How did you get into the industry?
I got into the LTCI Industry as a result of seeing my mom taking care of my dad who had suffered a mini stroke while also battling colon cancer. She attended to his care for 1 1/2 years. They moved a hospital bed into the dining room, converted a closet into a 1/2 bath that was accessible; since he was unable to ascend the steps to the only bathroom in the house. This caregiving compromised my mother’s health since she had little sleep and put her own well being on the back burner. A few years later, after my dad had died, she required home care and ultimately ended up in an assisted care facility near my sister. This firsthand taste of what needing long Term Care does to the Family dynamics, ie: arguments among siblings, etc., shed the light on the need to purchase this insurance while you are well and able to express your desires for care, as well as prevent any arguments and finger pointing between family members. This has negative effects on the whole family, not just the person needing care.
What do you think is the main problem(s) that LTC currently faces? How will you help solve it (these)?
People are living longer because of technology and medical breakthroughs, which will cause more people to need help with this issue. Most are not planners and tend to procrastinate and be in denial regarding the need for this type of insurance. They think their health insurance covers LTC, or they will rely on family members to care for them. Most people are afraid of knowing the reality until they experience it in their own family, which acts as their wake up call. The LTCI carriers did not price this properly years ago, so now the plans are very costly, making a sale even more difficult.
I belong to two Chambers of Commerce so I network on a monthly basis with members who are financial planners, CPAs, and business owners. I am always looking for new customers and try to find opportunities to spread the word about LTC. I also provide educational workshops with local organizations to provide information about the issues and answers for a change in one’s health and protecting one’s estate. Each month I send out birthday cards and annually send out a magnetic calendar with my business card and a letter reminding them of the tax write-off for their policy. I provide periodic policy reviews and also speak to each client regarding rate increases, with review of their choices and options going forward. I send out emails with articles and information regarding the importance of LTCI to prospect for new clients with existing ones, each time I connect with them.
How did LTC Global Agency help in your career?
So far, so good. LTC Global Agency has given me a platform with more tools, connections, and products to enhance my possibilities.
Why is LTCI important?
This is the last issue everyone has hanging over their quality of life and wellbeing that needs to be addressed and resolved. The consequences of an LTC health event can wipe out a family’s lifetime achievements and retirement savings regardless of what age this might occur. The consequences of a devastating health event causes a huge burden on all family members as their lifestyle is interrupted and may never be the same. The decisions of caring for a loved one is difficult under ordinary circumstances but without having the funds to provide the proper care is a heart wrenching problem that no one wants to deal with.
How will you convince people to purchase LTCI?
I don’t convince people to purchase LTCI. I listen to them. I ask thought-provoking questions as to their experience with LTC in their family, what issues they are trying to avoid, or what they want to accomplish by purchasing a policy, I ask what their long term goals are for their family or legacy they want to achieve. I make sure that the plan I assist them with will satisfy their decision to have this insurance and it has to be affordable now and down the road. I tell them I cannot manufacture reasons for them to buy this; it has to be their decision based on their experience and their desire to protect family, assets, and quality of life.
Firsthand LTC experience leads to effective (and reasonable) LTC solutions. Louis is definitely an outstanding LTCI agent that truly understands why coverage matters, by taking the time to understand his clients’ circumstances. Please leave a comment below if you have any questions or suggestions, or visit our site for more LTC insurance solutions.
About the Agent:
Louis Werbalowsky is a Long Term Care Insurance Specialist with LTC Planning Group of NY, part of the LTC Global Network. He has been providing Ltc Insurance Solutions to area residents since 1999. He specializes on the award-winning program called the NYS Partnership for Long Term Care.
His prior work experience has been in the field of human services, providing personalized attention to solve both people and practical problems.
You may reach him here:
Louis Werbalowsky LTCP/CLTC
Insurance Agent for LTC, Life & annuities
12 Park Dr.
Woodstock, NY 12498
845 679 2017