, Scott!

anybody who uses a "let's see if you qualify" approach, does NOT place very much LTC insurance. they just waste their time and money and the carriers' time and money.

I knew a guy who always talked about how much premium he submitted every year. He submitted about $150K in premium but only placed about $30K in premium. I am NOT joking.

His whole approach was, "let's see if you can even qualify. you may not be able to qualify. and if you qualify, then you can decide if you want to keep it or not."

gimmeafreakinbreak!

 

[Justin Bilyj]

I knew I was gonna get swatted for that....but I just couldn't help myself!

 

[CALTCAgent]

I would not do the "medical close" as my first approach. Not the ideal.

 

[ltcadviser]

I am going to have to disagree with the above posts. I am not an online guy, so maybe that is a distinction. Anybody tells you their presentation is so great that people have no hesitancy is simply blowin smoke.

That being said, I would not do the "medical close" as my first approach. Plenty of apps have been placed with this approach. Once again, not the ideal.

Online, face-to-face....does not matter. I don't have a presentation. I just have conversations. My clients tell me that they want to apply. Or they tell me to stay in touch. Personally, I do not care what their choice is. It is their life and their decision. I am happy that I have coverage. And if they want coverage, I am happy to see them through the process. Either way, if they are not committed to buying an issued policy I am not committed to submitting their application. I have told clients this too. Clients will actually respect you more if you tell clients that you do not wish to waste your time or your underwriters' time.