As an insurance advisor, starting the conversation about long-term care insurance (LTCI) can be challenging. Many clients either assume they won’t need it, believe they can self-fund their care, or simply don’t want to think about aging and potential health issues. However, proactive planning can make all the difference in ensuring financial security and peace of mind. That’s where the P.L.A.N. approach comes in—a simple yet effective way for advisors to guide clients through the LTCI discussion.
Read More: Top 5 Long-Term Care Insurance Facts Every Agent Should Know
P – Personalize the Conversation
Every client’s situation is unique, so a one-size-fits-all approach won’t work. Instead of diving straight into policy details, start by understanding their lifestyle, goals, and concerns. Ask questions like:
- “Have you thought about how you’d like to maintain your independence as you age?”
- “Do you have a plan in place if you ever need extended care?”
- “What role do you see your family playing in your future care?”
By framing the conversation around their values and priorities, you create a more meaningful discussion that helps them see LTCI as a tool for protection rather than an unnecessary expense.
L – Look at All Options
Many clients assume LTCI is either too expensive or too rigid. Educate them on the variety of coverage options available today:
- Traditional LTCI – Offers comprehensive coverage but requires ongoing premium payments.
- Hybrid Policies (Life + LTC) – Combine life insurance with long-term care benefits, ensuring some return on investment.
- Asset-Based LTCI – Allows clients to reposition existing assets to fund long-term care needs.
- Self-Funding vs. Insurance – Compare the costs of paying out of pocket versus leveraging an LTCI policy.
By presenting flexible solutions, you can help clients find a plan that aligns with their financial situation and comfort level.
Read More: 3 Advantages of Hybrid LTCI
A – Address Affordability & Benefits
One of the biggest objections to LTCI is cost. Instead of focusing on price alone, highlight the value of having a policy:
- Protects Retirement Savings – Without insurance, long-term care expenses can quickly deplete assets.
- Preserves Family Relationships – LTCI reduces the financial and emotional burden on loved ones.
- Offers Choice and Control – Clients get to decide where and how they receive care.
Break down costs in relatable terms. For example, compare the monthly premium to everyday expenses, such as dining out or a cable bill. Position LTCI as a smart investment in their future well-being.
N – Navigate the Future Together
Purchasing LTCI is not a one-time transaction—it’s a long-term strategy. Reinforce that you’ll be there to help them review and adjust their plan as needed. Encourage them to:
- Discuss their decision with family so everyone is aligned.
- Regularly review their policy to ensure it still meets their needs.
- Stay informed about industry changes that may impact their coverage.
By positioning yourself as a trusted advisor, you build stronger relationships and increase the likelihood of client referrals.
Read More: How to Effectively Close a Long-Term Care Insurance Sale
Long-term care planning isn’t just about buying insurance—it’s about ensuring security, independence, and financial stability. Using the P.L.A.N. approach allows advisors to simplify the conversation, address concerns, and help clients make informed decisions.
The best time to plan for long-term care is before it’s needed. Are you ready to assist your clients in taking that next step? Book a call with us to get started!