Long term care insurance (LTCI) producers face a number of variables when presenting clients with LTC funding solutions. Among the items to consider are various solutions available, your clients’ needs, plan design, carriers, and the applicant’s health. The sales process can involve emotional conversations both with the applicant and among the applicants’ family. A declined LTCI application can feel like wasted time. Genworth has put together five simple underwriting tips (164512) that may help you increase your placement rate and, in turn, increase the return on your investment of time. Here is a quick summary of the five tips:
- Make sure your licensing and continuing education requirements are current with Genworth.
- Use Genworth’s underwriting tools and guides such as eValuateTM (http://Genworth.com/evaluate).
- Call Genworth’s underwriting hotline (1 888 456.8240, option #4) and speak to an underwriter.
- Share Genworth’s “What Happens Next” (154025) brochure with your clients.
- Avoid submitting applications for the purpose of getting a discount, if you know a client will be declined.
You can start using these five simple and easy tips today – no manuals to memorize, no learning about medical exams, and no need to update back office practices. Incorporating these simple tips into your practice can improve your placement rate, make for happier clients, and increase the return on the time you have invested.