Products outside of FE you feel are particular useful to have

[freshfishy]

Are there any Non FE products you guys who only do FE keep in your bag that actually come up frequently enough to be worth getting? I'm not really looking for one off products but something that you run into somewhat regularly.

I hear MOO Term and a few others that people mention. Just wondering if I'm missing the boat?

 

[Newby]

Are there any Non FE products you guys who only do FE keep in your bag that actually come up frequently enough to be worth getting? I'm not really looking for one off products but something that you run into somewhat regularly.

I hear MOO Term and a few others that people mention. Just wondering if I'm missing the boat?

You definitely want a competitive Med Sup company even if you aren’t plunging into the whole Medicare Advantage thing. Usually Aetna, MOO, Sentinal or one of the companies you already have is fine.

You want a fully underwritten whole-life product that goes down to lower face amounts. I like Trinity, KSKJ, Lafayette. Again look at the companies you already have.

You want a cancer plan. I like Aetna.

Dental Plans if you believe in them are big sellers. I don’t believe in them personally.

One simple annuity company. I love Oxfords annuities. Except they don’t go under $20,000. But you are really wasting time selling smaller annuities anyway unless you just need the practice.

Hospital Reimbursment plans are easy to sell to MA people. I’m not a huge fan. But you run into people that bought them all the time.

But definitely get your FE game strong before adding extras. Don’t get distracted.

 

[WinoBlues]

Are there any Non FE products you guys who only do FE keep in your bag that actually come up frequently enough to be worth getting?

Not sure if you will get an answer from guys who only do FE since, well, they only do FE.

* I do not do FE only. So turn away now.







For life insurance agents only.













However, my discounted suggestion - #1 = SITerm, #2 = child / grandchild whole life, #3 = Non Med Term, Or better yet refer them to me.

 

[Rearden]

Medicare Advantage cross sold to final expense clients.

 

[Northeast Agent]

Newby said:

You definitely want a competitive Med Sup company even if you aren’t plunging into the whole Medicare Advantage thing. Usually Aetna, MOO, Sentinal or one of the companies you already have is fine.

Check out the MS carriers in your area - MOO and Sentinel are not competitive at all in mine, unlike Aetna, even with MOO's HH discount.

Rearden said:

Medicare Advantage cross sold to final expense clients.

Yes, and DSNPs if they're available in your area as well. There are a lot of people on regular MA who should be on one of these.

 

[Rearden]

Newby said:

Rearden said:

Medicare Advantage cross sold to final expense clients.

Yes, and DSNPs if they're available in your area as well. There are a lot of people on regular MA who should be on one of these.

I did an interview with Matt Mungia's agent Adam on how worked his way into the Medicare Advantage market via cross selling to his book of final expense business. See below:

 

[Newby]

Newby said:

You definitely want a competitive Med Sup company even if you aren’t plunging into the whole Medicare Advantage thing. Usually Aetna, MOO, Sentinal or one of the companies you already have is fine.

Check out the MS carriers in your area - MOO and Sentinel are not competitive at all in mine, unlike Aetna, even with MOO's HH discount.

Rearden said:

Medicare Advantage cross sold to final expense clients.

Yes, and DSNPs if they're available in your area as well. There are a lot of people on regular MA who should be on one of these.

Yes on the Med Sups my point is to check your own companies first to see if one is competitive. Agents tend to over complicate everything. With Med Sups one competitive company is enough unless you start selling a lot of them and recognize a need for additional companies.

Really that rule is true for all the cross-sell products other than Med Advantage. With Med Advantage you need all the regional and national carriers if you are going to do it. Because of doctor networks and RX formularies.

 

[Northeast Agent]

Newby said:

Yes on the Med Sups my point is to check your own companies first to see if one is competitive. Agents tend to over complicate everything. With Med Sups one competitive company is enough unless you start selling a lot of them and recognize a need for additional companies.

I was wondering why I saw MOO several times out in the field as they're way overpriced here. Besides them mailing like crazy, a few people said an agent came to the house and enrolled them and I now know there's some local captive MOO offices.

Really that rule is true for all the cross-sell products other than Med Advantage. With Med Advantage you need all the regional and national carriers if you are going to do it. Because of doctor networks and RX formularies.

This is true. It's a pita but a necessary evil. I have a guy on a HMO who wants to go to a surgery center for a hip replacement in another county (out of his service area) in February. Only one regional carrier is in their network; they take MS and very few MAs so it was good I have them.

 

[Newby]

Newby said:

Yes on the Med Sups my point is to check your own companies first to see if one is competitive. Agents tend to over complicate everything. With Med Sups one competitive company is enough unless you start selling a lot of them and recognize a need for additional companies.

I was wondering why I saw MOO several times out in the field as they're way overpriced here. Besides them mailing like crazy, a few people said an agent came to the house and enrolled them and I now know there's some local captive MOO offices.

Really that rule is true for all the cross-sell products other than Med Advantage. With Med Advantage you need all the regional and national carriers if you are going to do it. Because of doctor networks and RX formularies.

This is true. It's a pita but a necessary evil. I have a guy on a HMO who wants to go to a surgery center for a hip replacement in another county (out of his service area) in February. Only one regional carrier is in their network; they take MS and very few MAs so it was good I have them.

As a rule with MOO when you run into someone with their Med Sup if they have been on it longer than 4-years they will be paying a real high price compared to their other options. Sometimes quicker than that depending on what point in the product cycle they bought in.

MOO sells under 4-brands. United of Omaha, United World, Mutual of Omaha and Omaha Insurance Company. So if they are currently selling under the brand United World in your area and if they just recently brought that brand out (they have traditionally had each brand out in 5 or 6- years cycles) they will be priced very low (compared to their competitors) on that product.

The combination of recognized brand and low premium sells a LOT of supplements. As that brand gets closer to 5- years on the market they apply for (and generally get approved for) pretty large rate increases. To the point that they are much, much higher compared to their competitors. So now the healthier clients that understand how this all works (or meet an agent who does) jump off the MOO supplements and go to a lower priced company. But the least healthy block of people are stuck with the plan they are on. In most states they can’t move. They could always go with Med Advantage of course but real unhealthy people that go to the doctor a lot don’t generally like MAPD plans if they are used to original Medicare. So this less healthy block of customers left on this matured MOO brand keep getting larger and larger rate increases each year.

But MOO introduces their NEXT brand for new sales and closes the old brand for current sales. So now they are selling United of Omaha at very low prices but most people you find are on the old United World version at way higher prices at the same time. Then as more years go by there is a third and a fourth brand all priced different on the exact same Med Sup. But every one of the clients you meet calls them what?...Mutual of Omaha.

If the product under a Mutual of Omaha that is currently for sale in your area is not priced real low, just wait. It’s at the end of its sales cycle and a new one is on the way. Other companies do a version of this also but MOO’s cycles have been more obvious and predictable through the years.

When I was in the field running FE appointments and I would ask them after I sold (or didn’t sell) the FE I would ask Who do you have your Medicare Supplement with? It was VERY common that it was with MOO. So the next question was always How long have you been on that plan? It was not uncommon that they were on it through one or two of MOO’s brand changes and very happy with the coverage. Just wish the premium was lower. And if you have read this far you can figure out the rest of the story. Just start by showing them the highlighted line in the Medigap book that different insurance companies sell exactly the same coverage plans but charge different prices. And they all lived happily ever after.