Steps in Selling Long Term Care Insurance
To help make the sale of Long Term Care insurance easier for you, here is a simple overview of the process:
Step 1: You asked your client, “What’s your plan when you need Long Term Care?” Download and print the Quote Request and Pre-Screening Questionnaire from under the “Working With Us” tab. Fill out as much of the information as you can – complete medical information is vital to preparing an accurate quote.
Step 2: Scan, Fax, or complete the fillable Quote Request and Pre-Screening health questionnaire to Northstar at 650-692-5204 (or call us at 800 303-1527).
Step 3: Upon receiving the information on your client(s), we will review the information and recommend best carrier and policy (based on health information and coverage requirements).
Step 4: We have a LTC presentation that can guide you to develop the need and explain how coverage works. Then once the client agrees to move forward, contact us. We will work with you to get the necessary forms for completion. (Application forms are available for most carriers on our website).
If you need to be appointed with a carrier, click on the “Working With Us” tab where you may access our online appointing system. You only need to complete the information once regardless of the carrier.
Step 5: It is important to advise your clients of how the Underwriting process for LTC works which usually involves at least one of the following:
- A telephone interview of each client; and/or
- Review of all medical records; and/or
- A face-to-face interview (usually over age 70); and/or
- In most cases, a paramedical exam.
Note: Since the new HIPPA regulations, many Medical Facilities will have their own forms that must be completed – which we will not know until we request records. In such cases, delays are inevitable. As soon as the Carrier is informed of this requirement, we will notify you and work with you to get the appropriate authorization signed.
Step 6: Complete the required forms and submit them directly to Northstar along with at least 2 months premium. (One month in CA and NH.)
Step 7: Northstar will then verify that all the required information is included and submit the case to the selected carrier. We will be responsible for following up on the case as it proceeds through the Underwriting process. We will keep you informed as to the process by e-mail. Be assured that we will do whatever is required to get the case issued as quickly as possible.
Last Step: Once the case is approved, we will immediately forward the policy to you for delivery to your client. If there are any changes or if any delivery requirements are needed, we will advise you at that time. Once you collect the premium and any additional required documents, remit it to Northstar in our pre-addressed envelope. We will then immediately send it to the carrier. Most carriers pay commissions weekly (If Direct Deposit).