Policy v. Plan

To quote Bill Comfort, “the policy is not the plan; the policy pays for the plan.”

It is a fact.

Like it or not, we all have a plan. It is something that we are born with. I like to call this the default plan. To paraphrase Tim Ripp, that plan is also called the plan of hope …

  • hope we don’t get hurt or sick, and
  • if we do, hope that it isn’t severe, and
  • if we do, hope that there is someone to help, and
  • if we do, hope that we can pay for the care that we need, then
  • hope that we do not run out of resources to pay.

Does that sound like a way to address one event that can impact not your life but that of your family and crossing generations?

The whole purpose for Long Term Care Awareness Month is to put a spotlight in the issue of long term care. But, it is more than an issue of the day – the impact of a healthcare event triggering the need for custodial care is significant. And, as noted earlier, can cross many generations.

This time of year is the time when that conversation occurs most frequently. We are all together as a family and the opportunity presents itself.

At OneAmerica, we have created an outstanding piece to use during a planning conversation. The Step-by-Step Guide to Receiving Long Term Care is an informative piece that focuses on the plan, not the product.

CLICK TO OPEN THE GUIDE TO RECEIVING LTC

For too long, the industry has focused on how to pay a premium and the ongoing debate which product and features are best for our clients without asking our clients what is important to them. Too often, we have let our bias toward that solution interfere with our primary objective which is to help our clients plan for a future need.

Without a plan, how can you introduce a funding solution?

Said another way – identify the need, develop a plan to address that need, then provide the funding solutions. AND, if you are objective and listen to your clients, they will lead you to the funding solution (product) that is appropriate for them.

If you are uncomfortable having the conversation – we offer a virtual consumer seminar to help start, contribute, or compliment your conversation. Every Tuesday evening at 7 pm (eastern), we air the consumer seminar. Of course, we can create an on-demand version for you – just give me a call.

That is my two cents leading into December. One last thing, with the holiday season upon us, you will want to be aware of the business schedule at OneAmerica. HOLIDAY HOURS OF OPERATION

Remember to join Michael Florio and me on our weekly webcast LTC Coffee Break where we share new ideas with you every Tuesday morning at 10 am. LTCcoffeebreak.com is your home page to everything LTC Coffee Break including new episode, an archive of every broadcast, and much more.

For product questions and illustration assistance – call Justin Fox at (844) 658-3725 or email at justinfox.isp@oneamerica.com

To discuss what we can do to help you, schedule a meeting with me (virtually or in-person) – you can call or text me at (678) 512-9627 or via email at kevin.fisher@oneamerica.com