A: Veterans are definitely a good market to target. By informing the veteran about future VA benefits and whether he can qualify, you are in a position to offer LTCI to offset what the VA doesn't pay. And, if the veteran is in good health, there is an opportunity to do some really good planning. To provide information on the best way to access this market, I consulted with Joe Solsona, president of the Sunmark Group.
According to Solsona, two approaches have worked well for him. The first is using direct mail, which can generate a 6.6 percent return if you have a good veteran list. The second is presenting seminars at VFW, American Legions or assisted living facilities. These seminars are for veterans who are not members or residents of these facilities. Average attendance is 120-plus. One agent just had a seminar that drew over 800 attendees and it didn't cost him a penny.
Health care partners
To locate groups of veterans, Solsona suggests partnering with people who provide health care, such as hospitals, social workers, home health care agencies, assisted living facilities, independent living facilities, geriatric groups and hospices. These groups are eagerly seeking an expert who really understands these benefits to talk to veterans on their marketing list.
