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Re: Prevailing rates 2

Posted by Scott Olson on April 25, 2002 at 07:08:12:

In Reply to: Prevailing rates 2 posted by John Johnson on April 24, 2002 at 22:49:16:

John,

I guess you haven't been reading my posts. I listed several weaknesses in the GE policy.

But, John (or whatever your name really is), EVERY long term care policy has some weakness. There is no such thing as 'THE BEST' policy for everyone. I've recommended GE to about 7% of my clients. Most of them have chosen a 'co-insure' approach to long term care, meaning that they are buying $100 or $110 per day when they know that current costs in my state right now are $150 per day. So, the 'prevailing expense' language is moot if your clients are choosing a 'co-insure' strategy.

To reiterate, there are weaknesses in EVERY long term care insurance policy. The trick is to learn each policy's strengths and weaknesses and make sure that you recommend a policy that is strong where your clients want it to be strong.

What's most important to your clients: short-term needs covered at home? international coverage? informal caregiver benefits? survivorship benefits? indemnity benefits? home modification and medical technology benefits?

The key is to get to know your clients, study your policies inside and out, and put your clients' needs first when making a recommendation.

If you'll do that, you'll have tremendous success.

Scott Olson

Follow Ups:

Re: Prevailing rates 2 Nathan Stec 16:50:45 04/29/02 (5)
- Re: Prevailing rates 2 Scott Olson 21:51:14 04/29/02 (4)
  - Re: Prevailing rates 2 Nathan Stec 16:23:18 04/30/02 (2)
    - Re: Prevailing rates 2 James Baldwin 17:37:43 05/01/02 (0)
    - Re: Prevailing rates 2 Scott Olson 18:04:58 04/30/02 (0)
  - Re: Prevailing rates 2 Nathan Stec 16:18:55 04/30/02 (0)

Re: Prevailing rates 2 : John, : I guess you haven't been reading my posts. I listed several weaknesses in the GE policy. : But, John (or whatever your name really is), EVERY long term care policy has some weakness. There is no such thing as 'THE BEST' policy for everyone. I've recommended GE to about 7% of my clients. Most of them have chosen a 'co-insure' approach to long term care, meaning that they are buying $100 or $110 per day when they know that current costs in my state right now are $150 per day. So, the 'prevailing expense' language is moot if your clients are choosing a 'co-insure' strategy. : To reiterate, there are weaknesses in EVERY long term care insurance policy. The trick is to learn each policy's strengths and weaknesses and make sure that you recommend a policy that is strong where your clients want it to be strong. : What's most important to your clients: short-term needs covered at home? international coverage? informal caregiver benefits? survivorship benefits? indemnity benefits? home modification and medical technology benefits? : The key is to get to know your clients, study your policies inside and out, and put your clients' needs first when making a recommendation. : If you'll do that, you'll have tremendous success. : Scott Olson

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