November is LTC Awareness Month. Frankly, I think that when we dedicate days or months to specific causes we don’t really improve the awareness. It may actually be a buzz-kill since there are so many cause focused months. Instead, as financial professionals, we should be including long term care awareness into every client conversation that we have. It’s just the right thing to do.
With that preamble out of the way, I want to remind you of a little something that came from a survey that Hannover Research conducted in conjunction with OneAmerica.
In it, we learned that only 16% of consumers have a plan in place and (more surprisingly) only 29% have researched options.
What that mean is that we, as advisors, need to be having more conversations about extended care / long term care planning. And, remember planning has 2 phases – their plan and how you will pay for their plan.
Way back at the start of my career when I was an agent in rural New Hampshire, my agency manager always reminded us that “you can’t solve a problem until you know about the problem.”
And, how do you know about a problem without having a conversation?
At OneAmerica, we want to help you with that conversation. Download our consumer approved Step by Step Guide to Receiving Long Term Care to help your next client meeting along. It is a product-neutral information packed booklet that can help your clients plan for an extended care event. Complete with checklists and industry resources, the Step by Step guide is purely about helping people prepared for an extended care / long term care event.
We also have much more that we can do to assist you. Here are a just a few of more resources …
- Consumer marketing and education material
- Consumer in-person and virtual seminar programs
- A dedicated Regional Sales Director for you
- Weekly sales and marketing ideas
For your next client review meeting do me this favor – regardless of the purpose for the meeting include extended care / long term care in the conversation. Then, when you get to determining how they will pay for that plan, consider OneAmerica as a funding source.
If you would like a printed Step by Step Guide to Receiving Long Term Care booklet, please email my internal Justin Fox. Don’t forget to include your mailing address.
One last thing …
Now is a good time to review your book of business and identify your clients who are over 75 and own annuities that are on the sideline and earmarked for an emergency. The share the story how that money can be transformed into a tax-free long term care insurance strategy. That is what the million dollar annuity strategy is all about. Learn more about it at https://fridayswithfisher.com/million-dollar-annuity/.
My “big ask” of you for the million dollar annuity strategy is to identify 3 or 4 annuity owners 75 or older who might be viable candidates for our leverage strategy then give us a call.
The October edition of Coffee Break features a few ideas. In it, Elaine shares a quick hit idea for working with a great referral source – CPAs; Niki talks about client programs, and Jen shares an annuity idea. Please, take a few minutes and check it out.
Fridays with Fisher 
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