1. Calculators Used to Justify the Sale

2. 2 For Internal Use Only From Prospect to Client  Whenever a prospect becomes a client by making a buying decision, that decision represents the culmination of your sales process.  The prospect’s decision-making process is different from the selling process.  You must be able to see the world from your prospect’s point of view as the buyer.  The buying decision always begins with the prospect becoming aware of a need.  Be aware and sensitive to your prospect as he or she moves through each step of the decision-making process.

3. 3 For Internal Use Only Establishing the Need/Determining Goals and Objectives Some Questions You May Want to Consider Asking the Prospect:  How concerned are you with regard to your or your spouses need for long-term care at some point in your lives?  Anticipating your future and potential need for long-term care assistance, how do you feel about your spouse or domestic partner becoming your primary caregiver?  How about other family members, your siblings or children?  How concerned are you about maintaining your independence and dignity?  How important is it that you or a family member decide where and who cares for you?  How important is your legacy and how you want to be remembered by your family?

4. 4 For Internal Use Only Your Financial Resources You must evaluate the cost of care in the prospects area, the impact the cost of care will have on the prospects finances and what resources the client has that they are willing to commit to the cost of care.

5. 5 For Internal Use Only Long-Term Care Plan Design Questions  How many years can your assets (excluding your home) pay for nursing home care costs at the rate of $_________________ per year? (cost of care for 1 year in client’s geographic area)=$__________  What is a reasonable rate of return you may expect to receive on your investments? ___%  Where do you invest your money? (Include all investment vehicles and retirement plans) Certificates of Deposit?$_____________Stocks/Bonds? $_____________ Mutual Funds?$_____________401K? $_____________ IRA’s?$_____________Roth IRA? $_____________ Tax Free Bonds?$_____________Keough? $_____________ Treasury Bills?$_____________SAR/SEP? $_____________ Savings Accounts?$_____________Real Estate? $_____________ Limited Partnerships?$_____________Other? $_____________

6. 6 For Internal Use Only Long-Term Care Plan Design Questions 4. Do you own Life Insurance? What is the cash value? $____________________ 5. What is your annual income? $____________________ Where does it come from? (Social Security, Pension, Wages, Investments?) 6. What is approximately 7% of your annual income? $____________________ 7. How much per day could you afford to pay toward the cost of your own care? (If working with a couple ask each to answer) $____________________ 8. What is the difference between the amount per day you can pay and the cost of nursing home facilities in your area? $_____________________

7. 7 For Internal Use Only Long-Term Care Plan Design Questions How many days could you afford to pay for your own cost of care in a nursing home? 30 days?______60 days?_______90days?______________ Considerations:  The premium range should not exceed number 6 (Taking Care of Tomorrow, NAIC Guide)  The total lifetime benefit your client can afford may be the answer to number 1, but remember this is also contingent on their age and other designated resources set aside for long-term care  The daily benefit your client needs is probably the answer to number 8, again contingent on your clients other designated resources  The waiting or elimination period that is appropriate for your client is probably the answer to number 9  And don’t forget the intangibles, family health history, age, and client’s health history.

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23. 23 For Internal Use Only Consumer Prospecting Materials  Cost of Waiting Brochure (LTC-3054) –Focuses on boomer market –Calls attention to the impact of waiting to purchase LTCI –Includes real-life investment scenario

24. 24 For Internal Use Only Motivating the Prospect  Motivation comes from within.  Motivation is connected to prospect’s unique needs and goals.  You do not have to “hard sell” the prospect.  Help the prospect make the right buying decision based on needs you have summarized and the prospect has confirmed.

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