Best Products to Sell to Build Passive Income After Establishing Book of Business

[MindfulAction]

Pretty much the title. What are some of the best insurance products to sell that allow for the best opportunity to make a lot of passive income. I have read that Medicare Advantage is a great one for passive income. What are some other ones and how would you rank them? Thanks in advance!

 

[MindfulAction]

One more question: what are some good combinations of insurance products that allow for high first year commission and also allow for passive income with the opportunity to cross sell? For instance, I think a good combination would be medicare advantage and final expense. Any other good combos?

 

[Rearden]

Final expense (first-year commission product) cross-selling into Medicare Advantage (lifetime renewal income product).

Here's how Adam did it starting with final expense, then moving to Medicare Advantage, writing 1,000 MA's last year:

 

[Todd King]

You're best bet is to actually target the product that will build the passive income stream that you're looking for. Sell Med Supps and MA Plans and THEN cross-sell FE.

If you do it from the FE side you're pretty much limiting yourself to MA plans. Limiting yourself is not the way to do it.

I don't know of a single agent that has sold FE and cross-sold anything that would build any kind of real passive income. Just won't work that way.

 

[Travis Price]

You could also do Disability Income to Term.

I bounce myself between Medicare and Disability as to the product I want to sell. I love Medicare, but during election years it can be a little bit scary.

Disability is a more difficulty product to sell than Medicare, but it's a product everyone needs. Furthermore, the competition is lower. You're also building a future clientele for Medicare (provided it's around as it is now when they retire.)

I agree leading with FE isn't a great option for residual.

PS: Renewal income isn't exactly passive. However, you want to build a book that pays income, which I understand.