Long-Term Care Is Evolving - Evolve With It
At the end of this one-day workshop you will have the knowledge, skills and marketing tools and ability to capably speak to your clients and prospects about long-term care planning and viable solutions.
Here is the PROGRAM for your 1-day LTC Sales Success workshop.*
* Final program subject to change.Take this time to meet with the nation's leading providers of long-term care insurance and other LTC solutions. BE SURE TO be part of the special drawing for prizes.
At the end of this morning's session you will be able to capably speak to prospects and clients about the following: How has long-term care and LTC insurance evolved? Reasons that will cause people to plan for LTC? What LTC services do people really use? What are the real current and projected future costs?
Perceptions and misperceptions about LTC and LTC insurance Old thinking versus new thinking re: long-term care planning Old thinking versus new thinking re: needing care and reasons why people plan / don't plan Old thinking versus new thinking re: long-term care insurance as a solution
Age profile of purchasers: AHIP studies 1990 - 2005 Reasons Buyers purchased protection (1990 - 2006 AHIP studies) Income profile of buyers - what constitutes suitability Policy Design Choices by Age; Coverages, Features and Options Current market snapshot: Age(s) when insurance benefits are needed Future market snapshot: Planning for 76 million baby boomers
Basic definitions of long-term care services What types and levels of care do individuals want and need Caregiving usage - What do they really use - for how long - family members Home Care - what constitutes care at home - costs - who pays Assisted Living - Community Care Retirement Communities Costs - What the indexes don't show Skilled care - nursing home, institutional Costs - what does care really cost
Self-Funding - A Viable Option? What does Medicare Really Pay Today? Definitions of Care Medicare Part B - Home Care - Medicare Supplement Insurance Medicaid - What It Pays for - What It Doesn't Cover Medicaid - Eligibility - Where To Get More Information Veteran's Benefits - Eligibility - "Does The VA Pay for LTC?"
BREAK -- YOUR OPPORTUNITY TO MEET DIRECTLY WITH THE NATION'S TOP INSURERS AND MARKETING ORGANIZATIONS
At the end of this session you will be able to capably discuss the reasons to plan for long-term care and understand how to begin explaining suitable options.
Pre-Deficit Reduction Act Planning DRA Overview - the current rules - who it impacts - how to communicate Medicaid Planning - Look-back - Countable assets Why Medicaid Planning Doesn't Work As A Sound Financial Plan
Tax Advantaged TQ LTC Insurance
2007 Federal tax deductibility rules - individuals - self-employed Rules for business owners - partnerships - LLC - C-Corps State specific guidelines for local state (and any adjoining states)
Executive Carve-Out guidelines Paying for parents and dependents
Advanced Planning With LTC Insurance
Rules for HSAs Advanced planning using trusts
Scope of Coverage - Facility Only, Home Care Only, Comprehensive Benefit Levels - Benefit Periods Elimination Period (Differences in Calculating; Calendar, Days of Ser, Hybrid) Indemnity versus Reimbursement Other Features: Restoration of Benefits, Bed Reservation) Other Important Provisions (Care Coordination) NAIC Suitability
Optional Features of Today's LTC Insurance Policies
Inflation protection: Explaining benefit versus cost Return of Premium Individual Policy - Joint Policy - Shared Care
Establishing Need; Experience and Fact Finding - Questions To Ask Financial Suitability: Assets, Income Other Motives: Second Marriages, Children with special Needs Funding Options - Solutions Establishing Need and a Plan To Address Need: Married Couples Establishing Need / Plan: Single men single women Establishing Need / Plan: ages 40s and 50s
"I won't need long-term care" "I can wait to buy protection" "It's too expensive" "My family will take care of me" "Medicare will pay" "What if I don't use my coverage" "I have $2 million in assets, they say I don't need insurance"
LUNCHEON AND TIME WITH EXHIBITORS
Leading LTC insurers a share one powerful sales idea that will help you maximize sales by capitalizing on their product's sweet spot. John Hancock Mutual of Omaha Prudential Allianz Life MedAmerica Penn Treaty Network America
At the end of this afternoon's session you will be able to capably understanding current practices for underwriting of LTC insurance prospects. Plus, you will gain an under- standing of ways to target the small-group (multilife) prospect; as well as alternative ways to finance the LTC need and market yourself to both clients and prospects.
Policy Design Made Simple Benefit Period - Latest AALTCI Data on Claims Usage Deductible or Elimination Period Inflation Protection Single Policy vs. Joint Policy Two Care Studies: #1: Single woman, #2 Married Couple
What insurers look for and why The evolution of underwriting Pre-meeting qualifiers (phone interview) The in-home interview - field underwriting Matching prospects to insurers Dealing with prospects who can not health qualify
Market Overview: Growth of market, average case size, benefits to employers and employees MultiLife; Using individual policies (advantages and disadvantages) MultiLife: Using group or hybrid products Association or Other Endorsements
Industry overview - Annuity products that offer LTC benefits Recent legislation - impact on consumers - explaining benefits Overview of how annuities with LTC benefits work Suitability (client suitability) Two examples (one low, one middle/high) Presenting the annuity + LTC solution
Industry overview - life insurance products that offer LTC benefits Recent legislation - impact on consumers - explaining benefits Overview of how life with LTC benefits work Suitability (client suitability) Two examples (one low, one middle/high) Presenting the life + LTC solution
Industry overview - reverse mortgage trends and current market for RMs Recent legislation - impact on consumers - explaining benefits Overview of how reverse mortgages work How insurance and financial professionals can present RM solutions
Continuing education portion of the program ends (be sure to sign the roster and collect your certificate when departing to workshop).
The closing presentation will focus on proven ways used by the nation's top producers to generate a steady stream of new prospects and clients. Jesse Slome, Director of the American Association for Long-Term Care Insurance will share the best marketing ideas and explain how to use marketing tools to establish yourself as a knowledgeable long-term care professional to both clients and prospects.
Presentation of Certificates of Completion (Continuing Education certificates) Awarding of Prizes from Association and Company Drawings
15 TOP NATIONAL EXPERTS WILL SHARE THEIR BEST TIPS & TECHNIQUES
The Association has selected 15 of the nation's top industry experts to share their knowledge. More important, they will share real, practical experiences that will benefit you now. [Listed alphabetically]
Charles Bennett, Vice President Sales, Penn Treaty, Franklin, TN
Pat Bradley, Vice President, National Sales, LTCi Partners, Libertyville, IL
Dave DeBoer, JD, CLU, ChFC, CLTC, Advanced Markets and Estate Planning Specialist, Mutual of Omaha, Omaha, NE
Roy Gosselin, CLU, ChFC, National Sales Director, Prudential Financial, S. Windsor, CT
Ron Hagelman, Jr., LTCP, CLTC, President, Republic Marketing Group, New Braunfels, TX 78132
Carin Juthnas, Director, MultiLife LTC Sales, MetLife, New York, NY
Gary Katelman, National LTC Sales manager, Senior Market Sales, Omaha, NE
Debie Knowles, CLU, CSA, Vice President, Standard Life, Kemah, TX
Larry Moore, MBA, CSA, Regional Director, John Hancock, Bothell, WA
Jennifer Mortenson, Director, LTC Division, American Financial Group, Minneapolis, MN
Joe Schroeder, Director of Brokerage Sales, MedAmerica LTC, Rochester, NY
Joe Solsana, President, Sunmark Group, Orange Park, FL
Jesse Slome, CLU, ChFC,Executive Director, American Association for Long-Term Care Insurance, Los Angeles, CA
Eric Williams, Regional Vice President, Allianz Life, Minneapolis, MN