23 Jun 2007
Simplicityii - LTCi Rocket Fuel....
For Agents Information Only
My dad and I spent an hour on a webinar the other day for MedAmerica's New Simplicityii product and all I can say is WOW!!!!
In my opinion this product is going to blow LTCi sales through the roof. MedAmerica is really on to something here.
Simple to Understand - Easy to Explain - People "get it" They are pulling out all the stops this time. They've made the product super easy to explain and understand by using a "face amount" system whereby your prospect can choose between $100,000, $200,000, $300,000, $500,000 and $1,000,000 in coverage - very easy to talk about.
For instance, let's say your client has a $400,000 retirement he's trying to protect...........it's easy to relate to the $500,000 coverage amount. And remember it's a CASH plan so if you trigger benefits you are free to use the CASH for whatever you want! That's right, you don't need to use any special care providers. Use your nurse or your niece.....you can pay family members to care for you if you want.
Futuristic Care CoveredHeck they said they would even pay for future items that might not be invented yet, for instance - let's say they come out with a personal care assistant ROBOT in the future - guess what.....the plan will pay! In fact it pays you the monthly benefit check the month prior to incurring expenses - after you submit a simple request to receive CASH.
Top Two Emotional Triggers
Simplicityii does a great job of meeting both of these needs. It also does a great job of simply showing how it will do the job.......ie. CASH at claim time and the new face amount benefit system. It's a lot easier to explain $500,000 in coverage then it is to explain a 3 year or 5 year benefit period etc.
- Independence - They said the number one reason, based on exit polls, that people bought LTCi was Independence. The boomers' parents didn't have LTCi and thus many became a burden to their children. The boomers said they didn't want this to happen to their kids.
- Asset Protection - The second reason was asset protection. This actually surprised me as I thought it would be first.
Group LTCi Market - a Huge Boomer OpportunityThey are also going after the group market in a big way - the boomers is where it's at and they are in the process of planning their retirement now - if you are marketing to businesses for health insurance you need to talk to us about this!
We are in the process of putting together some webinars for you to get you up to speed.
In the meantime...here are a couple of brochures:
The product is approved in NY and NJ and new software is ready. For those of you who already have the software I sent you a link to update it. There is going to be a built in underwriting guide and some other goodies in this update.
Launch kits for the new product are available upon request - be sure to request them ASAP as they are going fast.
We'll be discussing this in further detail in our Coaching Club teleseminar today also.
I believe this new product will prove to be the biggest thing in LTCi in a very long time! Even allowing you to go back to existing clients and add a CASH BOOST to supplement what they already have. Give us a call or send an email for more details.