“Leading with questions: The ultimate key to increase LTCi sales”

1. “Leading with questions: The ultimate key to increase LTCi sales” Robert L. Whiddon Editor, Employee Benefit Adviser Robert.whiddon@sourcemedia.com 202/504-1120

2. Doug RossEM-Power Services dross@empowerltci.com Brad WinnekinsLegacy Services bradw@4groupltci.com Mel SchlesingerCertified Employee Benefits Consultant Academymel4success@gmail.com Today’s Panel

3. Doug Ross Ross founded ElderCare Insurance Agency with his partner Ed Jette in 1996.ElderCare changed its name last December to EM-Power Services, Inc. to better reflect its mission -- to empower insurance producers to capitalize on the growing market for LTCi sold in the workplace as an employee benefit.Over the past several years Ross, together with his partner, built a complete platform including sales presentations, training, backroom support and Web-based tools that make successful worksite cases possible and are not available from insurance carriers. 800-483-1115, x223

4. What’s your approach? • Existing clients? • New relationships? • Become the expert? • Partner with an expert?

5. A Different Approach is Needed…. Required vs. Optional Price Driven vs. Education Driven Analytical vs. Emotional Responsive vs. Proactive Understood vs. Not Understood Commodity vs. Individualized Steal vs. Create Top Level Sale vs. Sold Throughout

6. Get in front of prospects • What would happen if you had an extended illness that wasn’t covered by your health insurance? • Would you be interested in learning how your employees could enhance their health coverage if it didn’t cost you additional premium? • Are you concerned about the quality and cost of your health insurance?

7. Questions weaved into an educational presentation • What do you offer for sponsored savings? • Why do you do that? • What do you offer for health insurance? • Why do you do that?

8. Questions weaved into an educational presentation • Have you lived through a long-term care situation? • How did it affect (you – them – family of person needing care) • Do you think it could happen to you?

9. Questions weaved into an educational presentation • Do you agree that health and disability insurance do not pay for long-term care?

10. Questions weaved into an educational presentation If your employees could see this education AND receive discounts AND potentially receive simplified underwriting AND it didn’t have to cost you anything, would that make sense to look at?

11. Close & enroll • Deliver multi-carrier proposal • Plan enrollment communications and enrollment meetings • Present workshops, meet one-on-one and take application. Source: AHIP Research Findings; Long-Term Care Insurance in 2002, Published in 2004 and U.S. Census Bureau Online information for 2004

12. What Do You Think? • Could it happen to you? • Is it important for your clients to understand LTC? • Will LTCi differentiate you and add value to existing clients? • Would you like a product that can open doors? • Are you interested in additional income? • Would you want a competitor coming in with LTCi?

13. Brad Winnekins Winnekins is the President of Legacy Services, Inc. His firm specializes in long term care insurance (LTCi) for employer groups. Brad has conducted extensive independent analysis of LTCi products and marketing techniques to help employers get the best value for their employees. His findings have been used in articles by the Wall Street Journal, Employee Benefit News and Kiplinger’s. Brad Winnekins Legacy Services, Inc. PO Box 499 Hartland, WI 53029 800-230-3398, Ext. 700 bradw@4groupltci.com

14. Objections to Buying LTCi • Many think it’s too expensive • Many think the government will pay • Many think they can self-insure • Recent negative articles causing fear General Recommendations • LTCi specialists have advantages • Avoid the “one call close” mentality • Use brand name carriers

15. Overcoming Cost Objection • Show cost of LTC services • Explain Medicaid spend down • Ask – Are you willing to lose your retirement savings to the cost of LTC? • Use partial insuring strategy

16. Addressing the Reality of Self-Insuring • Many of us are going to have 20-30 years of active retirement • Savings can be used up on regular expenses • Then in the sunset of your life you could need LTC but not have the money to pay • Kids end up in difficult situation trying to make sure mom or dad get quality care

17. Other Suggestions for Agents • Fully explain inflation protection options • Do legitimate financial suitability testing • Discuss the risk of becoming uninsurable • Do not be afraid to discuss commissions • Be ready to address negative press

18. LTCI Market Update • Partnership programs are coming on-line • Rate increases continue to be an issue • Consumers are worried about stability of carriers • Stock market decline may help LTCI sales

19. Mel Schlesinger With more than 20 years work in employee benefits, it became evident to Mel that most agents were doing and saying the exact same thing with each prospect. It was becoming more and more difficult to create differentiation. Based on his own experiences in building a successful, six-figure income in the employee benefits business Mel created the Complete Employee Benefit Professional Academy to provide truly meaningful training to the Employee Benefit Professional that wants to do more than simply provide a spreadsheet.

20. The power of questions… • Why questions work? • How questions work? • Applying a commitment to better questioning to LTC sales. • Practice, practice, practice

21. Now it’s time for your questions?

22. Up next…“Driving a consistent message from start to finish”December 3rd, 2008E-mail robert.whiddon@sourcemedia.com to join the discussion.