Marc Glickman is a highly respected long-term care insurance (LTCi) actuary. Marc is also a good friend who keeps me updated on the numbers side of our business. He recently conducted an informal survey of active producers in the industry, with some very interesting results about LTCi Specialists like me.
Insurance Generalists, unlike me, only turn about five percent of their quotes for LTCi coverage into applications. And only 60% of their completed applications actually become issued policies.
LTCi specialists (like me!) successfully issue about 80% of client applications. Not surprisingly, specialists have the training to understand and respond to client needs in this niche market. They (We) have years of practice and experience in successfully submitting applications for our clients.
You Can Rely on Your LTCi Specialist
Marc reports that LTCi specialists can be at least five times more effective at getting clients coverage. LTCi specialists sell, at minimum, 25 out of 100 quotes generated.
I’ve had a good track record this year. I believe my issue rate is above 80%. And my clients reap all the rewards.
We LTCi specialists also have more products to choose from. We have the experience to design the ideal, customized solution. This creates highly informed, confident, and satisfied clients.
When you’re ready to review your own options, click here to request a free, no-obligation quote for long-term care insurance.