Marketing Plan

For Property and Casualty Agents

Existing Database / Client List


By: George A. Mellendorf
Fall 2005

Sorting your database - finding your target market

After reviewing the most recent edition of Broker's World LTCI Survey - July 2005, I found the following data to be of interest…

Do you know your target market??

  • Average Purchase Age in 2004 - Age 61
  • Lifetime Benefit = 1/3 of all sales in 2004
  • Overall Average Benefit Period Purchased - 4.1 years
  • Benefit Increase Features - 82.5% of policies issued w/BIF
  • Elimination Period - 66% of policies issued with 90-100 day elimination period
  • Average Premium in 2004 - $1929.00
  • Top 3 carriers; Genworth, John Hancock and MetLife accounted for 53% of business written in 2004
  • Endorsed Group Discount - 5.4% of policies issued w/EGD

By Age/Sex:
Average age in 2004 - Age 61
65% of purchasers of LTCI have been females

By Income:
70% of purchasers of LTCI have incomes of at least $45,000/year


Marketing Samples:

Genworth:

John Hancock:

MetLife:

Mutual of Omaha:

Physician's Mutual: