Why People Don't Buy Long Term Care Insurance

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OF PEOPLE WHO DON’T BUY…
86% SAY THEY’D CONSIDER LTCI IF JUST
ONE THING WAS CHANGED.

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LifePlans recently completed
a 25 year study on Long Term
Care Insurance shoppers.

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They wanted to know who buys long
term care insurance, and (more
importantly) who doesn’t.

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What they found was surprising.
It’s not because people don’t see the
need…

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What they found was surprising.
It’s not because people don’t see the
need… it’s because they see problems
in the products.

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There were three consistent complaints
that kept people from buying.

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38% SAY IT'S TOO CONFUSING TO KNOW
WHICH POLICY IS RIGHT FOR THEM.
#1

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67% WOULD BE MORE INTERESTED IN
BUYING IF THEY WERE GUARANTEED A
RETURN ON THEIR PURCHASE.
#2

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AND HERE’S THE WHOPPER…
86% WOULD BE MORE INTERESTED IF
PREMIUMS WOULD NEVER INCREASE.
#3

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86%

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86%
LET THAT SINK IN.

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THESE PROBLEMS ARE REAL…

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…AND THEY ARE HURTING YOUR SALES.

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SO WHAT ARE YOU GOING TO DO?

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HERE’S YOUR PLAN:

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1. RECOGNIZE THAT LONG TERM CARE
PLANNING IS NOT A “ONE SIZE FITS ALL”
SITUATION

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2. FILL OUT YOUR PRODUCT SUITE WITH
OPTIONS THAT ADDRESS THESE
PROBLEMS.
Simple and easy
to understand
options
Options with
guaranteed
benefits, no rate
changes, and
ROP

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3. UPDATE YOUR SALES APPROACH TO
IDENTIFY THE NON-BUYERS EARLIER AND
RECOMMEND A BETTER FIT

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YOU WANT IN?
• Learn about new product options
• Understand the huge number modern
buyer, their needs, and where to find them
• Start turning “no” into “yes”

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LET’S TALK.
MIKE ANDERSON
800-672-7202
MIKE.ANDERSON@WHYAIM.COM