What are you doing to help your clients protect their American Dream?
If you’re not starting a Long-Term Care conversation with all your clients and prospects, we can help you build that into all your sales conversations.
If you asked 100 people what the American Dream meant to them, you’d get 100 answers. Boil it down to a well-funded retirement adventure. The important thing is to help them protect it. So you say, “How do I do this?”
Ask them, “Who is helping protect YOUR American Dream?” You will likely be the only one.
The only one to offer to help them keep a $150,000 balance in a retirement plan from being reduced to less than $20k by a stroke, ALS, early onset Alzheimer’s or other significant health event. We hear about people under the age of 60 dealing with this issue everyday. The great majority — about 90 percent — have nowhere to turn to pay for care but their retirement funding.
If they’re lucky and it’s a stroke — one they recover from and eventually return to work — they go back to work with $15k left in their retirement fund. If it’s something that’s not recoverable, their spouse will be left with only a fraction of what they expected to have available at retirement.
Remind them that the single biggest risk they face is the cost associated with unexpected health expenses after retirement. That risk, in 2020 dollars is over $200,000 per person.
Ask them what their number is. You know… the number — the amount in cash their plan will provide them each month in retirement. Everyone has a number in mind. What they never factor in is the $6k per month hit that number will take when care costs have to be paid.
Confirm that everything we know now tells us with certainty that one of the two of them will need care; it’s highly likely that both will. Either way, the result will be catastrophic.
The solution is simple. How much of that exposure do they want to offload… for about a penny on the dollar? As a specialist in this area, you can negotiate on their behalf with companies that specialize in warehousing risk.
You’re the one. I’m challenging you. I dare you to start asking.