Seniors Scared to Change Companies

[kgmom219]

I suppose, depending on where you are going with this. Roughly 80% (possibly higher) of my clients are female. This was true in the U65 market and continues on the same track with 65+

Its because you are SMOKING HOT!!!

Seriously....keeping in mind that I am a girl. Men in the Greatest Generation are not going to trust a 20-35 year old to understand Medicare. Especially a woman.

I'm not being sexist. Its just my experience in the last 12 years. Once I hit 40, a lot more men have been willing to trust me on the Medicare side.

80% of my clients are men, on all 3 sides (group, U65, O65).

The other thing that I think is probably happening to Klutch is that at a "certain age" people stop wanting to deal with change. Trying to switch a 72 y.o. from Blue to some company they've never heard of is a dead end. These people have seen it all. And the last thing they want to deal with is the turmoil of a new insurance company when their entire calendar is wrapped around their doc visits.

 

[goillini52]

I do have a little grey in my beard (not as much as Bob)...but they can't see that over the phone..LOL.

What're you talking about? Bob doesn't have any grey in his beard...it's all white.

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Its because you are SMOKING HOT!!!

Seriously....keeping in mind that I am a girl. Men in the Greatest Generation are not going to trust a 20-35 year old to understand Medicare. Especially a woman.

I'm not being sexist. Its just my experience in the last 12 years. Once I hit 40, a lot more men have been willing to trust me on the Medicare side.

80% of my clients are men, on all 3 sides (group, U65, O65).

The other thing that I think is probably happening to Klutch is that at a "certain age" people stop wanting to deal with change. Trying to switch a 72 y.o. from Blue to some company they've never heard of is a dead end. These people have seen it all. And the last thing they want to deal with is the turmoil of a new insurance company when their entire calendar is wrapped around their doc visits.

That must be because you're hot.


I started selling Med Supps when I was 20 years old. I never felt like it hurt me, though early on I wondered about the age thing.

Even now that I'm nearing Medicare age, I still have one now and then that won't switch, even though I can cut their premium in half! I agree with you on the older people resisting change. They're comfortable with what they have because they know it works. If they're not hurting for money, they don't mind over paying. I find it harder to switch them off of BCBS when they're 80+ because, "they've had it too long to change now...all that money they've paid in over the years will be lost".

 

[bluediamond]

i have found senior's 75 and above often brings one of their kids with them, if you sell the kid you have the sale. If you have seminar's and the majority are 70 and up and if just one of those senior's has your product or knows you and says something positive about you or your company you have a better chance of getting their business. But you have to gain their trust.

KG I have seen many younger women in the 25-40 age group tear it up with medicare sups and MAPD's.

 

[kgmom219]

KG I have seen many younger women in the 25-40 age group tear it up with medicare sups and MAPD's.

Excellent. Glad to hear it!

 

[WCMason]

For some the bigger the savings the less likely they are to change, oddly enough. They think there must be a catch somewhere they're not seeing, that there is no way they can get the same exact coverage for a grand less a year. That would make it a trust issue, in that they don't believe you when you tell them there is no difference. It may also be that they're not willing to believe themselves foolish enough to have been overpaying so badly for so long.

 

[sman]

Talked to a fellow agent yesterday who had a couple call him about losing their Med Supps due to the carrier ending the plan. He hasn't seen the details yet, but it sounds like it's a Plan J since they said it covers some medications. She's 74 and he's 76. They are paying $1,100 per month. They'll be getting a Plan F for a little over $325 per month.

Just goes to show some people will stick with a plan no matter what. I think I do a fairly good job of educating my potential clients and rarely have one that doesn't want to switch once I've explained everything to them. But from time to time they just don't do it. Of course, I typically get a call from those same people the following year when their rates increase again.

 

[somarco]

Bob doesn't have any grey in his beard...it's all white.

Hasn't been gray in probably 10 yrs.

I find it harder to switch them off of BCBS when they're 80+ because, "they've had it too long to change now...all that money they've paid in over the years will be lost".

AARP/UHC is another where there is intense loyalty.

I don't really pursue anyone over 76 or so because of medical underwriting. If someone contacts me (usually during open enrollment) I quickly qualify/disqualify based on health.

the bigger the savings the less likely they are to change

Very true.

Ran into a prospect a couple of years ago with an OLD United World plan. Could have saved them $1700/yr on an F to F swap (and they were healthy). Couldn't get them to move.

Next!

 

[Todd King]

A person will be paying a ridiculous amount for blue Cross plan F, and when I show them they can save hundreds of dollars per year and keep their same coverage, in some cases they still won't do it because they're reluctant to change companies.

How do you overcome this?

Many times, if you can save them a bunch of money, they just don't believe you. You should always carry your "Medicare & You Handbook" with you so that you can show them where the Gubment even says all plans are the same with each company. That has turned it around for me many times.

 

[pcbinsurance]

"80% of my clients are men, on all 3 sides...."
**************
Racy!

 

[Klutch]

Many times, if you can save them a bunch of money, they just don't believe you. You should always carry your "Medicare & You Handbook" with you so that you can show them where the Gubment even says all plans are the same with each company. That has turned it around for me many times.

This is what I was looking for. I'd say 7 to 8/10 times I'll be able to switch them, but I never knew the handbook contained that info.

Thanks!