Leading Long-Term Care Insurance Agency Doubles Worksite Sales
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"What's more, we expect another 100% jump this year, and we're just getting started," Cahn adds.
Long-term care (LTC) insurance is starting to catch on as an employee benefit for good reason, according to Cahn. "Employees appreciate it, but there's a bottom-line value for the organization: increased productivity." Cahn explains that more than 50% of America's caregivers are full-time employees. "When there's no insurance to pay for care, employed family members pitch in, and their focus on work can take a nosedive."
When the correlation between LTC education and higher productivity is pointed out, "management takes notice," says Cahn. Then the company implements a long-term care planning program for employees.
"The spouses and extended family members of employees receive the same valuable education and then start planning for their long-term care, so they don't become a burden to the employees," says Cahn.
"Our most productive agents already use this approach with consumers," Cahn says. "They don't dwell on LTC risks and needs. They acknowledge negatives but focus mostly on positives. How the insurance can help maximize effectiveness, reach life goals, realize retirement dreams, and strengthen family values."
At the company's annual conference --
The keynote speaker was
"It's based on the presumption that people want to be educated about the risks and costs of care as they age," he said. "The reality is that no one is interested because no one wants to believe that decrepitude, dependency, senility and helplessness lie ahead, particularly men."
Such thoughts only invite cognitive dissonance because they contradict Americans' bold, hunter-gatherer instincts, which include providing for one's spouse and children.
The way to appeal to can-do Americans, he explained, is to be in sync with their inner drives and essential directives. "For example," says Gordon, "to show how LTC planning can help them protect their kids from having to set their lives aside to care for them."
Currently only about 10% of Americans who could benefit from long-term care insurance have it, according to industry estimates. Could the stumbling block be cognitive dissonance based on misguided marketing?
"Could be," says Cahn. "In 2015 I wouldn't be surprised if our sales double for our consumer business and double again for worksite."
On
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