Disability Insurance Training
The following resources below are available FREE for your use and cover the basic and intermediate training levels of Disability and Long Term Care insurance. Complete the training below and then join Broker Services!
An Overview of the Point of Sale
It is a fact: 75% of people who are older than 65 will need long term care services at some point in their lives. With the national average cost for 1 year of long term care service in a nursing home being 60K or more, the question of how your clients are going to handle this inevitable expense can be answered simply: with a Long Term Care policy.
When it comes to long term care and convincing your clients that there is a need to be prepared, the arguments for NOT needing a long term care policy can be very convincing. Let’s take a look at some of them:
"I can self insure!"
Even if someone is able to pay $100k a year for their long term care needs why would they want to? Wouldn’t it be better to pay a minimum cost for the same $100K worth of care and protect the rest of your hard earned assets? Also, keep in mind that 50% of people who face a long term care event, without long term care insurance become penniless over a one year period."My children will take care of me!"
I’m sure they will, however, is this really what you want? The toll that is taken on a caregiver is enormous if it is a stranger, if it is your child it can be heartbreaking for them as well as very hard on you. Having a long term care policy allows the actual care to be done by a qualified care giver giving you more quality time with your family."I’m not going into a nursing home…EVER."
Ok fair enough, with today’s long term care policies many claims are paid to have care in your home. Also at that time depending on the situation it may not be your decision.
The Plan that is Right for you
Every client is different. Most people today want to stay in their homes or in some community based situation for as long as possible. Today’s long term care policies are geared for this. Traditional reimbursement plans while more suited for someone in a nursing home situation are now offering indemnity or at home cash benefits to help people realize their goals of staying in familiar and comforting surroundings. Cash Plans can offer a more flexible solution.
Describing how a long term care policy pays benefits can be rather difficult. One good way to start is to describe different care settings and then explain how the product would perform and pay benefits. The average claim on a Long Term Care policy is 3 to 5 years. However given our modern advances in medicine this is increasing. One of the discussion points which can be helpful in determining the length of benefit best suited for your client is family history as this plays a big part in this decision. If your client’s family has a history of longevity a longer benefit period may be the better course of action.
Put the premium in perspective.
Yes, long term care can be an expensive undertaking; however, in most cases benefits paid out in the first 6 months of claim will more than justify the cost per year for this valuable coverage. A return of premium option may help easy the concern of your client in the event that they never need to use the coverage.
Continue to Preliminary Course 2 - Basic LTC Concepts Explained
DI and LTC Training Courses
DI Training
- An Overview of the Point of Sale
- Basic DI concepts explained
- Glossary of DI definitions
- How to be Successful Selling DI
- Protecting Assets
- Policies and their Benefits
LTC Training
Disability Training Manual
What every Agent, Broker or Financial Planner should know about the Disability Income Protection World!
ORDER NOW!
The Disability Income Training Manual, authored by Michael J. Eskra CLU, RHU, discusses the most pertinent aspects of disability income planning. This comprehensive manual provides sales and marketing ideas that will prove helpful to just about anyone who markets disability income insurance to their clients. The complete manual is available to you for only $49.99.
"If you are interested in improving your knowledge if Disability Income Insurance, then I strongly recommend that you purchase the excellent book authored by Michael Eskra which is the most authoritative and informative book on Disability Income Insurance to be published in the last 50 years."
- Ken Wylie, nationally renown lecturer, teacher and trainer who has conducted thousands of training seminars in disability insurance.