Tuesday January 11, 2011

2011: Your Year of Social Influence

January is a month of new beginnings. While things are starting to pick up after the holidays, it is the perfect time for you to do a marketing audit. Go ahead: pull out all your materials and social media and look at them objectively.

• Are your materials still current?
• Do they look like they come from the same company?
• Are they sending out the same messages?
• Are they integrated into your sales process?

The most beautifully designed and brilliantly written marketing programs are worthless if they are not being used. Get your materials out of the storeroom and into the sales process!

If you haven’t yet jumped on the social media bandwagon, now is a good time to consider it. Social Media Marketing is growing, and is the most cost effective way to reach some audiences.

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Rich White’s Ideas for Filling the LTCI Gap

The long-term care insurance (LTCI) market is in turmoil as sales fall, premiums rise, and companies exit the market. Yet, protecting against long-term care costs remains a major concern of retired people and potential caretakers. The Community Living Assistance Services and Support (CLASS) Act, part of Health Care Reform, will create a limited voluntary federal LTCI program funded by payroll deductions, starting in 2011. The CLASS Act is one of the few parts of Health Care Reform that is not very controversial and is likely to survive, although participation rates are still unknown.

Financial advisors should begin to educate clients about the Act and its potential. A good FAQ is here.

Advisors also can help clients evaluate the long-term care riders attached to some permanent life insurance policies. At little or no extra costs, these riders will advance part of the policy’s death benefit to meet nursing or home health care costs.

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