Doing a lead drop for med supps.

senior-advisor-indiana · 04-27-2007, 01:38 PM

I am going to order a lead drop today. Probably just 1000 pieces. Any recomendations on who to use and what demographics to use? Should I order turning 65 or for 65 and up?

Cenla Agent · 04-27-2007, 01:57 PM

Quote:

Originally Posted by senior-advisor-indiana

I am going to order a lead drop today. Probably just 1000 pieces. Any recomendations on who to use and what demographics to use? Should I order turning 65 or for 65 and up?

I have never done this personally but may do it soon. I was told by an agent that has worked the senior market for 10 years or so that the replacement market is something to go after i.e. those who have been 65 more than 6 months and 66 year olds, etc. The rationale is that the turning 65's have probably been hammered, but that a good number of those 66 or so enrolled in something expensive like UA, etc. (Of course turning 65 is still something to do too). He also said to focus on more rural areas that typically are underserved by insurance agents. A lot of people in these areas have reported to me that they often have great difficulty in getting an agent to come out.

Frank Stastny · 04-28-2007, 12:20 AM

I have tried everything I can think of to entice turning 65 people to buy Med Supps and they always turn out to be the least productive people for me to contact. (I'm open to any and all suggestions.)

My best target market is people from 67 to 75. In general they are still healthy enough to qualify, have chosen their own policy without help when they turned 65 and made a lot of mistakes. (They are like teenagers, you can't tell them anything.)

After they have paid too much for a policy they don't need then they seem willing to at least listen.

Cenla is right. Country folks are much more receptive, they also don't have a number of HMO's to select from. (They all want something for "free".) Some days I think if I hear, "I'm on a fixed income you know" one more time I'm going to drive off of a clif.

Sometimes I say, "I'm on straight commission you know".

senior-advisor-indiana · 04-28-2007, 12:49 AM

I ended up going with lead concepts medicare mailer. Turned out that the turning 65 was bought out for the whole state so i did have a choice but go with over 65. Usually they mail to 65 and up with annual income of $15k + . I had them go with $20k plus to try and weed out some medicaid people. Hopefully they turn out good. I have the product now, so there is no excuse on my part.

policy doctor · 04-29-2007, 02:13 PM

That is a good mail house...i have used them in the past. Even though I never ordered leads exclusively aging in 65, I put the limit on age 79. I found 80+ were either too confused, or in ill health, and hesistant to do business immediately.

Surprisingly, most respondents were in their 70"s. Good. They have had experience with Medicare and their carriers, and saw those price jumps, so open to alternate suggestions.

Usually, they want a lower premium for the same coverage.

senior-advisor-indiana · 04-29-2007, 02:34 PM

I would say my average cilent age is between 74-77.

Cenla Agent · 04-30-2007, 01:19 AM

Quote:

Originally Posted by Frank Stastny

I have tried everything I can think of to entice turning 65 people to buy Med Supps and they always turn out to be the least productive people for me to contact. (I'm open to any and all suggestions.)

My best target market is people from 67 to 75. In general they are still healthy enough to qualify, have chosen their own policy without help when they turned 65 and made a lot of mistakes. (They are like teenagers, you can't tell them anything.)

After they have paid too much for a policy they don't need then they seem willing to at least listen.

Cenla is right. Country folks are much more receptive, they also don't have a number of HMO's to select from. (They all want something for "free".) Some days I think if I hear, "I'm on a fixed income you know" one more time I'm going to drive off of a clif.

Sometimes I say, "I'm on straight commission you know".

I have only sold a few supplements so far, but every one has been to someone who is in his/her open enrollment. The first was someone that was going to go with BC/BS but took my plan that was over $30 per month cheaper. The other two were based on price too, with one being someone who had initially been sold a select plan she wasn't happy with once she thought it over. I think some have a tendency to go with a well-known company, which accounts for BC/BS writing so many. Others will go with whoever is cheapest. Also, it's human nature to want to stay put once you've made a decision. I've had several either turn me down or say "they wanted to think it over" when I presented a supp that is a little cheaper than what they are paying now. I'll find out soon enough, but I'm thinking with the replacement market, the best success is when you have something different to offer, whether it be a substantially cheaper premium for the same Plan, or coming in with a different plan.

insurance0707 · 05-11-2007, 11:30 AM

Senior Advisor…you may want to target your mailings a little more to get a better response. Most Medicare supplements raise their premiums on the insureds birthday. (They usually go up each year due to age). This is May, you might want to mail out to people that are turning 66, 67, 68, 69 and 70 in the months of July and August. This is about the time they’ll be receiving their rate increase and the perfect time for them to receive a card that says….Many insurance companies have raised their premiums 30%....there is now a plan available in your area……You know the lead cards that I mean, right?

insurance0707 · 05-11-2007, 01:07 PM

If they receive the lead card about the sametime they get the rate increase, they're more likely to send in the lead card

senior-advisor-indiana · 05-11-2007, 05:24 PM

In indiana it seems most increases come in January? Yes I do know the cards you mean.

insurance0707 · 05-11-2007, 07:17 PM

In Michigan, most of the Medicare supplements increase with age. So when the insured has a birthday they get a rate increase. You're right though, in January, when Medicare makes there changes to the deductibles, they get another rate increase. In Indiana are most of the companies attaine aged rating or are they issue age rating?

senior-advisor-indiana · 05-12-2007, 02:02 AM

The only ones that I know of in IN that are ISSUE AGE are, United American, Royal Nieghbors, COmbined, Physician Mutual, and I think thats it. The only one that is competitive is Royal Nieghbors

insurance0707 · 05-12-2007, 10:34 AM

We have Royal Neighbors also. I've written for them. They started out in Mi as issue age but I think it was about a year ago, they've switched to attained age rating. I don't know if they've done the same in IN or not.

senior-advisor-indiana · 05-12-2007, 02:35 PM

I dont know, I dont write for them. I have no idea why I am not.

retread · 05-15-2007, 05:43 PM

Quote:

Originally Posted by senior-advisor-indiana

I ended up going with lead concepts medicare mailer. Turned out that the turning 65 was bought out for the whole state so i did have a choice but go with over 65. Usually they mail to 65 and up with annual income of $15k + . I had them go with $20k plus to try and weed out some medicaid people. Hopefully they turn out good. I have the product now, so there is no excuse on my part.

1)Is this the same company out of Grapevine, TX (Chris Weir's company) that is being sued by the State of TX for deceptive ads?

2)I am looking for a credible lead source for the senior market. Does anyone have a suggestion?

05-15-2007, 06:53 PM

Quote:

Originally Posted by retread

1)Is this the same company out of Grapevine, TX (Chris Weir's company) that is being sued by the State of TX for deceptive ads?

2)I am looking for a credible lead source for the senior market. Does anyone have a suggestion?

Yeah, that's them...