We’ve all seen the statistics about families who know they are underinsured, but for any number of reasons haven’t taken steps to remedy the situation. This all too common dynamic creates a huge opportunity for the producer who is willing to take it on. One AIN Member Firm has gone “all-in” on helping families address the need for Long-Term Care planning through the use of old-fashioned door knocking and one specific product: OneAmerica’s Asset Care IV.
A majority of the families approached know they are unprepared for a major health event, but don’t have the ability to reposition a large lump sum to pay for it. However, they have ample room in their budgets for a monthly EFT.
AT A GLANCE:
Product: OneAmerica Asset-Care IV
Premium: $458 Monthly Premium
Situation:
- A 61-year-old single male who is concerned with burdening his children in the event he needs LTC.
- Based on the cost of care in his area, he was seeking $3000 in initial monthly benefit, with 3% inflation.
- Comfortable with a monthly premium approximately $450. Most producers would walk away from this challenge!
Solution:
- OneAmerica’s Asset Care IV with lifetime benefits and 3% compound inflation
Results:
- $75,662 death benefit
- $3,000 initial monthly; $4,400 at age 75
- Benefits will last his lifetime
- Monthly premiums of $458
- Peace of mind for a client who does not want to be a burden to his family
- A first-year commission of $3,052 plus a nice renewal for the producer!
