If you’re a first time-buyer, the agent wants to hook you in immediately so that you will attend carefully to the sales pitch. He or she does that in a variety of ways, most of them shady.
Agent: “Look at these statistics showing that you and your husband have a four out of five chance to end up in a nursing home. Your children will not want to take care of you, either.” The agent knows that these statistics will certainly frighten you, and hopes that you’ve recently spatted with your daughter as well.
Your rebuttal: “My children and even my grandchildren have assured us that we will never spend a day in a nursing home. Both of our children have large winter and summer homes with enough room to take care of us if that time ever comes. In the interim, we have the kids’ old rooms to house live-in help if one of us needs ongoing care.”
Agent: “If you can’t afford the premium, how will you afford long-term care when you need it?” Two thousand dollars a year sounds like a lot of money to most of us, even though our life insurance may cost considerably more. Besides, the agent knows that death is inevitable, even if the need for long-term care may not be. Your rebuttal: “The insurance company takes risks. Well, I take risks in my life, too. At this stage of the game, I feel that I have complete knowledge of all the facts. I’m a grown-up and I can handle the risks.”