I spend my days on the phone with agents just like you. One of the most common complaints I hear is how hard it is to get in front of new prospects.  Of course, this dilemma is incredibly important to solve, and I don’t suggest for one second that you stop thinking about that.

After all, this business is a numbers game and the more prospects you meet with, the better chance you have of making a sale.  However, what if I told you there was a way to make a sale without even having to meet a new prospect?

I like to think of a complete retirement plan like a three-legged stool. Income and wealth transfer planning are only 2 legs of the retirement stool. Without also planning for potential Long Term Care needs, your clients’ retirement plan could collapse, like a stool with only 2 legs. While the majority of agents I speak with seem to focus on income and wealth-transfer planning, I would argue that wealth-transfers will only matter if your clients don’t run out of money prior to death. Failure to address long-term care preparation could potentially lead to a depletion of assets prior to death, and the best laid retirement plans can become unworkable if unexpected and substantial long term care costs arise.

Remember that idea from earlier…making a sale without meeting a new prospect? Here’s how you do it. I challenge you to take some time to go back through your current book of business.  Do you have clients with non-qualified funds sitting in accounts that they plan not to use for income?  Even better, do those accounts have a large cost-basis because they have been earning interest in a tax-deferred asset for a long time?  A real opportunity with these funds is to have the conversation about long term care with these clients.  If these clients see a need for this aspect of their retirement plan to  be covered, Tarkenton Financial offers a wonderful outlet with LTC Annuities. The BEST part of our solution is that when non-qualified money is moved into one of these LTC Annuities, when the funds are pulled out for Long-Term Care they are TAX-FREE, thanks to the Pension Protection Act. So, when you 1035 funds with a large cost basis, if the client ever uses the money moved for LTC, the interest they have already earned could also become TAX-FREE.

Interested in more info on the products? Would you like a client-approved presentation to help you make the sale? Want to watch a recording of our recent webinar on this topic? I have all of it, but you have to call me! I look forward to running lots of LTC annuity illustrations for you as you discover new sales opportunities with this concept!  Happy Selling!