The Difference is in the Policy

Don't avoid discussing Long Term Care (LTC) products with your clients, especially not during the month of November. As an adviser, you should be using this month as your opportunity to start educating your clients and prospects about the importance of including this vital coverage in their

financial plan.

Over the past several years, traditional LTC products have struggled due to increasing premiums. At the same time, combination policies for LTC and Life or Annuity have been gaining in popularity.

According to the Journal of Financial Planning, traditional LTC plans are still cheaper than combination plans. It stands to reason that a product that does one thing compared to a product that doubles up would cost less.

The "use it or lose it" scenario of a traditional LTC policy causes the combination policies to look very attractive. For many advisers, explaining that a policy can provide both the LTC benefit and a death benefit is easy, and with that kind of flexibility your clients can see their money working for them. Education for yourself and your clients is key to the sale.

If you are not sure how to get the LTC conversation started with your clients, MVP can help. Visit our website, www.mvp4me.com or contact us.