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Report from June 24th Webinar
on Converting Term Life Insurance
into Guaranteed Issue LTC Insurance

"Your seminar was run extremely well and with great efficiency!" L. Beers

"Your class was great!" A. Rickman

"Great seminar! I signed up for them all." M. Fessenden


These are some of the comments that came in after the first webinar last week on how to convert term life insurance into guaranteed issue LTC insurance. Guest speaker Martin Levion with PolicyFLEX, LLC explained the concept with an example of a 66 year old man with a $1,000,000 term life policy converting it for a similar premium as a substandard premium with a traditional policy. After 20 years, the $200K he paid in is available to use for LTC, plus an additional $400,000 is available as a death benefit to his family/beneficiary. If he never needs care or doesn't use the entire $200K, his family would get the entire $600,000 or any difference.

So does he pay $200k in substandard premium on a traditional policy for 20 years and get nothing back if he doesn't need care, or does he convert his term life policy and get it all back in the form of benefits or death benefit?

Most people wouldn't know not to let their term policy go, so I think it puts another helpful and interesting arrow in our quiver. The even bigger picture is he may not have even qualified for the traditional plan so this option would have been open to him with no underwriting. PolicyFLEX can offer you a FAQ and welcomes your questions to George Holzberger, gholzberger@policyflex.com (917) 562-3213.

I think you can see from this report that each of the nine webinars will contain a useful and innovative idea on how to grow your income from helping people plan for long-term care.

And to answer a question that I can't believe still comes up ... I AM NOT RECRUITING AGENTS. That idea hits me the same as if you asked me if I would like to adopt ten children today . I am learning lots of new things as I work with Suze Orman referrals and the worksite cases we are doing in Tennessee (including the State of TN employees). It's always been my MO to want to share what I learn to help others grow their sales and HELP MORE FAMILIES PLAN FOR LTC.

The July 8th webinar covers my thoughts on how to sell long-term care insurance that is affordable in today's market. In addition, our guest speakers are going to share how to find money to pay for LTCi with High Deductible Plan F with a reserve annuity that guarantees 3% and discuss the opportunity to help people with short-term plans.

You can still sign up for any or all of the remaining webinars and the first one if you didn't buy it already because we will send you the recording as soon as it is available in a few days. Or if you bought some but not all, you can add to your order by emailing Lawrence@ltcconsultants.com and he will adjust your payments if necessary with the volume discount.

$49 each for 1-3
$39 each for 4-6
$29 each for 7-9

To help you decide, the complete list is below with session descriptions this time. You will see they are every Wednesday from 1:45 – 3:00 CST, starting July 8th through August 26th. IMPORTANT: Please note that the first 15 minutes is great music just like I've always offered in my live seminars. The actual presentation starts at 2:00 p.m. CST with interactive Q&A at the end. I'll call on you and let you ask your question yourself whenever possible. Or, I may call on you if I see you in the "inattentive" status on the control panel, so heads up!

DATE TOPIC SPEAKERS Description
June 24 How to convert term life insurance into guaranteed issue LTC insurance Georges Holzberger
Martin Levion
(PolicyFlex LLC)
Historically, the objection to traditional long-term care insurance has been the "use it or lose it" issue as typical return-of-premium riders have been expensive. People are concerned they will die before ever needing long-term care; or will use only part of their benefits. There's also the problem of people becoming uninsurable by the time they consider LTCI, often in their 60s or older. Living Care Extension is a program enabling your client to use their existing term life insurance policy in order to create a highly effective alternative to long term care insurance, and by doing so, address both issues.
July 8 How to sell long-term care insurance that is affordable in today's market/Finding money with High Deductible Plan F with a reserve annuity Phyllis Shelton
Bob Lochard
and Gary Owen
(United American)
Barbara Stahlecker
(Premier LTC
Brokerage)
How can LTC insurance possibly be affordable now that most companies are gender rating and now that nursing homes cost $220-$250 per day? ($350-$400 higher cost areas) In addition to my own ideas, our guest speakers will expose you to ways to help more people by finding money for LTCi AND make the benefits more affordable.
July 15 How to sell LTC insurance to companies of all sizes Phyllis Shelton
Chuck Breen
(Genworth)
Grant Mathews
(Genworth)
Sue Root
(LifeSecure)
Richard Chrisman
(Transamerica)
How many times have you heard we need to sell LTCi to younger people? Why do robbers rob banks? Because that's where the money is! Healthy younger prospects are at WORK. There are only three companies that offer limited underwriting for worksite sales. Hear what they are looking for and I'll share my top ideas for double digit participation.
July 22 Equity index annuities to fund LTC, with and without underwriting Evan Ward
(Impact Partnership)

Phyllis Shelton
Jason Jones
(OneAmerica)
This session will offer double the content for your money. Our guest speakers will comment on why baby boomers are moving millions of dollars to equity index annuities to prevent their savings from another stock market drastic drop and how they can help solve the LTC planning need as well. I went in this direction to help people who couldn't qualify for traditional or combo LTCi and have learned a TON about the entire picture of EIAs.
July 29 My favorite linked benefit products and how not to sell them Chris Lawler
(Impact Partnership)
Matt Clark
(OneAmerica)
Matt Valente
(Lincoln)
My dream for this session is to get away from the popular way of selling combo plans of "Give me $100K and I'll give you $300K for LTC" with no thought about what the policy will pay out per month when care is needed.
Aug. 5 How to successfully do internet selling, including technology tips Scott Olson
(LTC Shop)

Phyllis Shelton
Lawrence Vivenzio
(Got LTCi)
Most of you are probably selling online. I've asked my friend Scott Olson to join me as he made his first internet sell in 1999. Lawrence Vivenzio is the wind beneath my wings in my own internet selling and it won't take you long to find out why!
Aug. 12 Selling home care services to people who can't qualify for LTC insurance/The latest with using reverse mortgages to fund LTC and LTC insurance and how to work with the non-cross selling law Marc Sinton
(True Freedom)
Michael Banner
(Professional
Mortgage Alliance)
Yes, you can still help people who are totally uninsurable but don't have the savings to do an annuity without medical underwriting. You can help them stay home as long as possible with home are packages and/or a reverse mortgage. Our guest speakers will open your eyes to the latest updates on both these topics. After listening to them, I learned I didn't "know it all"!
Aug. 19 My formula for analyzing a rate increase and retaining the client, plus the regulatory process of filing a rate increase and the latest on what the NAIC is doing about rate increases Cheryl Bush
(MedAmerica)

Phyllis Shelton
Chris Sitek
(Northstar Financial)
I am so proud to have my dear friend Cheryl Bush, SVP of Operations at MedAmerica and one of the smartest people I know, tell us what's really going on with rate increase regulatory activity. I'll be sharing my formula for helping clients analyze a rate increase. Chris Sitek will chime in about how he uses my formula that way and in annual reviews to retain clients.
Aug. 26 The latest research published in 2014 on benefits actually being paid utilizing claims studies/Projections on claim duration (get ready for a few surprises) Marc Cohen
(LifePlans)
Matt Morton
(Long-Term
Care Group)
We should call this session "Where the Rubber Hits the Road" because that's what paying claims is all about. LifePlans and Long-Term Care Group will share the latest research about the value of LTC insurance and a peek into the future with new projections on claim duration.

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Phyllis Shelton

 
 
 


LTC Consultants provides long-term care insurance training to agents and educates consumers with information about long term care insurance. This website contains reports and articles about caregiving, assisted living, nursing homes, aging, senior living and elder care, home health care and other long-term care related articles. Order Phyllis Shelton’s Protecting Your Family with Long-Term Care Insurance with articles about whether or not to self-insure or buy combo life insurance and annuity policies or a traditional LTC insurance plan. The book also contains ideas for people who don't qualify for LTC insurance such as Medicaid, life settlements, reverse mortgages, critical illness and also contains in-depth information about Medicare, Medicare Advantage and Medicare Supplements.

 

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