Selling Med Supps on My Own

[Todd King]

Frank and I have openly posted the rare months were we have written over 80 apps. It can and has been done. However, as an agent grows their client base, the “S” curve begins to flatten out. Service calls happen!

I’m going to hold my powder on BobForester and see what else gets posted by him. Then, if BobForester is the real deal, I’m moving back to the Show-Me-State. Then I’m headed over to Frank’s for that Scotch he promised me.

I too can verify it can be done. I wasn't doing it over the phone though. I ran pre-set appointments 1 1/2 hours apart, 6 appointments a day, 5 days a week. I sold an average of 4-6 a day plus any life I could pick up.
Of course, that left no time for a LTC or Annuity discussions, But I still gathered the info and sold what I could when I could.

So yes, with the right setup it can be done.

I'm still wondering what company he writes for over the phone, and if it's strickly by phone...no wet signature.

 

[Frank Stastny]

I too can verify it can be done. I wasn't doing it over the phone though. I ran pre-set appointments 1 1/2 hours apart, 6 appointments a day, 5 days a week. I sold an average of 4-6 a day plus any life I could pick up.
Of course, that left no time for a LTC or Annuity discussions, But I still gathered the info and sold what I could when I could.

So yes, with the right setup it can be done.

I'm still wondering what company he writes for over the phone, and if it's strickly by phone...no wet signature.

Todd, I don't know about you and MedSuppPro but that is not something that I would want to do on a monthly basis.

That was back when I sold everything face to face. Because of driving time four appointments a day was just about all I could average and a very long day at that. I worked Saturdays and on Sundays if I could get an appointment.

I left a really, really good job to start selling insurance. I did it to put quality back in my life. To approach those kind of numbers each month eliminates any time for me to enjoy the fruits of my labor.

A good goal to have when selling Med Supps is to average one app a day, provide excellent service and make sure it stays on the books. An agent who does that will earn around $75,000 per year in Med Supp commission. That does not take into consideration the FE an agent can also sell to their Med Supp clients.

One app a day, five days a week = 260 apps per year. Average monthly premium of $135.00 a month at a commission rate of 18% equals $24.30 per month in commission. (That doesn't sound like very much money. Read on.) Times 12 months equals $291.60 in commission per year per app. Take that times 260 apps a year equals $75,816 in total Med Supp commissions. (That sounds better doesn't it?)

Do that every year, add to that the previous years renewals and an agent will be making well over $100,000 per year by the third year. Not bad money for only writing one app a day.

And, it is not all that difficult to do, all without the need to purchase leads.. It will also leave plenty of time for quality in one's life.

 

[chp]

How hard of a transition is it to go from selling individual health to med supps? I just started selling Med Supps to some of my clients who are turning 65. I have only sold a few plan F with BCBS, Humana and one with G.R. I do very well (when I work) selling individual health. A deal a day is pretty easy. I have my wife helping me with the back end office stuff, and I buy internet leads, do some marketing on my own. How different/hard is it to transition to med supps? One good thing that should help me, I live in Myrtle Beach, lots of retired folks here. Any of you seasoned reps care to talk, I am willing to listen!

 

[Frank Stastny]

How hard of a transition is it to go from selling individual health to med supps? I just started selling Med Supps to some of my clients who are turning 65. I have only sold a few plan F with BCBS, Humana and one with G.R. I do very well (when I work) selling individual health. A deal a day is pretty easy. I have my wife helping me with the back end office stuff, and I buy internet leads, do some marketing on my own. How different/hard is it to transition to med supps? One good thing that should help me, I live in Myrtle Beach, lots of retired folks here. Any of you seasoned reps care to talk, I am willing to listen!

I believe that selling Med Supps is a lot easier than what you have been doing.

One difference is that virtually all seniors firmly believe that just having Medicare is not adequate. They feel that it is absolutely necessary to have something that picks up what Medicare doesn't cover.

Another is you don't have to worry about underwriting, the agent is the underwriter. The prospect either qualifies or they don't. No rate up, no exceptions, it is either issued or it is not.

No service work or hassling with claims. Everything is automatic with Medicare and Medicare Supplement policies. The prospect does not have to worry about whether or not their doctors are "in network". The "network" of doctors and hospitals is the yellow pages in what ever town they happen to be in anywhere in the US.

Prospecting is much easier. I have not purchased "leads" is at least the last 6 years.

It really doesn't matter where you live. There are plenty of seniors. They are everywhere!

Want more reasons? Give me a call. I've been doing this for a while and would not go back to selling other kinds of insurance. Med Supps are way too easy.

 

[Todd King]

How hard of a transition is it to go from selling individual health to med supps? I just started selling Med Supps to some of my clients who are turning 65. I have only sold a few plan F with BCBS, Humana and one with G.R. I do very well (when I work) selling individual health. A deal a day is pretty easy. I have my wife helping me with the back end office stuff, and I buy internet leads, do some marketing on my own. How different/hard is it to transition to med supps? One good thing that should help me, I live in Myrtle Beach, lots of retired folks here. Any of you seasoned reps care to talk, I am willing to listen!

If you want advice, those are not very competive companies in SC. Loyal American is the hot seller there right now. I hope Woodmen/Assured will be there soon. You can also call me at any time and I'll hlep you out with your senior side. It's not hard at all...If you can sell major medical, medicare will be a breeze for you...as long as you understand a few tricks of the trade. Frank and I both can help you there.

 

[thomasmahiro]

Frank,

Would it be ok if I contact you re: this post and Med Supp. I currently lack experience in this arena and would love to discuss with you.

Thanks.
Tom

 

[Oneputt]

Thank you to all for your replies.

As for the questions...all leads are via the internet coming to the website via ppc. I have always been a top producer in every industry I've been in regarding sales, so that part, particularly working with seniors is not new to me. Product knowledge is key! know your product, and any competition to it. Be able to overcome ANY objection or question with your confidence and knowledge. This is my best advice. Treat everyone like family even if it doesn't result in a sale...and mean it.

As for why i'm asking here and not simply giving advice...I don't know the other side of the industry as I just got my license, came on and did what I do best. Sell. Now it's time to take my talent and build my future, not anyone elses. Therefore, thank you for your advice.

I don't expect anyone to believe my numbers, however think of this. I'm not selling anything to you. Quite frankly I'm slightly embarrased I don't know the answers to the questions i'm asking and actually went 8 months making someone else rich from my skills, however I realize there's a group of seasoned experts on here willing to help. I will certainly return the favor of helping also. I've done far more than 80 supps in a month, but to date that is not the usual. I plan on getting this number to triple digits within the next 6 months as I know it can be done. For all who disbelieve, I encourage you to think outside the box and realize that just because you're not doing it, doesn't mean it cannot be done. I promise i'll share more once I get up going solo.

Thanks again for everyone's insight, I am using it as major motivation!

Bob,

I am new to the forum and this is my first entry. I have been forced into changing careers after 15 years in financial services....nuff said. I have a small war chest that I am going to devote to marketing and was curious to your comment regarding ppc. Are you strictly using SE's for your traffic? I have considered using ppc because I have had some experience with the back end of websites and doing campaigns using Google, Yahoo, etc but I am not a pro. I have two more questions. Did you get any coaching as it regards driving traffic your way and who built your website for you? I would greatly appreciate any advice/experience you would like to share. I am in California so I do not think we will be bumping heads out here unless you market in this territory!

I would appreciate your reply and a link to your website if possible.

Thanks!


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Thank you to all for your replies.

As for the questions...all leads are via the internet coming to the website via ppc. I have always been a top producer in every industry I've been in regarding sales, so that part, particularly working with seniors is not new to me. Product knowledge is key! know your product, and any competition to it. Be able to overcome ANY objection or question with your confidence and knowledge. This is my best advice. Treat everyone like family even if it doesn't result in a sale...and mean it.

As for why i'm asking here and not simply giving advice...I don't know the other side of the industry as I just got my license, came on and did what I do best. Sell. Now it's time to take my talent and build my future, not anyone elses. Therefore, thank you for your advice.

I don't expect anyone to believe my numbers, however think of this. I'm not selling anything to you. Quite frankly I'm slightly embarrased I don't know the answers to the questions i'm asking and actually went 8 months making someone else rich from my skills, however I realize there's a group of seasoned experts on here willing to help. I will certainly return the favor of helping also. I've done far more than 80 supps in a month, but to date that is not the usual. I plan on getting this number to triple digits within the next 6 months as I know it can be done. For all who disbelieve, I encourage you to think outside the box and realize that just because you're not doing it, doesn't mean it cannot be done. I promise i'll share more once I get up going solo.

Thanks again for everyone's insight, I am using it as major motivation!

Bob,

I am new to the forum and this is my first entry. I have been forced into changing careers after 15 years in financial services....nuff said. I have a small war chest that I am going to devote to marketing and was curious to your comment regarding ppc. Are you strictly using SE's for your traffic? I have considered using ppc because I have had some experience with the back end of websites and doing campaigns using Google, Yahoo, etc but I am not a pro. I have two more questions. Did you get any coaching as it regards driving traffic your way and who built your website for you? I would greatly appreciate any advice/experience you would like to share. I am in California so I do not think we will be bumping heads out here unless you market in this territory!

I would appreciate your reply and a link to your website if possible.

Thanks!

 

[Frank Stastny]

Frank,

Would it be ok if I contact you re: this post and Med Supp. I currently lack experience in this arena and would love to discuss with you.

Thanks.
Tom

Sorry for not getting back to you sooner. Been out of town.

Yes, please do.

 

[EFLTEACHER]

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Justin you and I have worked in call centers, and see the big picture.

How much money there is to be made with insurance.

Most insurance agents are not ambitious enough, to be high level producers.

Probably because we truly like the business and are not in it solely for the money, although many of us make a good living, which over time, makes us wealthy. While we are doing it, however, we are enjoying life, not waking up in the morning fearful about where our income is coming, nor do we need to make so much money that we build call centers , scrounge up every internet lead we possibly can and crowd the industry with unprofessional agents that give everyone a bad name.

I just wish some people would stay out of the business I love,