In last month's column, I described what I believe is the right way, certainly a more enjoyable and less stressful way, to break into long-term care insurance (LTCi) sales. I've gotten several calls and comments from last month's column, so this subject is evidently relevant.
This month I'll expand on how you can earn as you learn how to sell LTCi.
Remember the KISS (Keep It Simple, Stupid!) principle from your first sales training? It should be used for acquiring an LTCi learning curve.
To review from last month's column, don't put the cart before the horse by attempting to acquire encyclopedic LTCi knowledge out of the gate; this takes years. It won't happen before you make your first LTCi sale. If this is your approach, you will starve before you make your first sale. There is no "Silver Bullet," no magic way to learn LTCi swiftly. If it were that easy to learn LTCi, I reckon a lot more agents would be selling it.
What you can accomplish prior to making your first sale is to acquire a deep, inner passion for LTCi. Such a passion, such deep conviction, will transmit to others. Only then, will you be on your way to selling LTCi. This is exactly what I did to gain success in this market.
A colleague from Houston Association of Health Underwriters called me for advice last week. She was given some LTCi illustrations by the folks she turns to for assistance with life insurance sales. She emailed these illustrations to me. It was immediately clear to me that the quotes were done in a perfunctory fashion.
Carrier "A" was quoted with two minimal cost riders excluded. These riders would have given the policy much greater performance. When given the choice, consumers elect them. Furthermore, only two carriers were quoted.
