Week in Review: Shut Up and Listen

Written by Don Levin

June 26, 2020

Better days ahead
Top stories of the week

WHO: Climbing case numbers not linked to more testing

The number of coronavirus-related hospitalizations and deaths continues to climb around the world, suggesting that the rise in confirmed cases is not being caused by increased testing, says World Health Organization Emergencies Program Director Dr. Mike Ryan. WHO Director-General Dr. Tedros Adhanom Ghebreyesus has warned the pandemic continues to accelerate as the number of cases climbed by 1 million in a week, and United Nations Secretary-General Antonio Guterres has voiced his frustration over a lack of international cooperation against the virus. Full Story: Scroll (India) (English-language content) (6/23), Reuters

Experts: Pandemic won’t fade away anytime soon

Infectious disease experts say the COVID-19 pandemic won’t disappear anytime soon and increasing infection numbers are not simply a reflection of increased testing. Harvard Global Health Institute Director Dr. Ashish Jha said the virus “will be with us for at least another 12 months, and that’s the most optimistic scenario for having a vaccine,” while Dr. Tom Inglesby, director of the Center for Health Security at Johns Hopkins University, said the percentage of test results that are positive is climbing and hospitalization rates are also rising in some states, such as Arizona, Florida, Texas and the Carolinas. Full Story: The New York Times (tiered subscription model)

Expert: At least 1M should be tested per day to control the pandemic

Dr. Ashish Jha, director of the Harvard Global Health Institute, said the US needs to test between 1 million and 5 million people per day to get the COVID-19 pandemic fully under control. Speaking at AHIP’s annual meeting via online videoconferencing, Jha said testing should not only cover those with COVID-19 symptoms, but large samples of all kinds of people to allow the detection of asymptomatic “super spreaders” before they can infect others. Full Story: ThinkAdvisor (free registration)

COVID-19 increases prompt mask mandates in some areas

Spiking COVID-19 infections and hospitalizations have prompted some governors and mayors to require or encourage the use of face masks to control the spread of the novel coronavirus, which has killed more than 118,000 and infected about 2.2 million across the US. Masks are required in most of California, North Carolina’s governor has considered a mandate, and cities in Arizona and Texas and a county in Florida have considered or required masks. Full Story: Reuters

Number of new COVID-19 cases in the US up 25% last week

An analysis of data from the COVID-19 Tracking Project showed the number of new infections in the US climbed by 25% last week compared with the previous week, and record spikes in new infections were seen in Arizona, Texas and Florida. Twenty-five states saw their number of new cases increase last week, with Texas recording one of the largest increases at 24,000, followed by Florida with nearly 22,000 and Arizona with 17,000. Full Story: Reuters

FINRA adapts rules to align with Reg BI

The Financial Industry Regulatory Authority has amended its suitability and noncash-compensation rules to align with the Securities and Exchange Commission’s Regulation Best Interest. The SEC has approved the changes, which take effect Tuesday, the same date Reg BI becomes effective. Full Story: ThinkAdvisor (free registration)

Lighthouse, sunset

Leadership Message: Shut Up and Listen

Don Levin

A funny thing happened to me on the way home from Honolulu last September … the airline cancelled my flight. After an incredible week with my wife and great friends, celebrating my birthday on some fabulous white sand, it was time to go home. So what do you do when you are stranded on an island in the Pacific Ocean with a limited number of airplanes and available seats and the lines are long and quickly becoming filled with surly and frustrated people? You pull out the cell phone and talk nice to the person who answers the phone ironically in the very city that you call home. It was only because of my frequent flyer status with the airline that I was able to call the reservation hotline and re-route us home…that day. Unfortunately, our smooth and well organized travel day turned into something that resembled the classic Planes, Trains, and Automobiles, and stretched into two days of hard travel through four airports, and a six hour stay in the San Francisco airport from midnight until the first flight of the day. I wanted to go to the USO Lounge that I am entitled to use by virtue of my retired status, but having to leave the secure area prompted us to re-think this strategy, and I found myself sitting in the middle of a large concourse with nothing but quiet and solitude on my hands while my wife stretched out on a bench and was soon in the arms of Morpheus.

So, what do you do in the middle of the night in an airport waiting area? You commiserate with the other unfortunates and flight refugees who are still awake… and eventually talk about long term care insurance...in a very low-key manner. Before you shake your head and think that this guy must be crazy, consider the fact that I had a captive audience, and after exchanging our travel tales of woe and cursory descriptions of what we do for a living, I am finding that it really is getting easier and easier to steer the conversation around to that of long term care insurance because of the pandemic nature of its impact on Society generally and the people I meet specifically. I was not trying to sell anybody anything at three o’clock in the morning, but merely planting some seeds and doing a good deed by providing some free education. It also allowed me to reflect afterwards on the conversation and truths that I had shared in the pool regarding the art of selling these products. 

First, telling is not selling and selling is not telling. How often have we heard this phrase ad nauseum from top sellers and industry leaders? What does this really mean to you and me? Essentially, the point is repeatedly made that listening, not talking, is how top producers make their sales; that their two greatest tools are the ears located on either side of their heads, as opposed to the pie hole in the center of their face.

Listening to what you ask? Clients innermost fears. Given the opportunity, they will freely share them, especially if they have been exposed to the ugly visceral side of long term care with a loved one. How do we discern these fears? By asking questions rather than lecturing; by poking and prodding much like a doctor does while amid crafting a diagnosis, and most importantly, simply by listening. It is NOT about imparting every scintilla of knowledge and expertise we may have about our respective industries or niche products but rather just enough to provide information. The average client wants to know what time it is — not how to build the clock.

It is about sharing what the prospect needs to hear to become interested, committed, and your newest client as you collaborate on a solution that in turn solves their problem.

Success is measured, and ultimately occurs, when you have taken the time to ask the ever increasingly probing question(s) that assists them in peeling back the onion, layer by layer, that is their life and they become educated enough to accept your recommendation and appreciate the wisdom you have shared with them.

Over the years producers in the long term care industry have been exposed to many “systems,” “sales processes,” and “methodologies” to generate Need, Urgency and to demonstrate Value. Truth be told, some have proven more effective than others, but the most effective process is YOU! The blank sheet of paper or iPad screen upon which you take notes of what they are saying to you is the very canvas upon which you will create your latest masterpiece.

Failure to follow this process can leave us far afield from where the client and your recommendations need to be in order to be effective.

As an artist the tempo and cadence of your questions are driven by the answers that are provided to your previous questions. It is most decidedly not about following a prescribed script or process. It is about listening effectively and helping carve a path of discernment out of the jungle of confusion and ignorance with machete-like efficiency and effectiveness for your client to follow. Ask the question and then wait for the answer. Don’t be afraid of the silence…it always works in our favor.

It is about abandoning our comfort zones and embracing the ever-present change that envelopes us in a quickly changing industry. It is about being open-minded ourselves in terms of new as well as traditional product offerings and delivery methodologies.

It is about differentiating ourselves as competent professionals who are in fact willing to shut up and listen to what the client expresses as their needs, wants, and desires, and remembering that product and process have their places, but that WE are the force multiplier in the equation of success.

Pro Shop

TIPS FROM THE PROS

You have heard me mention Joe Jordan and the importance of living a life of significance. Here is a very poignant thought from Joe….

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Over the last few months of dozens of webinars and virtual presentations, I have spoken to thousands of financial professionals of all backgrounds.

One of my key messages that resonates in all of them is the need for financial services to transform from a sales culture to a service culture.

This paradigm shift is being driven by consumers and clients. What consumers want is a holistic approach, not one that focuses on the sale of individual products.

The days of pushing products and transactional relationships are over.

A recent Gallup survey measured different professions by ethics and honesty. The only ones below us are Congress and car salespeople! The number one profession is nurses and they’ve maintained that rating for 18 years!

Our reputation has not come without consequences. Regulators felt compelled to increase oversight given the perception that financial service was not client centric. It’s time to change that perception.

You’ll note that the professions listed just below nurses in the survey are all service organizations. Service organizations are built on two pillars:

  • HUMILITY
  • MATURITY

Humble people don’t think less of themselves. They just think of themselves… less. Mature people are not necessarily older, but they see things from another person’s perspective.

We need to adopt these pillars in our profession and shift our focus. Remember, it’s about them, not us. Holistic planning requires that you take the time to fact find, discover your clients’ perspective and develop a plan.

With everything going on in the world, there’s no better time to commit to reaching out to your clients and prospects with this mindset of service!

John Maxwell

1. JOHN MAXWELL on being an advocate

“People may hear your words, but they feel your attitude. … BE that long term care ADVOCATE.”

Bill Cates

2. BILL CATES TIP. Stop sending these 2 referral-killing messages

You may be killing your opportunities for more and better referrals without even realizing.

Almost everyday I see messages advisors send to their clients and other referral sources that work against their ability to generate more referrals and introductions.

Oftentimes, these messages are subtle and the advisor doesn’t even realize the potential negative impact.

For example, I received this out-of-office message just the other day (that prompted me to write this blog):

Due to high workload, I am currently checking and responding to email once a day.

If you require urgent assistance (please ensure it is urgent) that cannot wait, please contact me via phone.

Yikes! Clearly this advisor is way too busy to take on new clients. If you received this message, would you refer any business to this advisor?

CLICK HERE to make sure you’re not sending these 2 referral-killing messages to your clients and others.

Richard Weylman

3. RICHARD WEYLMAN TIP. Are you reaching one more prospect each day?

Today, people are anxious about their personal health AND their financial health.

The good news is you have the financial solutions they seek.

You also have an unprecedented opportunity to help more people with your gift of discovery, strategic thinking and sound advice.

It does require however that you adopt a high activity mindset.

Contacting one more prospect per day means at least 22 more per month will have the benefit of your expertise.

How would that impact the lives of the people in your community?

You decide and warm regards,

Richard

Bob Burg

4. TIP FROM BOB BURG. Influence & Success Insights 22

It’s so natural to do, yet so very counterproductive. When presented with a negative question, or one intended to somehow put us the spot, we react defensively and dismiss it as though it’s not an issue at all.

Which – of course – only tells that person and everyone observing that, indeed, it IS an issue.

In Influence & Success Insights Video #22 titled, “It’s ALWAYS a Problem…Unless It Isn’t” we explore, through a fantastic example I had the opportunity to witness several years ago, a much more effective, productive, and persuasive way to handle this type of situation.

Matt Anderson

5. Tip from MATT ANDERSON, THE REFERRAL AUTHORITY.

Despite the wealth of knowledge available about best business practices, isn’t it bizarre that most of us have LOW expectations as customers? To develop raving fans, Blanchard and Bowles recommend that you:

1. Decide what you want.

2. Find out what your clients want

3. Deliver the vision –plus 1%

Mike Rodman
Best Practices of America

6. MIKE RODMAN / BEST PRACTICES OF AMERICA. Integrate Exit Planning into your practice TODAY. You will be happy that you did!

And remember, that Long Term Care Insurance, as well as Life Insurance, can and should play a significant role as part of this planning!

The Worksite LTCI Corner

NEW ARTICLES:

Caregiving in America: The Strain, the Pain, the Emotional Drain

Is Long-Term Care Insurance Right For You?

VIDEOS:

Caregiving in The Workplace and The Impact on Employers. Watch Video (1:55)

Employers Can Attract, Retain and Reward Employees with A Long Term Care Benefit for Employees. Watch Video (1:53)

Contact our sales team
Good Reads
Reading is the KEY

Survey: LTCI interest higher among younger customers

A MassMutual survey found that interest in long-term-care insurance and other chronic-care insurance products is higher among younger consumers. Forty-two percent of consumers surveyed who were 30 to 40 years old said they were interested in those products, compared with 26% of consumers who were between the ages of 51 and 60. Full Story: ThinkAdvisor (free registration)

Study links belly fat to increased dementia risk

Women ages 50 and older who have higher than average levels of belly fat may have a 39% increased risk of dementia within 15 years, compared with those who have a normal waist circumference, researchers reported in the International Journal of Epidemiology. The dementia risk for men and women was 28% when considering both body mass index and waist circumference. Full Story: CNN

Clients want trustworthiness and solutions

A survey from marketing firm Lone Beacon found that clients value trustworthiness from their financial advisors and want the messaging they get from them to offer solutions to improve their financial well-being. The survey also found that clients prefer written articles and reports for financial information but tend to favor digital sources and TV for news. Full Story: WealthManagement

Migraine diagnosis tied to later odds of dementia

Researchers found that individuals with a hospital-based migraine diagnosis while age 31 to 58 were 50% more likely to develop dementia after age 60, compared with those who didn’t have a migraine diagnosis. The study, presented at the American Headache Society’s annual meeting, also showed twofold higher rates of dementia among those who had migraine and aura, and a nonsignificant 20% increased rate among those without aura, while dementia was also more prevalent among those who had frequent hospital contacts involving migraine. Full Story: MedPage Today (free registration)

Annuities fared better than other retirement assets in Q1

Annuity reserves declined 7.3% in the first quarter of this year, compared to the fourth quarter of 2019, but the drop was smaller than any of the other retirement asset classes, according to a report from the Investment Company Institute. During the same period, total retirement assets dropped 12% and the S&P 500 lost 20% of its value, the report said. Full Story: Pensions & Investments (free access for SmartBrief readers)

Clients should take advantage of RMD pause if they can

Clients should take advantage of the Coronavirus Aid, Relief and Economic Security Act provision that allows them to suspend required minimum distributions this year if they are in a position to do so, writes Kimberly Foss of Empyrion Wealth Management. She highlights potential benefits of skipping an RMD, including reducing taxable income and the possibility of additional tax-deferred investment growth. Full Story: Financial Planning online

Pandemic spurs interest in updating estate plans

The coronavirus pandemic has motivated some people to update their estate plans. Documents such as wills, powers of attorney and health care proxies need to be reviewed to ensure they are in line with client goals and recent changes in tax law, writes certified public accountant Sara Rabi. Full Story: Financial Advisor online

Pandemic has Americans skipping debt payments

Americans have missed more than 100 million debt payments during the coronavirus pandemic, with the number reaching 106 million in May, three times the number in April, according to TransUnion. Student loans have been the hardest hit, with accounts in deferment or another form of relief increasing to 79 million in May from 18 million in April. Full Story: Forbes

Staying connected with clients important in pandemic

It’s important to stay connected with clients during the pandemic and reconnect with clients you haven’t heard from, writes marketing consultant Carol Schiro Greenwald. She offers tips for setting up calls, making them meaningful and following up. Full Story: WealthManagement

Why now is a good time for a Roth IRA conversion

Stock market fluctuations and the government’s decision to suspend required minimum distributions in 2020 mean that now could be an especially appealing time to perform Roth conversions. Clients should consider tax brackets when determining how much to convert. Full Story: Kiplinger online

Show clients that you are there for them

Advisors should talk to their clients in a way that enhances their relationships with them, writes consultant John Graham. This can mean simply letting them know you are thinking about them and being available to listen to their concerns about the pandemic and other issues, he writes. Full Story: ThinkAdvisor (free registration)

Virtual client meetings may be the way of the future

The coronavirus forced many advisors and clients to become accustomed to virtual meetings, says Ken Haman of AB Advisor Institute. He notes that some clients prefer virtual meetings and explains why they are likely to become a permanent part of doing business. Full Story: Financial Advisor online

Carrier News
Mutual of Omaha

Now Accepting Emailed Photos of Post Issue Requirements

Speed up processing time by emailing completed post issue requirements to our case manager inbox.

View our New Cost of Care Resources

We have resources that can help you educate your clients on just how expensive long-term care services are – and, they’ve just been updated with 2019 numbers.

Using the LTC e-Application

Not sure how to get started on the LTC e-App? View our training materials to jump start the process.

National Guardian

THIS IS BIG NEWS!!! EssentialLTC available in California

The National Guardian Life Insurance Company (NGL) EssentialLTC Long Term Care insurance product is now available in California effective July 6, 2020. Click here to read the complete news release.

“The comprehensive features available with NGL’s long term care product offer the residents of California another Long Term Care insurance option as they evaluate their coverage needs. Including an affordable Long Term Care insurance policy in their financial planning portfolio can provide peace of mind and help to protect families against the financial and emotional consequences of a long term care event,” said Joe Guyotte, NGL National Sales Manager, Individual Products.

EssentialLTC features include:

  • Lifetime benefits
  • Joint policies and premiums
  • Shared Benefit Amount Rider with third pool benefits
  • 1035 Exchange eligible
  • Flexible premium payment options, including single premium payment or 10-year premium payment.

Click here to login to the Agent Resource Center and download the EssentialLTC Product Introduction Guide. Click here for the EssentialLTC Product Feature Availability (state variation listing).

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Transamerica

DIRECT DEPOSIT NOW AVAILABLE FOR HEALTH CLAIMS

We’re making it easier to receive benefits. Direct deposit is now available for new and reoccurring health claims with accident, critical illness, cancer, hospital indemnity, disability, and TransConnect® gap products.

Employees can log on and view their benefits on our customer portal.

Under ‘Contract Request,’ select ‘Claim Payment Preferences’

  • Select ‘Direct Deposit’, enter bank account number, routing number and authorize
  • Employees may also request the direct deposit option by calling our customer care center and when initiating a claim by phone: 888-763-7474.

Click here for a screenshot of what employees can expect to see within the portal.

Let your clients know!

Thrivent

Thrivent’s e-App on iGo just got better, by adapting to today’s needs for ease in remote selling. To help facilitate e-signatures, Zoom users comfortable with screen-sharing can hand over control of their screen for the clients to sign, versus having the e-signature email go to the clients and waiting for them to access the email and complete the e-signature process. This process will be similar to an in-person meeting where you would slide your laptop over to the client to have them sign electronically.

Genworth

The COVID-19 pandemic has served as a wake-up call to Americans about their vulnerability to unforeseen illness and mortality, and has already inspired three out of four adults to make changes in their plans for the future, according to a survey recently conducted by Genworth. The survey was designed to gauge the impact of COVID-19 on Americans’ lives and their thoughts about long term care and financial security.

Among the survey findings:

  • A majority of Americans said the pandemic has forced them to confront their own (53 percent) as well as their loved ones’ (65 percent) vulnerability to unforeseen illness.
  • The pandemic caused one in three Americans to unexpectedly become caregivers overnight. These new caregivers said they had to carve out about nine hours a week, a typical work shift, to provide care for their children or older family members, or the dependents of front-line workers.
  • With unemployment at historic highs1 and retirement savings subject to fluctuations in the stock market, 24 percent said they are less confident in their financial futures.
  • The pandemic is taking an emotional toll on Americans, with respondents most often reporting anxiety (49 percent) and stress (53 percent) as a result of the abrupt disruptions in their lives and plans for the future.

As a result of the COVID-19 crisis, 73% of survey respondents said the pandemic has changed their attitude about planning for the future. Among the changes they have resolved to make:

  • Improving their health and well-being (37%)
  • Planning better financially (34%). In fact, 39 percent said they were more willing to prioritize saving for the future than they were pre-pandemic.
  • Making sure they are financially prepared to pay for future long term care in the setting of their choice (32%). One out of three Americans said they have already started taking action by thinking, researching, talking to loved ones and/or financial professionals about how they would pay for long term care services they might need. As borne out by previous surveys2, most respondents said they preferred to receive long term care at home.
  • Carving out more time for their families (26%)
  • Living more in the moment and not worrying about the future (23%)

“Respondents’ reactions to the pandemic are not surprising considering the pandemic has had a tangible impact on just about every aspect of people’s lives,” said Christine Jensen, Ph.D., director of Health Services Research at the Riverside Center for Excellence in Aging and Lifelong Health, based in Williamsburg, VA. “It has opened their eyes to the importance of lifelong health and being more proactive about planning for how we, as well as our older family members, want to age.”

From a public health standpoint, if there is a silver lining to the pandemic, she said, it’s that the pandemic has shined a spotlight on family and professional caregivers and raised awareness of all that they do. “Many are in a challenging situation they hadn’t prepared for, but they are rising to face the challenge and it’s important for us, as a society, to support, value and validate their role.”

She offers several pieces of advice for people who are motivated to improve their lifelong health or who find themselves in caregiving roles: Plan ahead, educate yourself and reach out for help.

“The survey clearly demonstrates that the pandemic has inspired a lot of soul-searching, as people come face to face with the possibility that they or someone they love will become sick and need long term care,” Jensen said. “All of us, regardless of our age and caregiving role, need to consider and plan for how we or our loved ones want to be cared for when we are unable to care for ourselves, whether because of a serious illness, a debilitating disease or cognitive impairment.”

For caregivers or someone who has just received a health diagnosis, Jensen prescribes education as a path to empowerment. “You’re never too old or young to learn,” she said. “Arm yourself with knowledge and education and don’t be afraid to ask questions. Being informed will empower you to be a better advocate for yourself or the person you’re caring for and it supports lifelong health and well-being. There are numerous resources in the community and online. Support also may be available from your family, your religious community or social services.”

The final piece of advice is to know your limits. “Whether you are a caregiver or someone who is dealing with a health issue, your sense of interdependence should be strong,” she said. “You don’t have to be independent and fight to the end. Reach out for help; you don’t have to do it alone.”

Planning Resources

“For many Americans, the pandemic represents the first time they’ve become acutely aware of their own mortality as well as that of their loved ones,” said Janice Luvera, vice president of Marketing at Genworth. “They are asking themselves, What if I or my loved ones got sick and needed long term care? Where would I want to receive that care and how would I pay for it?”

“In spite of the disruption in their lives, what’s encouraging to see is their determination to turn this pandemic experience into positive change, and we want to do our part by helping them plan for a more secure, worry-free future,” she said.

John Hancock

Product News

Next round of in-force rate action notifications to begin in late July

In late July, we will begin policyholder notifications on the next round of John Hancock and Fortis policies impacted by the in-force rate actions, which will have an effective date beginning with anniversaries on or after November 1, 2020.

The 2016 rate action notifications will include Fortis LTCi individual policies originally issued in Iowa. The implementation of the 2013 rate increase will continue for Fortis LTCI individual policyholders in Michigan who received an initial “phased-in” increase.

See Complete Details

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Mass Mutual has implemented a 19.5% increase and is offering to reduce MDB or BP or lengthen EP, but has no “landing spot”. MassMutual has a smaller block of policies than some other carriers and the rate increase is not as high as many other carriers.

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Pricing Updates

Lincoln is making the following pricing adjustments to ensure our life insurance products remain prudently and responsibly priced in the current historically low interest rate environment.

  • Single pays will see an approximate increase of 20%
  • Flexible premium payments will see the following approximate increase that trends down as the duration of payments is extended:
  • 5-pays increase 17%
  • 10-pays increase 15%
  • 15-pays increase 12%
  • 20-pays increase 10%
  • 25-pays increase 8%
LTC Library
Nationwide

Affluent clients may pay more for LTC

In addition, LTC services are likely to cost more for affluent people. According to LTC industry expert Claude Thau, one might take the position that affluent clients are not only more likely than a middle class American to need LTC services in their lifetime, but the cost of their care may be more expensive.2 The reasons for this assumption are:

a) The affluent tend to want better quality LTC, which will be more expensive.

b) The affluent are more likely to stay at home regardless of the cost to do so.

c) Affluent people entering a facility are more likely to live in a more costly private room.

d) The affluent are more likely to select an upscale facility or one in a more expensive area of town.

e) Affluent people may be less likely to receive care from their children. Their children often have higher profile and/ or demanding jobs; and they may have relocated for career advancement.

Excerpted from Unraveling the “self-insure” myth: Why the affluent need LTC coverage

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Changes to Asset-Care® in California launching on July 25

OneAmerica® is committed to the asset-based long-term care market and to offering products that bring value to both our agents and the clients we serve together. To maintain the viability of our Asset-Care® product in California and continue offering it until the updated product is available in this state, we are making key updates starting July 25.

What’s changing

The changes we’re making to Asset-Care in California will allow us to adjust our overall product pricing to align with current market conditions while maintaining a strong product. They also reflect an update to changes we made to the base policy premium expense charges (PEC) last September. Therefore, on July 25:

1. New, generally increased Continuation of Benefits (COB) rates will apply.

2. Base policy PEC will be reduced.

Prepare for July 25 – Transition rules

July 24, 2020, will be the last day to submit Asset-Care (CA) applications with the current premium expense charges and COB rates. All applications and 1035 paperwork (if applicable) must be received by the Home Office by close of business on July 24. All funding (cash or 1035 exchange) must be received by the Home Office no later than 60 days after Underwriting approval.

The base policy PEC change only affects applications submitted on or after July 25. Existing inforce policies are not affected by the PEC change, as all premiums are contractually guaranteed to remain unchanged for the life of the policy.

Asset-Care annuity suitability training

An insurance producer may not solicit the sale of Asset-Care III until he or she has completed insurer-provided product-specific training. Review the California training requirements and access the training.

Have questions? Contact Paula Pike.

Pacific Life

What Are My Long-Term Care Needs?

There are basically three ways to fund your long-term care needs: self-insure, qualify for Medicaid, or obtain long-term care insurance. Use this calculator to determine your potential long-term care needs and how long your current assets might last.

Read More Here

Securian

Pricing update

Given the extremely low interest rate environment and historic volatility in the markets, increasing premiums is a necessary step to ensure policyholders are protected and to maintain the long-term vitality of the product. The pricing updates were carefully selected to ensure SecureCare remains highly competitive in the linked-benefit space.

For new business only, expect premiums to increase an average of:

  • Single-pay: 13.5%
  • 5- and 7-pay: 10.5%
  • 10- and 15-pay: 7%

Payment durations extended to age 80

Securian Financial is dedicated to providing your business and the people we serve

together with flexible and practical solutions for long-term care, which is why the maximum payment age is being increased from 75 to 80 years old. Please note: due to COVID-19, SecureCare policies are only being issued to applicants age 70 and younger until at least September 15, 2020.

Lifesecure

Why Sell LifeSecure’s ancillary products?

  • Earn extra commission – paid weekly via EFT
  • Cash benefits for your clients
  • For individuals and worksite groups (in most states)
  • Straightforward plan designs
  • Easy online quoting and applications with e-signatures
  • Tremendous flexibility in product designs and how benefits can be used
  • Cost-effective coverage that matches benefit options with personal budgets
  • No coordination of benefits
  • Ideal for clients with high deductible health plans
  • Sell and earn all year – not limited to open enrollment

You can also check out our full webinar schedule here.

Training Corner

THE TRAINING CORNER

1. GROWTH AND DEVELOPMENT CALL (GDC).

If you are TRULY COMMITTED to working ON your business and not just in your business, you don’t want to miss these calls. As we have said time and time again, an honest 40 hour work week WILL garner you the level of success that you want, and 4 of these hours should be spent in training, webinars, All Hands calls, etc. Attendance has been up significantly since we changed the format of this call, and we hope to drive it even higher!

DIAL IN INFORMATION: 1 (208) 717-1941, Participant Passcode 57783

When applicable, the visual part of the call can be viewed at www.uberconference.com/PNWIS with the same participant code.

Training and Development

2. Setting ambitious goals can lead to better results

Financial advisors who set more ambitious goals are more likely to strive to reach higher standards, writes business coach J.J. Peller. He lays out a process for setting goals, including organizing them into one-, three-, five- and 10-year goals and starting with the longer-term goals first. Full Story: ThinkAdvisor (free registration)

3. Controlling “self-talk” leads to success, coach says

Financial advisors who control their “self-talk” are more likely to attract and maintain business, writes sales coach Dan Solin. He offers tips from experts on managing negative “self-talk,” including asking better questions, taking control of stressors, and getting help from a coach or therapist if necessary. Full Story: Advisor Perspectives

4. 7 Inspiring Email Templates

Looking for inspiration to create unique and successful campaigns? In this guide from Salesforce, you’ll find seven templates featuring best practices for B2B companies of all sizes. Discover how to leverage interactive content to create newsletters that attract and engage recipients. Download now.

5. Prospecting tips for advisors

There’s no real silver bullet to find clients, but there are effective prospecting techniques for advisors willing to put in the time and effort, writes Bryce Sanders of Perceptive Business Solutions. Cross-selling, referrals and social prospecting are among the best ways to find clients, Sanders notes. Full Story: ThinkAdvisor (free registration)

6. Advisors’ social media needs to be personal

Advisors who intend to use social media to attract clients need to offer personal information rather than just financial content, says Clara Shih, CEO and founder of the digital marketing firm Hearsay Systems. “They want to hear about how you’re helping in your community, maybe about how you volunteered at a food bank during the pandemic,” Shih says. Full Story: Financial Advisor online

7. USA-LTC TRAINING CALENDAR FOR NEXT WEEK:

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Theses are the good days

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Week In Review: Go Fly A Kite

Week In Review: Go Fly A Kite

COVID-19 lockdowns prevented 60M cases in the US A study published in Nature found that stay-at-home orders, business...

Week In Review: Commencement

Week In Review: Commencement

CBO: Coronavirus recovery could take 10 years The economy will require as long as a decade to recover from the...

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