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How To Choose Clients Who Want to Plan for LTC

Stephen Denton   |   June 2021   |   2-minute read

When you believe in something, you talk about it. To everyone. Some clients seem to embrace it. Others seem to blow it off. That can be hard, but it seems to be the nature of our business.

For us, that conversation is long-term care planning. We understand why having a plan for the future matters so much. Sometimes it’s hard for clients to grasp. But it’s something we believe in strongly, and a message that we’ve worked hard to share. You may have brought up the topic with your clients and gotten mixed results.

So, when we say have the conversation with everyone, we mean it. But rather than blindly bringing up the need for an LTC plan, it makes sense to start with the clients who will be most receptive to what you have to say.

Not sure who those clients are? Start by looking at their ages and determining which stage of life they are in. In each group, your most likely prospects will share some of the same characteristics.

The common thread: At any age, your strongest prospects are those that have seen first-hand a loved one experience a long-term event. They’re planners. They believe in insurance products and the protection they offer. And they can afford to purchase those products.

In Their 40s

For this age group, start with high-income earners who are helping parents or grandparents prepare for an emergency. They are dedicated planners who already have life insurance, potentially with high cash values.

Most likely, these clients will seek you out to discuss LTC. The strategy with clients in their 40s is to remind them that buying young costs less and allows for fewer hurdles when it comes to underwriting.

In Their 50s

Your most likely candidates have substantial assets they don’t want to risk losing. They’ve saved and planned. They might be currently helping their parents through a long-term care event, but they no longer have children dependent on them at home.

When approaching these clients, talk about the need to be proactive. Underwriting should still be relatively smooth. Plan to have more than one appointment with them. Use a strategic approach.

In Their 60s

Focus on clients that have enough assets to fund a long-term care plan without invading their retirement income. Look for clients who are relatively healthy and who have idle assets earmarked for an “emergency.”

The message for clients in their 60s is to act before they need extended care. It’s easy to start the conversation because it’s already front of mind for these clients. Let them know you can help reposition idle assets to cover a possible long-term care need and possibly leave a legacy for their grandchildren.

Once you’ve identified who you want to talk to, reach out to your Ash LTC team for strategies and solutions. We’ll help you create a plan that fits each individual, no matter what stage of life they are in. There’s only one thing you have to do: Just Ask.

About the Author

As an LTC Specialist for Ash Brokerage, Stephen is committed to helping advisors have long-term care conversations with their clients. Prior to joining Ash, Stephen earned a Bachelor’s in Finance from Rowan University as well as his Series 6 and 63 and life and health licenses. He spent 10 years in the mortgage industry in both sales and operations before transitioning to Lincoln Financial in 2007, where he worked for 14 years as an internal wholesaler for linked benefit products.