RELEASE ON RECEIPT - August 24, 2006

How to Pick a Long Term Care Insurance Agent

Six Questions to Identify a Real Pro, from Fayetteville-based LTC Expert, Ken Merritt

Fayetteville, AR, August 24 - People seeking long term care insurance should buy it through an independent agent. That's what most experts advise. But there's a problem. "How do you find the right agent?" says Ken Merritt, Fayetteville-based Partner of LTC Financial Partners, the nation's most experienced long term care insurance brokerage.

"Consumers get frustrated real fast," he says. "State agencies refer them to carriers, not agents. If consumers look in the yellow pages or do an Internet search, they come up with a grab bag of agents. But how good are they?"

To help consumers determine if an agent is solid and right for them, Merritt suggests asking the following five questions:

1. What insurance products do you offer besides LTC insurance?

"The best answer is zero," says Merritt. "The aim of this question is to find out if the person's a specialist, selling only or mainly long term care insurance. You don't want someone who divides their attention between LTC, auto and life."

2. What insurance carriers do you represent?

"If the agent mentions just one carrier, that's not good," says Merritt. "You want someone who offers a choice among six to a dozen A-rated companies that offer a range of solid, affordable policies."

3. I know insurance agents get paid by commission. Do you get higher rates on some policies?

"The best answer is an unequivocal no," says Merritt. "There's a new industry procedure for equalizing commission income. The best agents make use of it, so they get the same commission rate no matter what policy you buy. You don't want someone who's tempted to push a high-profit item."

4. About how many LTC clients do you have?

"If the agent hedges, find someone else," says Merritt. "A seasoned specialist will have dozens to hundreds of satisfied clients."

5. I understand there are tax breaks and other financial ramifications to long term care insurance. Can you advise me on such things?

"A qualified yes is the best answer here," says Merritt. "Well-informed agents know about the relevant regulations, but don't stray into tax law or estate planning details. Instead, they work with knowledgeable financial advisors, accountants, estate planners, and attorneys."

6. How can I learn more about you?

"If the answer is, 'I'll put a brochure in the mail,' or 'I'll drop by,' look out," says Merritt. "The aim of this question is to find evidence of recognized authority. Can they name local professionals who recommend them? Have they been written up in the newspaper? Are they scheduled to speak at an upcoming event? Do they give talks to groups or companies on request? Can they be found on the Internet?"

Merritt will recommend agents that meet the above criteria, in Arkansas and other parts of the country. "There are over 200 impartial, really qualified people," says he, who may be reached at 479-444-8834. Merritt personally works with selected individuals and organizations.

Ken Merritt began his career in the insurance industry over 32 years ago, and has focused on long term care insurance for the past 7 years. He has received awards and recognition including the National Quality Award, for 22 years and the National Sales Achievement Award for 20 years.

He is a Chartered Life Underwriter (CLU), Chartered Financial Consultant (ChFC) and a Long Term Care Professional (LTCP). As part of the public education service, Merritt will make himself available to area groups and companies for briefing sessions, after-dinner talks, and lectures. Program chairs may reach him at 479-444-8834.

MEDIA CONTACTS:
Ken Merritt of LTC Financial Partners, Fayetteville, AR - 479-444-8834 - www.eranova.com/LTCFP-KenMerritt
Jonas Roeser of LTC Financial Partners - 425-284-4863
Dick Samson of EraNova Institute for LTC Financial Partners - 973-335-3699 – media@eranova.com

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Photo of Ken Merritt: