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Have you tried ComboCompare?
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ARE YOU SELLING HYBRIDS?
In the 19 months since StrateCision introduced its hybrid Life+LTC policy comparison tools, we've seen growing interest among LTCI producers in adding hybrid plans to their offerings and in using these tools to help clients choose the right hybrid policy for their needs.
There are 3 combo/hybrid tools:
- ComboCompare is a desktop program that you install on a Windows computer and can use with or without an internet connection.
- WebCombo is an online version that you run in a browser, requiring internet access but no installation.
- A Tablet Version based on WebCombo is also available that runs on iPads, Android tablets, and even large cellphones.
The tools are getting lots of attention, but we are surprised from time to time when agents contact us
abo
 ut our
LTCI comparison programs and don't know abo
ut these Combo tools. Apparently we are much better at software development than software marketing, and this newsletter is an effort to get the word out that the tools are available, they work well, and agents are making good use of them.
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RECENT DEVELOPMENTS IN COMBOS
2019 has been a busy year for hybrid/linked-benefit carriers, who need to update their policies to comply with the 2017 CSO life tables and new Principle-Based Reserving (PBR) rules. The new plans must be in place by January 1, 2020. As a result some policies will become more expensive, with premium increases up to 20% for the same benefits. Producers are seeing this as a chance to accelerate sales by telling prospects about the upcoming changes and encouraging them to buy at the lower current rates.
At StrateCision we have been hard at work keeping up with the changes, which will continue through year-end. If you use a Combo program and are concerned about a specific policy, contact us for the current status. Not all carriers provided us with advance data on the changes, which creates delays that we do our best to minimize.
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IT WORKS LIKE THE LTC COMPARISON TOOLS
For anyone who has used our LTC Quote Plus or LTC WebQuote programs, you already know how to use ComboCompare It's built on the same platform, so subscribers can focus on understanding the similarities and differences between hybrid policies and conventional LTC plans.
Since ComboCompare and its online version WebCombo have been described in previous newsletters and on our website, www.LTCA.com, we won't go into the description or the reasons that hybrid plans are taking market share from conventional LTCI. To get these descriptions, fill out this response form and we'll send you more info.
If you have heard about ComboCompare and have been meaning to take a look at it, y
ou can try it risk-free for 30 days and return it if you don't think it will help you understand and sell this new generation of financial products. In other words, you have nothing to lose by giving it a try.
To get
ComboCompare now, complete this
order form and send it to us.
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ORDERING STRATECISION PROGRAMS
Customers sometimes express confusion about how to order or renew their subscriptions.
Here's a guide to the perplexed on ways to order.
1 Order online at
www.LTCA.com: click the
Order Online link in the gray box just below the
StrateCision logo. This brings up an order form to fill out. When you click
Submit, the order is sent to us for processing and orders received by 4:30PM ET weekdays will usually be processed that day. The online form asks for a credit card number that will be used to charge your order.
2 Downoad a pdf order form from the same website by Clicking
Order Form, the link next to Online Order. You can then print the form, fill it out by hand and fax or email it to us.
Faxing is safer if you include a credit card number. If you are
paying by check, mail us the form with your check.
3 Order from within one of our programs, On the main menu, click
Setup, then
Register. If you are renewing, click the
Renew Subscription button. If this is a
new subscription and you downloaded a free trial, click the button
Buy Program. In either case a window will appear showing a link and asking you to copy it to your browser
. The browser will then bring up an order form to fill out online. When you finish and submit the form you will be transferred to
PayPal, where you enter payment info.
You do not need a Paypal account, you can scroll down and enter any valid credit card.
The
advantage of paying through PayPal is that payment is processed
immediately and after you see a confirmation notice, your subscription is registered and you can begin using your registered copy
immediately.
4 Call us at 781-453-1938. We'll take your order and process the same day if called in before 4:30PM ET. This works any time we're here, i.e. business days.
UNDERSTANDING INVOICES
Customers also ask us why they received an emailed renewal invoice and why it shows products they have not licensed. Invoices are mailed out monthly to anyone whose subscription will expire in the next 6 weeks, or has expired in the past year. If you notify us that you no longer want to subscribe, we'll remove you from the renewal list. Those who subscribed as members of a group should contact their group coordinator to renew instead of contacting us, unless their group no longer exists.
The bottom part of the invoice shows comparison tools you have not subscribed to but may be interested in. They are there as suggestions and you won't be billed for them if you don't select them.
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SHORT TERM CARE INSURANCE
Short term care plans are similar to LTC plans in paying for care required because the policyholder is unable to care for herself. The primary difference is that STC plans pay for a year or less for care, while LTC plans pay for 2 or more years of care. As a result, STC plans are less expensive than LTC plans, and typically have less stringent underwriting. Thus clients who don't want to pay for LTCI or can't qualify may be good candidates for an STC plan. Agents who want to be able to offer some coverage to these clients are increasingly adding STCI to their portfolio of offerings. STC plans cover home or facility care with a shorter benefit period, typically 3 months to 1 year. The lower cost and easier underwriting let you offer coverage to clients for whom LTCI is not an option.
Our STC Supplement lets you quote and compare these policies. The Supplement is available to subscribers to LTC Quote Plus, our desktop-based quoting program, and to those using LTC WebQuote, our online web-based quoting tool.
For details on the STC plans we compare, click here. For a sample comparison, click here. The comparison should be very familiar to anyone using our quoting software to compare LTC plans. For WebQuote Administrators, pricing is shown here. The price table also includes the cost for the Tablet Enhancement (see below).
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 Use our comparison tools on an iPad! (or any device with web access) Many agents have online access to StrateCision's LTCI comparison tools through the LTC WebQuote and LTC WebAdvisor programs. General agents and large brokerages offer these programs to their producers on their websites. StrateCision can now offer these web accounts access by tablets with touch-sensitive screens, such as the iPad, Android tablets, and Microsoft Surface. For a small monthly cost, any web account can enable use by tablets, and even large cellphones. Use 2-finger resizing to expand and shrink the screen as needed, and take advantage of the features of modern day mobile computing devices. If you administer a StrateCision web account, see the link in the previous section for pricing for the tablet upgrade. If you are an agent using our web comparisons, contact your account managers and ask for this major enhancement.
Users of our desktop program,
LTC Quote Plus can also gain access to the tablet version. If you have a current subscription to LTC Quote Plus, you can add the tablet program for as little as $99 a year. (The program runs in your browser and requires an Internet connection.)
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In Conclusion
StrateCision sends newsletters from time to time to notify interested persons of new products, improvements, and other changes involving our programs and the LTCI industry. We welcome feedback from you the recipient, regarding the content of these letters and what you would like to see more (or less) of. Send feedback to sales@ltca.com.
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