Tuesday, July 25, 2017

TA's Top 5 for June 30, 2017

TA's Weekly Top 5

Hi, All!

Here is your weekly dose of "TA's Top 5". A list of industry updates, sales ideas, important dates and other interesting things we come across.


  1. "Sticky Clients"
  2. From Omaha
  3. Creative Routines
  4. 5th element - setting expectations
  5. Solutions for a Changing & Challenging LTC Marketplace

1. Do you have "Sticky Clients"? (Frank Thompson)
People are reluctant to leave an Agent or Advisor they know, but they have no problem leaving an agent or advisor they don't know, and don't hear from. It's the "knowing" and the communication that's the glue.
Do they know you? Do they hear from you? Do you proactively review their coverage, check in to see if their needs have changed? It's not about selling today, but it could be. Just stay in touch. Make "sticky" clients. It doesn't cost, but it pays. Who does this stuff? Almost nobody.
Think of it this way: Sticky clients will think of you first when the "insurance" compartment in their heads is triggered open by a Healthcare, Medicare, Auto, Homeowners or Retirement Planning commercial.
Staying in touch is a big deal. We can help you develop and implement a "Sticky Client" strategy that will strengthen existing relationships. Call your Account Executive for Details

2. From Omaha (Peter Zinnen)
  • Why LTCi is a better solution than relying on family. Help clients understand what being a caregiver really means. Show them how LTCi is a better solution to get the care they may need and free family members from being caregivers. Read more.
  • Help grandparents leave a lasting legacy. Life insurance can help secure the futures of their kids and grand-kids. Use this client brochure to help promote this idea.

3. Creative Routines (Brian Thompson)
Freud, Beethoven, Dickens, Mozart...Ben Franklin and many more were extremely productive, leaving their mark with some of the most important work in the history of art and science? Check out this awesome info-graphic by Info We Trust... You might be surprised!
Click on Picture for PDF of info-graphic

4. 5th Element (Adam Thompson)
SETTING EXPECTATIONS – It’s happened to us all. You know the routine:
  1. We meet with a prospect 3) Propose solutions and overcome objections
  2. Qualify the prospect with a fact finder 4) Close the sale – take an application
WHAT ABOUT #5 OF THE ROUTINE??? This is where things can get sticky, or go sideways if we’ve skipped #5 of “the routine”, which should be SETTING EXPECTATIONS. When helping your clients, consider some of the following tips to avoid frustration or surprises due to a difference in assumptions versus the actual underwriting process:
  1. Not everyone is preferred best non-tobacco – I know, this will be shocking to your clients, but it’s true. It takes a little longer to do a little field underwriting (height/weight, tobacco use, family history, medical history, medications), but you will strengthen your credibility, and increase your placement ratio when you can propose realistic solutions as a result of that field underwriting.
  2. You won’t have your policy in a couple days – while our accelerated underwriting options help speed up the process considerably, it will still take longer than a few days. Consider a statement like, “While some cases can be approved very quickly, others can take up to 60 days or more. If this concerns you, let’s consider submitting your application with conditional coverage.
  3. Insurance companies want to help – their goal isn’t to charge as much as possible for your insurance coverage. They want to offer the best price for your coverage, with underwriting credits and other things to improve an offer when possible.
  4. During underwriting, you are not locked into that specific product and price. You will have flexibility throughout the process to change your mind about amounts, lengths, benefits, etc. While this is an important decision, we can make changes if needed.
Setting Expectations shouldn’t take more than 5 – 10 minutes, but will save you a lot of time in the long run. You will spend less explaining why your client was approved at standard instead of the best class you presented. Your client won’t be surprised when it takes longer than 10 days to get their policy, and you probably won’t spend any more explaining that the insurance company isn’t out “to take all your money”, and that your client has choices if he/she doesn’t like how things turned out.
By SETTING EXPECTATIONS, you will save time, help more clients, and place more business, all while providing a better experience for your client. Once you’ve taken an application, how do you currently set expectations with clients?

5. Long Term Care 360' (Frank Thompson)


We often get asked: "What are my options for protecting my clients' Retirement Assets, and how do I decide which is best?" This guide will guide you through the many LTC planning options available today. Helping to overcome the top reasons for NOT purchasing traditional long terom care insurance, which are:
  • Confusion - People say it is difficult to understand the costs and what is paid by Medicare, Medicaid and long term care insurance.
  • Denial - People do not believe that they will need Long Term Care insurance
  • Mistrust - Clients are concerned they will not be able to rely on a long term care insurance company when they need it.
  • Discomfort - It is too unpleasant to think about becoming ill and needing long term care.
On this site we discuss traditional and alternative, explaining the concepts and products available to meet the needs of your clients.

Thank you all!
Have an Outstanding Weekend!

The Thompson Agency 73 River Rd Collinsville, Connecticut 06019 United States (800) 842-8289

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