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Sometimes it seems there are only two kinds of prospects for long-term care insurance (LTCI): Those who can’t afford it and more affluent candidates who can — but resist spending the money thinking, “I’ll just self-insure it.”
Next time you hear such a response, ask this: “Would you like to know mathematically whether self-insuring is a valid option?”
Most affluent people will want to hear what you have to say.
In the four-minute video below, Steve Savant and Don Prehn do a great job of explaining the mistake many clients make by self-insuring this risk. The results of the analysis may surprise you as the logic of insuring is virtually a slam-dunk.
If you’d like more details on this concept as well as a look at the detailed reports from Wealthy and Wise®, see my Blog #6: How To Prove Which Of Your Clients Should Purchase Long Term Care Insurance.
Conclusion
Most clients make their best decisions in a comparative environment, and the logic of comparing the mathematical impact of the following options on net worth and wealth to heirs is formidable:
- Strategy 1: No claims and no LTCI premiums;
- Strategy 2: Self-insure potential claims;
- Strategy 3: Purchase LTCI to insure potential claims.
This approach will impress affluent clients with your analytical ability, and I believe that many of them will be receptive to learning what else you know that they don’t.
InsMark’s Digital Workbook Files
If you would like some help creating customized versions of the presentations in this Blog for your clients, watch the video below on how to download and use InsMark’s Digital Workbook Files.
New Zip File Downloaders
Watch the video.
Experienced Zip File Downloaders Download the zip file, open it, and double click the Workbook file name to open it in your InsMark System.
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Note: If you are viewing this on a cell phone or tablet, the downloaded Workbook file won’t launch in your InsMark System. Please forward the Workbook where you can launch it on your PC where your InsMark System(s) are installed. |
Licensing
To license Wealthy and Wise, contact Julie Nayeri at julien@insmark.com or 888-InsMark (467-6275), or you can click here to order it at the InsMark website. Institutional inquiries should be directed to David Grant, Senior Vice President — Sales, at dag@insmark.com or 925-543-0513.
InsMark’s Referral Resources
(Put our Illustration Experts to Work for Your Practice)
We created Referral Resources to deliver a “do-it-for-me” illustration service in a way that makes sense for your practice. You can utilize your choice of insurance company, there is no commission split, and you don’t have to change any current relationships. They are very familiar with running InsMark software.
Please mention my name when you talk to a Referral Resource as they have promised to take special care of my readers. My only request is this: if a Referral Resource helps you get the sale, place at least that case through them; otherwise, you will be taking unfair advantage of their generous offer to InsMark licensees.
Save time and get results with any InsMark illustration. Contact:
- Ben Nevejans, President of LifePro Financial Services in San Diego, CA.
Joint Interviews
If you want or need help from a qualified producer for joint interviews with any InsMark illustration and are willing to share the case, email us at bob@robert-b-ritter-jr.com, and we will provide you with recommendations.
Testimonials
"InsMark helps us help our clients understand their money and their choices. I am always learning something new that changes what we do and how we can do it more efficiently. That translates to a better bottom line for us and for our clients. It’s making more money for everyone — just by pushing InsMark buttons on the computer. How great is that?!"
Kay Corbin, CLU, ChFC, InsMark Platinum Power Producer®, Phoenix, AZ
"As I’ve said to anyone that will listen, Wealthy and Wise is the best piece of software in the industry.”
Simon Singer, International Forum Member, InsMark Platinum Power Producer®, Encino, CA
"Major cases we are developing have all moved along successfully because of the sublime simplicity and communication capability of Wealthy and Wise. I guarantee that the proper use of this tool will dramatically raise the professional and personal self-image of any associate who dares to take the time to understand it…"
Phillip Barnhill, CLU, InsMark Gold Power Producer®, Minneapolis, MN
More Recent Blogs:
Blog #73: The Discounted Dollars Strategy (Part 2 of 2)
Blog #72: The Discounted Dollars Strategy (Part 1 of 2)
Blog #71: When Life Insurance Doesn’t Work — or Does It?
Blog #70: What Exactly is CheckMate® Logic?
Blog #69: Seven Variations of a Great Executive Benefit
(including my favorite)
| 3 Reasons Why It’s Profitable For You To Share These |
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Robert B. Ritter, Jr. Blog Archive