When I read the following letter, I contacted Dale Reynolds and spoke with him.

Letter to the Editor: Marketing LTC Insurance Is Not About Money Or Statistics
Dale O. Reynolds writes: This is in response to the November 2005 feature article in LTC e-Wire on the last 4 years in the LTC industry, written by Trevor Thomas. I have been involved in the LTC industry since 2001 and have been licensed since June 2004. I am 62 years old and specialize in marketing LTC insurance.

My observations are the following:

  1. Given the size of the potential marketplace, I am amazed at the lack of TV or print advertising by the major players in LTC market.
  2. I am appalled at the level of apathy/lack of interest from tax professionals, financial planners and estate attorneys in wanting to discuss LTC issues or make recommendations to their clients or even a professional like myself.
  3. I don’t understand Mr. Dobbie’s comment (in the article) about shopping prices. A good marketer should provide a prospective client with at least 3 quotes. I can do this in minutes. Harder to shop? No way…with the software that’s available.
  4. Because I specialize in marketing LTC products, I don’t find them complicated at all. You have to do your homework. If someone doesn’t want to do that, they shouldn’t be selling LTC.
  5. Marketing LTC products isn’t about money or statistics, it is about having a plan. This is the “rational” approach. My success has been from equating every day life (people have a plan for everything) to what they are not doing and the financial and emotional risks they face if they don’t have a LTC plan. People make marriage plans, educational plans, college plans, financial plans, vacation plans, golf plans, daily plans, etc. Once they realize their retirement nest egg is exposed, it becomes a no-brainer.

Dale O. Reynolds, Jr. Principal The Stockbridge Group Redwood City, Calif.dale@thestockbridgegroup.com

Karen’s comments: In our conversation, Dale and I agreed that although marketing long term care insurance remains a challenge in both our countries, the path to success is definitely visible. Advisors need to see the writing on the wall and educate themselves about life planning. Selling new products takes vision, time, education and above all, persistence!

PRESS ON
NOTHING IN THE WORLD CAN TAKE THE PLACE
OF PERSISTENCE. TALENT WILL NOT; NOTHING
IS MORE COMMON THAN UNSUCCESSFUL MEN
WITH TALENT. GENIUS WILL NOT;
UNREWARDED GENIUS IS ALMOST A PROVERB.
EDUCATION WILL NOT; THE WORLD IS FULL OF
EDUCATED DERELICTS. PERSISTENCE AND
DETERMINATION ALONE ARE OMNIPOTENT.

O. William O’Quin, CLU, ChFC, RFC
Financial Services Online
225-387-9845
boquin@ix.netcom.com

What LTC News and Views users are saying:

Karen,
(CLTCC) is the Corporation for Long Term Care Certification that work with financial professionals to help them make long term care planning part of their practice. We certify these reps during a two day class and they can earn their designation (CLTC) Certified in Long Term Care after taking an exam at Prometrics. You can read more about our organization at www.ltc-cltc.com.

I also work with The Guardian Life Insurance Company as the Director of Long Term Care Insurance. We have offices in Ohio, West Virginia and Pennsylvania with around 150 financial service representatives.

Your information is outstanding because it deals with caregiving and its affect on families. I will credit you anytime I use any of your information…

Thanks again,

John
John V. Fontana
Luttner Financial Group
Pittsburgh, PA
john_v_fontana@glic.com