Larry, Curly and Moe
An Article by Mr. LTC
The current system of selling long term care insurance favors the insurers, their stockholders, the general agents, home office employees, and the agent.
It does not benefit the consumer.
Notice I did not say anything about the product itself in the previous statement -- a product that can have significant value in a consumer's life.
A consumer like me with Young-Onset Parkinson's who is grateful, very grateful for his policy.
But the fact remains that the way we currently sell this product is like watching the Three Stooges at their finest.
Suddenly, in the middle of your laughter, you realize, "Hey, wait a minute, this is my life we're talking about."
You start asking questions, and the more questions you ask, the louder the insurers turn up the laugh-track.
Why? The "R" word.
You see, years ago, Medicare Supplement Policies had their own Three Stooges thing goin' -- so bad that the Federal Government stepped in (here comes the R word) and regulated the industry. Under the new regulations, policy provisions and commission structures were STANDARDIZED.
Is this in the best interest of the consumer? You betcha.
In fact, it's probably the only way this industry will survive.
