Selling LTC: Your Vantage Point is Your Opportunity

Many of your clients believe that Medicare and Medicaid will cover their long-term care needs. However, relying on these government run programs will most likely leave your clients and prospects without the level of care they need or expect. If your clients eventually need help with activities of daily living like eating, bathing, getting dressed, getting around or personal hygiene, Medicare or Medicaid won’t cover those services. Only private long-term care insurance will help them pay for that. 

It’s important for you to learn what your clients know about long-term care and if they’ve thought about how they would want to be cared for if the need arose. Recent data shows that clients want to talk about long-term care with their families, but they tend to fall short. A recent Lincoln study found 97% of Americans surveyed agreed that families should be talking about long-term care before it’s needed. However, for reasons that range from misinformation to individual feelings toward caregiving, many fail to initiate the conversation. Without this knowledge, it’s almost impossible for you to help your clients plan properly. 

You have the vantage point to be a catalyst for leading the long-term care conversation.

November is Long-Term Care Insurance Awareness Month, and the prefect time to facilitate the long-term care discussion. According to the 2021 Insurance Barometer Study conducted by Life Happens and LIMRA, the top financial concern for 25% of Baby Boomers is paying for long-term care services if they can’t take care of themselves, and more than a quarter of Millennials want to talk to an advisor about long-term care insurance. Nevertheless, only 18% of people own some type of long-term care insurance, and the market for long-term care coverage continues to grow as the population of older consumers increases… This is your opportunity!

You don’t have to be a long-term care insurance expert because MVP Financial can help. Contact a representative today and check out our long-term care resources to assist you with getting the conversation started.