How Medigap Insurers Sales Rewards Hurt Seniors on Medicare

[20th Maine]

10 Pct a YEAR? Do you have a link you can post about that stat? Not quibbling---have never heard of an overall retention stat

 

[axeman462]

You will never go wrong when you put your clients best interest before yours. Too many have commission goggles on and never bother to ask the prospect what they want.

I agree, which is why I offer my clients more than one option.

 

[Yagents]

. Ya agents client mix is the only reason he can handle 1500 alone . Aca is very very little service work during the yr . I hardly write any and I got 130 on books . I get maybe 5 calls a month . Outside open enrollment you get few calls . He sells all med supps so few few calls on that . Pdp’s he’ll get some service calls . Now those 3 months of open enrollment are brutal . But the other 9 months I bet he hardly gets 5-8 calls a week . I get 7-12 calls a day .

Thanks for acknowledging the structure of my business model as being highly desired, and could be a lesson for those starting to grow their book.

ACA and med supps are a beautiful combination for a book of biz. All of it kind of came together by accident by targeting middle/higher income self employed over age 40 initially with BNI networking and fin advisor referrals, then when ACA launched it doubled my indy biz, and accidentally created an endless pipeline of T65 over the past 10 yrs.

I have the highest profit margins possible ($0 spent on marketing, 100% referrals, no employees, little overhead w home office) and the lowest level of service work (10 + calls a week, + 40 emails a week). I hit it hard for 4 months and part(y) time for the other 8 months. I seek no new biz and chase nobody down. 1 return call and then it's up to them to call me.

My clients are well trained, book phone appts in timely manner during open enrollment, Don't miss the appt and most are prepared after I send out a lengthy email with instructions.

Selling in AZ and FL also expands my workable hours during OEP by 2-3 hrs a day with time zone differences. Used to be 6am to 7pm, now i work 7am to 6pm as I get better at managing clients each year and they get used to my process.

I will say, these past 90 days were brutal, and getting more difficult as I age and the stress rises. Adding more product lines like mapd or life ins would kill me and my model. I have learned......Less product offerings = more $$. It's backwards thinking, but it has worked.

 

[rmhaire]

So, don't tell me what I can or can't do, just because YOU can't do it.

Only 70 posts in and you've managed to pick a fight with half the members on the forum. I'll admit one thing ... You're a scruffy little fella.

 

[DonP]

I don't do seminars. I don't get overrides, and my business structure works independent of marketing money, and HRA's. Why? Because I know how to market and how to CROSS-SELL! I get 2 - 3% response rates on my direct mail. I close 15-20%. I already have 26 April 2024 T65's in my calender to close for next month. Will probably get 18-19 of them (75%). But I also get a life sale for every 20 leads (because T65 leads are also FE leads). And that's simply asking "who do you have life your insurance with?" So, I do 4-6 life policies a month without even trying. Because I'm more focused on Medicare. With my assistant I can double that easily.

I'm building my agency so that I am replaceable. That's been my intent from the start. We obviously have different situations, backgrounds, skills sets, and math skills. So, don't tell me what I can or can't do, just because YOU can't do it.

#1 your a bold faced liar if you say your getting 2-3% returns in Ala on T-65 mailers unless it’s a teaser mailer. I’m the king of medicare direct mail doing more mailers in aep than you drop in 12 months . I also wrote 50% more apps in aep alone than you wrote all yr . Tell your BS to someone else . Your dumber than I thought getting no marketing money

 

[axeman462]

#1 your a bold faced liar if you say your getting 2-3% returns in Ala on T-65 mailers unless it’s a teaser mailer. I’m the king of medicare direct mail doing more mailers in aep than you drop in 12 months . I also wrote 50% more apps in aep alone than you wrote all yr . Tell your BS to someone else . Your dumber than I thought getting no marketing money

I thought @Chazm was the king?

 

[somarco]

15- 20% closing ratio isn't impressive . . .

"hyper sensitive women" seems just a wee bit mysogynistic

 

[Chazm]

I thought @Chazm was the king?

DM? The only DM I do these days are for my seminars. They call to RSVP. I will never work a DM lead ever again

 

[rmhaire]

Funny that you call someone dumb when you don't know how to read.

What is it with all this reading comprehension bullshit? We may not have your brilliant intellect but we do know how to read.

Or is it that y'all are some hyper sensitive women?

Trust me. We're not sensitive. And the last time I identified, I had a pecker. In fact, I'm finding your posts both entertaining and funny as shit.

I have just one question though. Are you by any chance related to Toolbelt?

 

[rmhaire]

15- 20% closing ratio isn't impressive . . .

"hyper sensitive women" seems just a wee bit mysogynistic

What does his gynecologist have to do with it?