[LTC-Sales_Discussions] RE: [LTC Sales Discussions] Who should NOT own LTCi????
Harris Insurance
ltc-sales_discussions@ltpcalums.com
Thu, 30 Oct 2003 15:30:20 -0600
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Hello out there. I keep reading references to Mr.Cusovitch. Who the heck is
he?
Jerry Harris
-----Original Message-----
From: ltc-sales_discussions-admin@ltpcalums.com
[mailto:ltc-sales_discussions-admin@ltpcalums.com]On Behalf Of Scott A.
Olson, CLTC
Sent: Wednesday, October 29, 2003 7:10 PM
To: ltc-sales_discussions@ltpcalums.com
Subject: RE: [LTC-Sales_Discussions] RE: [LTC Sales Discussions] Who
should NOT own LTCi????
Bravo, Bob.
I couldn't agree more! The reason more people don't buy LTCi is because
we suck at selling it!
Pardon my vernacular!
If we all did a better job of closing, studying, hustling... every
self-reliant individual in this country would own long term care insurance
regardless of age!
Thank you for talking straight!
Mr. Cuscovitch's commentary on who should and shouldn't own LTCi was the
biggest pile of horsesh*t I've run across in a long time.
Keep up the good work, Bob. I never thought I'd say that to a Bankers
Life agent, but I am in this case!
sao
scottaolson@hotmail.com
I have to disagree with the thought that all the whizz-bang, flavor of the
month type of vehicles do ANYTHING to increase penetration into any
demographic market.
Either we uncover the need or we don't
Either the client trusts us or they don't.
Either the client accepts responsibility or they don't.
That is our job.
The trinkets and trims and new ideas may be a good way of improving our
products, but it is up to us to make the recommendations that will improve
our clients postion in relation to risk and ability.
I have chosen to be a career agent and trainer with one company that has
at least four different LTC products. Those plus a couple of other products
are enough to help everyone I've spoken to in the past 5 months. Those of
you that are independents, select a small handful of the most durable
companies with well established claims history and go to work.
Not everyone is going to get it and the latest and greatest widget is no
going to push them over the edge, it's only going to give them another
reason to "think it over".
If you consistently sit at the kitchen table and do the right thing, the
numbers will take care of themselves.
If you concentrate on the purpose of your job, the results will be
astounding.
Just my opinion, I could be wrong.
Bob Hadidian
Field Trainer
Bankers Life and Casualty
----- Original Message -----
From: Barclay Sisk
To: ltc-sales_discussions@ltpcalums.com
Sent: Wednesday, October 29, 2003 10:59 AM
Subject: [LTC-Sales_Discussions] RE: [LTC Sales Discussions] Who
should NOT own LTCi????
Hello All!
We all agree that it is great that a few of our clients have the
forethought to purchase LTCi at younger ages, however most people are still
not listening to us. A new strategy is coming from Hancock to help us
attract those younger clients. It is the GPO (Guaranteed Purchase Option)
with a conversion option at age 65 to compound inflation. This was
introduced during the Federal program with a lot of success. We want to get
those younger prospects insured before they have insurability problems or if
they go on claim before age 65.
Most agents who are selling to younger clients are selling a lower
benefit with compound inflation, which is not sufficient if the client goes
on claim before 65. This new option of giving them a higher benefit with
optional inflation conversion later in life may be a way for us to break
through some of the barriers that we have with the younger market, when we
are fighting for dollars that are going towards retirement or college
savings for children.
1) What are your thoughts on using this GPO with the age 65 conversion
option?
2) We see a lot of Kanawha, State Life, Lincoln Benefit, and Life
Investors being sold which sounds like some prospects are just spread
sheeting for the lowest price. Shouldn't we be looking for the top carriers
that have paid out more in claims than some of these companies are worth?
3) We know CNA was a top carrier and look what has happened to them!
Sometimes we are our own worst enemy! Younger clients trust us to give
them the best carriers if they are going to buy this stuff before age 50. I
have seen several well known companies leave the LTCi market in the last 10
years, but there are still some agents selling LTCi based solely on the
lowest premium. If we want to go after the younger ages, shouldn't we be
using the companies with long standing history in LTCi and deeper pockets?
These younger folks may not go on claim for another 30 or 40 years.
I am looking forward to YOUR thoughts. Shoot me an email or give me a
call to discuss.
Barclay
Senior Care Concepts, Inc.
Insuring a secure and independent future
Phone: (336) 292-2236
Toll-Free: 1-888-450-4870
Fax: (336) 852-8528
Toll Free: 1-888-450-4871
Mailing Address: P.O. Box 4548 Greensboro, North Carolina 27404
Physical Address: 4605-D Dundas Drive Greensboro, North Carolina
27407
We are a Long-Term Care brokerage committed to providing quality
insurance products with sensible solutions to the client's future Long-Term
Care needs. Please give us a call if you have any questions or need our
assistance.
-----Original Message-----
From: ltc-sales_discussions-admin@ltpcalums.com
[mailto:ltc-sales_discussions-admin@ltpcalums.com]On Behalf Of Denise R.
Molohon
Sent: Tuesday, October 28, 2003 4:41 PM
To: ltc-sales_discussions@ltpcalums.com
Subject: RE: [LTC-Sales_Discussions] Who should NOT own LTCi????
I third it! I also own lifetime benefits, compounding inflation and
have since I was 37! People who purchase this product at younger ages have
usually experienced some family members needing LTC. When you've had 2
grandfathers pass on Alzheimer's, a grandmother who gave everything to
Medicaid while spending 7 years in a NH (live to 98) and helped another
family member as a caregiver, you don't hesitate to get your own plan in
place ASAP. Not to mention the fact that:
? One-third of stroke victims each year are under age 65
? 41% of heart attacks occur to Americans under age 65
? Average age for diagnosis of Parkinson?s disease = 52
? Average age of diagnosis of Multiple Sclerosis (MS) = 42
? Average age of diagnosis of ALS (Lou Gehrig?s Disease) = 48
Or that 40% of people using LTC are between 18 & 64.
-----Original Message-----
From: ltc-sales_discussions-admin@ltpcalums.com
[mailto:ltc-sales_discussions-admin@ltpcalums.com]On Behalf Of Dominic
Mogavero A007
Sent: Tuesday, October 28, 2003 2:07 PM
To: 'ltc-sales_discussions@ltpcalums.com'
Subject: RE: [LTC-Sales_Discussions] Who should NOT own LTCi????
Mark I second that... I too own LTCI with a lifetime benefit,
compound etc...bought it when I was 40. No one is going to diminish my
lifestyle or my son's ( I am a single Dad).
Dominic
Dominic Mogavero
Long Term Care Specialist
Society of Senior Market Professionals
Strategic Financial Partners
800 South St. Suite 505
Waltham, MA 02453
781.642.0700 x287
781.642.6730 fax
DMogavero@sfp-ma.com
-----Original Message-----
From: mark leonard [mailto:mcleonard@geeksnet.com]
Sent: Tuesday, October 28, 2003 1:10 PM
To: ltc-sales_discussions@ltpcalums.com
Subject: RE: [LTC-Sales_Discussions] Who should NOT own LTCi????
I AM SORRY BUT I CAN'T STAND THIS ANYMORE.
HOW DO I PUT THIS, EVERYONE ON THIS BOARD NEEDS TO GO VISIT
THEIR NEAREST MEDICAID FACILITY AND SPEND ALL DAY THERE AND DEVELOP SOME
HEART, ESPECIALLY MR. CUSCOVITCH, WHO OBVIOUSLY IS A DANGER TO THIS
PROFESSION OR ELSE HE DRINKS TOO MUCH BEFORE HE READS HIS EMAIL. I
PERSONALLY BOUGHT LIFETIME COVERAGE CP INFLATION, 0 ELIM, PLUS SURVIVORSHIP,
WHEN I WAS 45, AND I HAVE NO ASSETS, NO SAVINGS, JUST A WIFE AND 3 BEAUTIFUL
GROWN CHILDREN AND A BOSTON TERRIER WHO I JUST HAPPEN TO LOVE MORE THAN ALL
THE SO CALLED "LIFESTYLE OPTIONS" AND MATERIAL THINGS THAT I COULD WASTE MY
MONEY ON, BECAUSE I KNOW FROM EXPERIENCE THAT IF SOMETHING HAPPENS TO ME OR
MY WIFE, LTCI WOULD BE A MATTER OF "WHO'S GOT THE BETTER LIFESTYLE NOW". MY
QUESTION IS, MR CUSCOVITCH, WHO REALLY NEEDS TO SEE A SHRINK?
WHO NEEDS TO BUY LTC?
WHO AND WHAT DO YOU LOVE?
P.S. I APOLOGIGE AGAIN DOUG, I SAID I WAS GOING TO BE A GOOD
BOY, BUT SOMETIMES WHEN YOU ARE GOOD , PEOPLE DON'T UNDERSTAND.
Mark C. Leonard
Long Term Care Options
Farmville NC 27828
252-753-6432
-----Original Message-----
From: ltc-sales_discussions-admin@ltpcalums.com
[mailto:ltc-sales_discussions-admin@ltpcalums.com]On Behalf Of Scott A.
Olson, CLTC
Sent: Tuesday, October 28, 2003 6:10 AM
To: ltc-sales_discussions@ltpcalums.com
Subject: RE: [LTC-Sales_Discussions] Who should NOT own
LTCi????
Who should not own LTCi?
Here are the 3 answers thus far:
A) From Art: Everyone should have at least a three year LTC
plan if the premiums would not affect their life style. People who would
have to alter their life style or give something up to pay for a three year
LTC plan should not buy LTC.
B) From Bob: My personal belief is anyone under 50 that can
afford it. And anyone over 50 that has more than $50,000 in assets that can
afford it.
C) From Doug:
1. If the prospect does not have Major Medical Health
Insurance.
2. If the prospect is not saving for retirement - i.e.
contributing to a
IRA/401k
3. If the prospect has children in college and can't afford
the premiums
now without corrupting their retirement saving and/or college
education
4. If the prospect can't afford to pay the premiums without
sacificing
other important expenses (rent, etc).
Those are all interesting answers.
I appreciate the responses. I'd really like to hear from Mr.
Cuscovitch, because he's obviously not a big fan of LTCi.... and he seemed
to imply that there are some very specific reasons for not owning ltci. I'd
love to hear those reasons from him.
I like Doug's answer the best. I think that in order to build
people's trust we need to be able to give them some objective reasons for
not owning LTCi.
Regarding being over age 50 and having at least $50K in
savings, if I'm retired and my wife and I have $100K, she can keep most of
that if I go on Medicaid...
Whether we like it or not, Medicaid is our #1 competition, so
we've got to understand it ourselves and we've got to help others understand
it.
Does anyone else have any other 'objective' reasons someone
SHOULD NOT buy LTCi?
Scott A Olson, CLTC
-----Original Message-----
From: ltc-sales_discussions@ltpcalums.com
Sent: 10/27/2003 9:06 PM
To: ltc-sales_discussions@ltpcalums.com
Subject: Re: [LTC-Sales_Discussions] Re: Ms Morris & family
An easier one than that is -
Everyone should have at least a three year LTC plan if the
premiums would not affect their life style.
People who would have to alter their life style or give
something up to pay for a three year LTC plan should not buy LTC.
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