BSMG Blog: Protecting the Future of Families and Businesses

BSMG's Joseph Savastano addresses the shifting landscape and popularity of Long Term Care products. He touches upon client objections against LTC and how three types of solutions - Traditional LTC, Linked Benefit Products and Life insurance with LTC or Chronic Illness riders - address client needs. The presentation also includes an illustrated case example.

Read More: Top LTCi Blogs for Long Term Care Awareness Month

Use this list of suggested talking points to hit a homerun for long-term care insurance against these top 4 client objections.

Client: Long-term care coverage is too expensive.
Agent: Life Insurance with a long-term care rider can be surprisingly affordable. While the exact cost will vary based on your age, sex and other factors, the cost of adding the rider to your policy can be offset by other advantages and benefits - choice, control and flexibility.

Being able to retire when desired is a top concern across all families, ages and income brackets your clients may fall into. Americans can now expect to live up to 20-40 years in retirement, through all kinds of circumstances. For many of your clients, employer sponsored plans and IRAs will not be enough to provide them with sufficient retirement income. 

With these concerns on their minds, you may find yourself looking for new life insurance concepts and solutions to attract their business. One topic that we find appeals to clients and prospects is the idea that life insurance can be accessed while alive, and used as a safety-net for the unexpected, or annuitized for retirement income.

Watch and share this great video from AIG with clients and potential prospects who may be a good fit for life insurance with living benefits.

According to the 2015 Insurance Barometer Study by Life Happens and LIMRA, more than 40% of Americans have no life insurance!

Living Benefits of Life Insurance Using Long-Term Care Riders (LTC) and Chronic Illness Riders

Dana Darlington, Vice President of Sales at Brokers' Service Marketing Group, discusses new ways your clients can access their death benefit while they are alive. Watch the Video Blog Now!

Ask your clients:

• Will you have enough MONEY for retirement?
• How will you handle medical expenses in retirement if you or your spouse were to experience a serious illness?

The option for clients to access their death benefit while living can be an important deciding factor when purchasing a life insurance policy. Living benefits provide your clients the ability to turn their life insurance policy into a safety-net for the unexpected.

Use this client-facing infographic to highlight a few staggering statistics that may just change the way your clients feel about buying life insurance.