Part 1 | Part 2 (viewing now) | Part 3 (coming soon)
In part one of this three-part series on how to break into the mulit-life market, we discussed what multi-life is and what types of business to target. Now how do you present long-term care insurance to the employer? But wait, how do you even find employers to present it to?
You can either advertise in your local newspaper or identify a business area you would like to target. One of our agents targeted law firms. This agent utilized her local yellow pages and chose a few law firms. You will need to make sure you have done your research on the business that you would like to pitch. Other agents utilized their contacts with employee benefit firms, talked to their clients about their employers, partnered with advisors and attorneys.
Once you have identified your target you need to speak to the decision makers. There are various decision makers within a company. It could be the owner, HR director or benefits coordinator depending upon the size of the group. Introduce yourself to them and request an appointment. Take them to lunch and go over what you would like to offer as a benefit for their organization.
You will need to set an appointment at a convenient time when you know you will have their full attention. During the discussion, you’ll want to emphasize the need for LTC and the impact on employee production and attendance. Next, ask them questions to learn more about their particular corporation.
Take along any materials that you can leave them to review, which could be a binder that entails the following: background about yourself and your experience in the insurance industry. Include facts, brochures, tax guides that spell out the savings to the company and how this employee benefit will support the entire company let alone family members.
What are some questions to ask?
Make sure to detail who can enroll and when. Most carriers offer coverage during the enrollment to family members. Make sure to explain how the carrier views family members and new hires for enrollment. Know all the steps involved since each carrier has its own unique process.
Following these few tips will help set you up for success in selling Multi Life insurance and help grow your LTC business. Our Long-Term Care department has helped many agents through this process and is standing by to help you too.
For advice on how to break into the worksite market or how to handle your next case, call Jackie Slaughter at 1.800.786.5566 ext. 3637.