November is not just about turkeys and pumpkin pie. November is also Long-Term Care Awareness Month, and it’s the perfect time to talk to your clients about their plans for long-term care.
It’s a conversation that needs to be had. According to KFF, the majority of adults have not talked to their loved ones about who will take care of them if they need help daily activities in the future or how they will pay for this care, and 43% say they are not confident they’ll have the financial resources needed to pay for their future care needs.
Even more disturbingly, many people overestimate their preparedness. LIMRA found that 29% of survey respondents think they have long-term care coverage, but in reality, only about 3% do. This disconnect may stem from misunderstandings about what non-LTC insurance covers. For example, many people think Medicare covers long-term care, when in fact, LTC needs are not usually covered. Clearly, more awareness is needed.
Online sources and local television stations will likely cover Long-Term Care Awareness Month. Many of your clients will see a story about the importance of planning for long-term care needs, which is a great “foot in the door” for you.
Below are a few easy ways you can capitalize on the publicity and kick-off your own long-term care insurance campaign.
1. Spotlight long-term care insurance on your website by linking to industry resources like:
- LifeHappens.org This consumer-focused nonprofit organization has a Long-term care section that includes: LTC 101, stories from people who benefited from long-term care insurance, a needs calculator, and FAQs.
- acl.gov/ltc This website dispels some of the myths about Medicare and long-term care. There’s information on legal steps, costs, housing issues and more.
- AALTCI.org Get the Long-Term Care Awareness Month Banner Artwork, statistics, current information for consumers and more.
2. Be sure your clients think of you when they start to plan for long-term care needs.
Reach out via email to your clients who are between 40 and 60 years old. You can use long-term care awareness sales letters and marketing tools available in AALTCI’s Producer Toolkit.
Also, take advantage of the DIS Insurance Marketing Email Guide. This guide helps you keep your sales pipeline full with more than 20 lead-generating email templates. The emails can be customized with your agency information.
Finally, Thanksgiving is a great time to hold an open house or customer appreciation event for your clients. Be sure to have long-term care handouts readily available.
3. Take a moment for a quick long-term care insurance product refresh.
Many people are realizing they need to plan for long-term care, but LIMRA says that only about 16% of people have actually implemented a plan. The door is wide open to fill a major need and succeed!
If long-term care isn’t your primary product line, you may want a quick product review before you talk with your clients. The DIS Long-Term Care Insurance Page is the perfect place to start. You’ll find a clear overview of what long-term care insurance is, how to explain it, and when to offer it. You’ll also find a wealth of resources, including the LTCi Broker Kit and the Ultimate LTCi Case Design Resource.