Which Type of Insurance Has the Most Potential to Make $

[Frank Stastny]

I am of the opinion after about a year and a half of this that the correct thing to do starting out is build a firm base of a commodity type insurance, like medicare supplement, health or P&C, then work the book you build for cross selling life/annuity. The commodity will pay the bills, is an easy sale, and the life/annuity business is pure profit.

Spot on!

That's why, several years ago, I decided that selling Med Supps were too easy compared to the other products I had also been selling and the renewals far exceeded everything else. Add to that there is virtually no service work associated with them and I am the "underwriter".

 

[0b1kanobee]

senior market to me is the most consistent to me
and i can help any agent looking to get in the senior market email me at [email protected] your phone number and name and email information

Go play in traffic you ***!

 

[peopleperson]

Highest paying is the hardest one to sell...LIFE. If you can get good at that, anything else will be easy if you have to or want to fall back into that.

 

[Guest]

Focus on properly serving the client, not the bucks, if you do that the bucks will come as a by product and will be even more rewarding in the end.

I know that when you start selling insurance, final expense and or medicare is a good place to start. My question is where are the big bucks to be made? Is it with annuities? life? other? Just curious. Not looking for a recruiter, just want to know where to aim in 5 years or so. thanks

 

[dennylobach]

I know that when you start selling insurance, final expense and or medicare is a good place to start. My question is where are the big bucks to be made? Is it with annuities? life? other? Just curious. Not looking for a recruiter, just want to know where to aim in 5 years or so. thanks

That is the Estate Planning, Retirement Planning, LTC market.

So how do you get this business. You need to find people that have problems that these products, Single Premium Life
Annuities, Large permanant life policies, Asset based LTC policies solve.

Sell solutions not policies. Big problems require big solutions.

But you asked about aiming 5 year or so in the future. How can anyone know what will be the market in the future. And why wait 5 years...the business is there now.

Why not get a list of turning 65 and engage them about their soon to be future pruchase of med sup policies. Those are the ones that have the assets that will need help.

I personally don't sell med sups, but it's interesting that every client I have that has $500K to $1M in assets had a med sup policy sold to them by an agent who left all that on the table.

Den Lobach
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