I am considering offering some ancillary products to business clients and wanted to get feedback on some of the newer plans in addition to the more traditional.
Is anyone marketing:
Auto club
Prepaid legal services
Hearing aid services
Payroll debit cards
Vision
EPLI
Among the more traditional (dental, LTD, STD, executive carve out) what seems to be the best sellers?
Thx
------------------------------------ The doctor is in. Five cents please. You can find me here
Prepaid Legal, while a MLM, happens to be a good product. For a long time, I was not only a member, but a sales rep as well. I made it clear to the person that got me involved that I wanted no part of the MLM portion of it. She did not pressure me to do so, and I was somewhat successful selling it.
We have used many times, and have been happy with the response time, the representation, and the customer service.
I can't speak for the other items you listed, but PPL is a good product to sell. Just make it clear to the person who signs you up as a rep that you want no part of the MLM portion of it.
When I left someone's office or house where the health app was not completed, the PPL app was completed, and with a $25 check in hand. It's a great way not to leave empty handed.
I've been a memeber of Pre Paid Legal for many years now. I never had a problem with them. They have saved me a lot of money on legal fees over the years. They are well worth the 25.00 a month. Two months ago I signed up for there identity theft product for another 10.00 a month. They not only look at credit reports for unusual activity but they go to small court houses where you've lived before and other places ID theft companies generally don't look at.
They do that to make sure there is no strange activity going on. I get a monthly report sent to me via email. It's great and the attorneys are A rated by Martindale Hubble. I can't say enough positive things about pre paid legal. I can't tell you what a relief it is to be able to pick up the phone and call my attorney without having to think about the cost. If I thought about the cost, I would never have called an attorney and would have suffered for it.
I have not sold a significant amount of any of the products listed, which is why I am looking for feedback. The only products listed that are not "mainstream" where I have had limited success in the past are vision care & prepaid legal services. I mostly dabbled in those areas, made a few sales, lost interest & moved on.
My focus for most of my career has been group health insurance, primarily large cases (fully insured, ASO & self funded). I left that segment a few years ago, did other things, then got back in the business about 3 years ago concentrating mostly on individual & small business accounts.
The listed products are mostly geared toward very large groups but I am not sure I want to re-enter that market, and especially with a product that is mostly unproven. Some of them can be adapted to small group but I view them more as door openers than a steady income source.
There is a great theory that's hard to argue with in principle that your current clients already like and trust you so why not offer them more products. In reality it seldom works. My other issue is decent ancillary products that actually perform well. I don't need to lose a client because the dental/vision plan I sold them sucks.
What's worked best for me - and I'm sure this will bring debate - is just ton concentrate on health insurance. Period. To me, offering this huge array of products is kinda like a successful Italian restaurant deciding to offer Chinese food in hopes of getting more customers. After all, it's all food, right?
There is a great theory that's hard to argue with in principle that your current clients already like and trust you so why not offer them more products. In reality it seldom works. My other issue is decent ancillary products that actually perform well. I don't need to lose a client because the dental/vision plan I sold them sucks.
What's worked best for me - and I'm sure this will bring debate - is just ton concentrate on health insurance. Period. To me, offering this huge array of products is kinda like a successful Italian restaurant deciding to offer Chinese food in hopes of getting more customers. After all, it's all food, right?
John,
Have you experienced any issues with selling ancillary products to your clients? For example, you recommended that people here in MD obtain a Careington plan because of numerous reasons. I checked into being able to sell Careington plans and an agent can net $35 per application with 25% renewals for the life of the discount plan. Do you not consider that an incentive to sell those plans if you are going to refer them to Careington anyways to meet their dental/vision needs?
-J.R.
------------------------------------ "Tell me and I will forget. Show me and I will remember. Involve me and I will understand." Confucius
There is a great theory that's hard to argue with in principle that your current clients already like and trust you so why not offer them more products. In reality it seldom works. My other issue is decent ancillary products that actually perform well. I don't need to lose a client because the dental/vision plan I sold them sucks.
True. You would have to be sure the product is a great product. I used to sell Ameriplan sometime ago, but when they raised their fee schedule the plan was really not a very good bargain anymore.
John,
Have you experienced any issues with selling ancillary products to your clients? For example, you recommended that people here in MD obtain a Careington plan because of numerous reasons. I checked into being able to sell Careington plans and an agent can net $35 per application with 25% renewals for the life of the discount plan. Do you not consider that an incentive to sell those plans if you are going to refer them to Careington anyways to meet their dental/vision needs?
-J.R.[quote]
My clients had too many negative experiences with Careington so I stopped selling it. The dentists love to play stupid when a client calls with "What? Careington? Never heard of 'em." Then the client has to get agressive and say they're on the Careington list.
Then the dentist wants to play the game that they have no clue what the negotiated rate is. I've even had client bring in the rate sheet and the response is "I didn't agree this."
Just too much bs. Plus, it's a given that no one's current dentist takes the plan. I have enough headaches with health insurance - I don't need angry clients over a $35 commission.
John,
Have you experienced any issues with selling ancillary products to your clients? For example, you recommended that people here in MD obtain a Careington plan because of numerous reasons. I checked into being able to sell Careington plans and an agent can net $35 per application with 25% renewals for the life of the discount plan. Do you not consider that an incentive to sell those plans if you are going to refer them to Careington anyways to meet their dental/vision needs?
-J.R.
Quote:
My clients had too many negative experiences with Careington so I stopped selling it. The dentists love to play stupid when a client calls with "What? Careington? Never heard of 'em." Then the client has to get agressive and say they're on the Careington list.
Then the dentist wants to play the game that they have no clue what the negotiated rate is. I've even had client bring in the rate sheet and the response is "I didn't agree this."
Just too much bs. Plus, it's a given that no one's current dentist takes the plan. I have enough headaches with health insurance - I don't need angry clients over a $35 commission.
What do you recommend then to prospective or current clients who would like some assistance with dental and/or vision?
I tell them the truth - that most dental/vision plans are simply not worth it. Even dental insurance through Aetna or Blue Cross isn't worth it. For example. Aetna's family rate for dental insurance is around $70 per month. For that you get free preventative....or do you.
$70 X 12 = $840 Say it's a family of 4 - that's $210 a piece. I have nothing and when I get my teeth cleaned the dentist charges me $60. Same with my wife and son.
So what about larger events? I attatched the Aetna dental brochure. Larger events are just a discount. So what's the discount? No one will tell you. I know what the discount is - it's C R A P.
I had group dental with Blue Cross about 6 years ago. My wife broke off a part of her tooth and needed major work. The dentist didn't even want to accept the Blue Cross dental card we had saying her procedure wasn't covered under the insurance. We asked about the discount - it was barely 10%. We paid thousands.
Dental is a load of crap. That's what I tell my clients. Careington vision? We had it. It's 10% off an eye exam and 15% off contacts. It's also $10 per month or $100 a year. An eye exam anywhere is $100 so you save $10. Again, not worth it.
I agree with you, John, and that's why I stopped selling PPL. Very good product. Compliments health and life. But, not worth it, going around the city, picking up small $$.
That's why I concentrate on small businesses (no more than 49 employees) and individual/family plans. These are the ones that the MDRT's are overlooking. I have actually walked away from a few sales, rather than sell them Dental or Vision coverage.
PPL agents are excellent people to network with, though. They always know someone, or a company, who needs coverage. My PPL lady moved to CO., so I just gave it up when she moved. Never met anyone else I cared for, who sold PPL.
Ancillary products
Linear Mode
