- 7,066
Even though Med Supp companies typically pay first year commission for the first six years, I rarely keep a Med Supp client with the same company for usually more than four years.
-
Do you have any victories you'd like to share for the month of May? Help us celebrate others by posting here.
AARP Commissions
- Thread starter North American
- Start date
Even though Med Supp companies typically pay first year commission for the first six years, I rarely keep a Med Supp client with the same company for usually more than four years.
- 8,707
That was my point...The fact that an MA company in particular is willing to pay commissions for 10 years is kinda a joke..First what is the chance a plan will remain in place for 10 years....I know some carriers have combined plans and stolen clients from agent in that process....
I can see staying with a Med Supp carrier for 10 years but even then I can see rates changing over a 3-5 year period where clients can benefit from a move.
- 19,101
I'm pretty sure I'm going to get the same renewals for my Wellcare and Coventry MA business for the next 20 or 30 years.
what are the chances they live past the 10 yrs?
- 15,319
Frank,
I'm a (relatively) newbie with Med Sups. What's the reason that cases only stay on the books for about 4 yrs? Does carrier become that uncompetitive? Thanks.
- 4,707
I actively mine my current med clients to make sure they have the best bang for their buck.
The older they get, the more unreceptive they are to making changes.
Example,
I have a client age 92 on Blue Shield of Ca Plan F, $298/month.
Modern F from AARP/UHC is $215/month.
I have been talking to the daughter.
She will not move her mother.
The older they get, the more unreceptive they are to making changes.
Example,
I have a client age 92 on Blue Shield of Ca Plan F, $298/month.
Modern F from AARP/UHC is $215/month.
I have been talking to the daughter.
She will not move her mother.
- 7,066
Mostly because of premium increases. There is almost always another company I can move them to where I can save them money over what they would pay after the premium increase
- 16,954
I do run into people out there that have been on the same plan for 10 years.
I met a lady recently that had an AARP plan F since she was 65 and paid $310 monthly. She never even thought about reshopping it.
She was age 80 and healthy and very resistant even when I showed her that Gerber would give her the same plan for $159.
I gave her some time and followed up a week later. Her nephew was her P&c agent and contracted with Gerber and applied for it for her.
Thanks Lady!
I met a lady recently that had an AARP plan F since she was 65 and paid $310 monthly. She never even thought about reshopping it.
She was age 80 and healthy and very resistant even when I showed her that Gerber would give her the same plan for $159.
I gave her some time and followed up a week later. Her nephew was her P&c agent and contracted with Gerber and applied for it for her.
Thanks Lady!
- 8,707
I was about to say the nephew probably sold the original policy and never reviewed it in 10 years until I looked back and saw it was AARP.
You did your good deed for the day. I would keep her info and call her back after Gerber has a price increase you never know the nephew might not have the time for anything other than P&C or be out of the business.
