What Stats Resonate with Prospects?

[Brian Anderson]

A new Forbes piece this week (link below) – it’s no secret most people rely on (or plan to rely on) family members to provide LTC-type services (roughly 70% according to HHS). But the pool of caregivers is shrinking. A new AARP study says the ratio of potential family caregivers to high-risk people in their 80s will decline from 7 to 1 in 2010 down to 4 to 1 in 2030.

Changing Family Caregiver Dynamics Ramp Up the Importance of Long-Term Care Planning - Forbes

Obviously nothing that will move the needle when it comes to LTCI sales, but perhaps another statistic to add to the case for buying it? LTC specialists, do you use lots of stats in your presentations, and if so, which ones resonate most with prospects?

 

[Mr_Ed]

A new Forbes piece this week (link below) – it’s no secret most people rely on (or plan to rely on) family members to provide LTC-type services (roughly 70% according to HHS). But the pool of caregivers is shrinking. A new AARP study says the ratio of potential family caregivers to high-risk people in their 80s will decline from 7 to 1 in 2010 down to 4 to 1 in 2030.

Changing Family Caregiver Dynamics Ramp Up the Importance of Long-Term Care Planning - Forbes

Obviously nothing that will move the needle when it comes to LTCI sales, but perhaps another statistic to add to the case for buying it? LTC specialists, do you use lots of stats in your presentations, and if so, which ones resonate most with prospects?

zero stats.

 

[ltcadviser]

A new Forbes piece this week (link below) – it’s no secret most people rely on (or plan to rely on) family members to provide LTC-type services (roughly 70% according to HHS). But the pool of caregivers is shrinking. A new AARP study says the ratio of potential family caregivers to high-risk people in their 80s will decline from 7 to 1 in 2010 down to 4 to 1 in 2030.

Changing Family Caregiver Dynamics Ramp Up the Importance of Long-Term Care Planning - Forbes

Obviously nothing that will move the needle when it comes to LTCI sales, but perhaps another statistic to add to the case for buying it? LTC specialists, do you use lots of stats in your presentations, and if so, which ones resonate most with prospects?

Absolutely zero stats. In fact , if you discuss liklihood of needing care, you will never connect with a client. At all. Do not use any stats whatsoever. Clients move forward with long term care planning because they want to be responsible and not burden loved ones. And by god, do not use a presentation. Just have conversations with people. Listen, ask questions, listen some more, complete application.

 

[abacusadvisors]

Great advice, ltc is def a comfort product for clients and statistics make clients everything except comfortable!

 

[Mr_Ed]

Absolutely zero stats. In fact , if you discuss liklihood of needing care, you will never connect with a client. At all. Do not use any stats whatsoever. Clients move forward with long term care planning because they want to be responsible and not burden loved ones. And by god, do not use a presentation. Just have conversations with people. Listen, ask questions, listen some more, complete application.

best post ever in the LTCi Forum.

well said, Jack.

wish I could write like you.

 

[Arthur Rudnick]

Totally agree with both Jack & Scott!

Wait, did I say I agree with Scott on something? Must be a mistake.

 

[Mr_Ed]

Totally agree with both Jack & Scott!

Wait, did I say I agree with Scott on something? Must be a mistake.

Scott who?

 

[Arthur Rudnick]

Previously posted by Mr_Ed

Scott who?

Sorry, I was referring to Mrs. Ed...................

 

[Stephen]

Every person that has ever started an LTC conversation with me has had either a parent or in law that required some type of custodial care.

 

[ltci4sure]

Stats have an underside. As someone said "There are lies, damn lies and statistics" ( Wikipedia entry on that )

When you tell someone there is a 70% chance they'll require LTC at some point during their lifetime, it rings hollow for a lot of people. Much easier if they had exposure to it, and even then some people would rather play dice. Fueled by deceptive press, some adopted an attitude that there is no point in LTCi since insurance carrier will find a way to dispose of the claims once they've collected 30 years worth of premiums, or force client to cancel by raising rates beyond what is affordable at some point in the future. No stats will help with this.