The LTCI sale: take the long view

Kapfhammer says she also sends thank you cards after she makes a sale and reminds her customers she's there to help them in the future. "Then I keep in touch with all of my clients through a quarterly newsletter that the Society of Certified Senior Advisors provides, entitled 'Senior Spirit.' It's personalized with my picture and name on it, and I get so many compliments from my customers about the great information it provides; the quarterly mailing keeps me in front of them on a regular basis."

Continuing education
Devitt says she does periodic reviews and invites the spokesperson from one or two of the companies her company represents to come speak about costs and developments in the industry and other topics of interest, like how health care is changing or adult day care options.

"We invite all of our customers to attend," she says, "and it's a time for them to be reassured about costs and ask questions. Circumstances often change for your customers after you sell the LTCI policy, and our providers do a great job of providing very pertinent, up-to-date industry information. Often our clients attend because their own parents are now in nursing homes and they find themselves writing checks from their parents' checkbooks; they don't want the same scenario for themselves and want to make sure their coverage reflects their wishes."

These meetings do more than just educate, according to Devitt. "We're right there to help them review their policies. We set up tables so they can arrange a personal evaluation of their plan. We can talk about why we've recommended one company over another and discuss specific details like rate increases and health concerns," she says, adding that she and her people tell attendees that certain companies are a better fit for specific situations, and she always tries to place the client with the best possible match. "The review process gives us a chance to reiterate why a specific carrier is the best fit, and helps develop confidence in the company. Often people may opt to add a little more coverage to their existing plans, and these meetings are also a tremendous referral source."

Filing claims
"I take care of all the claims filing for my clients," Kapfhammer says. "Too often in this industry, people sell something and walk away. Where the rubber hits the road is when my clients need the most help – when they are going through a crisis with their family and they need the product."

Kapfhammer wants the family to call her first if there's ever a need to make a claim. She wants to help facilitate it, to hold their hands through the whole process. She feels like it's crucial to be there for them to help them access the benefits for the policy. She says going through the claims process helps her be a better agent, because she knows from personal experience how responsive the carriers are and how quickly they pay.

Periodic reviews
Kapfhammer makes it clear to clients, when the sale is complete, that it's important to sit down every couple of years and review the policy. That may be too often with some people and not often enough for others, but that's a general time table. She wants to make sure the cost and benefits chosen are keeping up with the cost of care. If an old policy needs to be supplemented because the cost of care is rising more quickly than policy, she wants to be the one to inform clients.

"I'm obviously very passionate about LTCI and I believe in it, and the bottom line is, you really need to stay connected with your customers and maintain strong relationships. Beyond that, you need to be there when the client needs you the most and help them realize the benefits of the coverage." For more information on LTCI, go to our Web site and read "LTCI hitchhiker," "Alternate funding for long term care," "Get 'em while they're young" and "Thicker than water."

For more information, please visit www.producersweb.com , www.centerltci.com and www.aaltci.org .