How would you respond to a prospect who says...
Long term care insurance is too expensive.
Usually, this objection comes out during the fact-finding stage of the appointment. You can respond by saying, "Mrs. Jones, I can understand why you say that, as long term care insurance can cost a lot. May I ask what you were quoted?" If they can't give you a price, try to find out a range of what they were quoted. For instance, "Was the price you were quoted more or less than $300?" This will give you a range to work with. Then say, "Mrs. Jones, if long term care wasn't too expensive, would you be interested in learning more about it?" The client will undoubtedly say "yes," and you can now continue with your fact-finding presentation.
Thomas Sansone, Brick, NJ
"Since you have about a 50 percent probability of needing LTC and that care costs around $200 per day, a policy that would protect you for three years will run about $200 per month. At one-third of the actual cost, I would say LTC insurance is very inexpensive."
Earl Boyce, Henderson, NV
If the person is around 65 years in age, I would say, "You have a 1 in 2 chance of needing some form of LTC in your lifetime." Or, "I have a product that guarantees your premium will never go up."
Chuck Mueller, Broomfield, CO
"When you compare the cost of LTCI to the value of the choices it provides you and your family, it's actually a bargain. Let me explain why."
Norm Mitchell, Nashville, TN
Next month's objection:
"I don't have enough money to worry about an estate plan."
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