As Earned Versus Advance

[jdeasy]

Knowing FE and Med Supps/Med Advantage doesn't even come close to being the equivalent of becoming a doctor, even in one field.

In other words, none of it is rocket surgery. Med Supps are even easier than FE to learn. The two fields are tied so closely together that I don't really consider them as separate fields. It's all the senior market. Nothing hard about it.

Now, over the years I've talked with many an agent that thinks they just can't learn more than one thing. I guess you just don't know what you don't know. If an *** like me can learn FE, Med Supps, LTC, & Annuities all at the same time, then surely most agents could at least learn FE and Med Supps.

I personally think that being an expert in both the FE and Medicare side is not that hard if you are a student of the business.

Once you learn medicare I would agree that sups are easier than FE. But learning about medicare is far more challenging that learning about whole life.

Especially when you factor in MA and PDP's. Even if one is not going to sell either of those they better be able to explain the difference to prospects.

 

[TDFnCali]

It is called specialization... If you go to a podiatrist, he will not do surgery on your shoulder even though he may know how and is qualified. He will pass you on to an orthopedic specialist so he can continue to concentrate on what he does best.

Some people want to be generalists in the insurance field but others wan to focus on just one part of the business. I have seen a lot of guys who are successful in one area branch out loose their focus and end up making less money.

Rouse, I understand what ur getting at....I consider myself a specialist in the SENIOR MARKET. But not knowing med supps, if you are in the senior market doing FE, is more like a pediatrician only knowing some things that can affect a childs health & not others....its all child related, they should know it all. Med supps is senior related, so an agent offering that is not getting out of his field, he's becoming MORE knowledgable IN in his own field!

 

[Birdman300]

I can understand his point. If an agent is really successful doing only one thing really well...then stick to that one thing...yes, I suppose that makes sense. I suppose there are also some agents who want to keep their biz as simple as possible without having to take extra time to learn new things. Nothing wrong with that.

I'm in the insurance business, but I don't do P&C. I send that biz to other agents who I know and trust. My bigger concern would be that if I don't help them with their insurance needs then that person is likely to call on some other outside agent to help them. When they have any questions about insurance at all, I want to be the agent they call first. I've aligned myself with several other agents that all have their specialty. I totally get that. However, med supp biz is not complicated and I'd take that biz any day of the week.

 

[HoosierLife]

I know supps and I don't sell them unless the client asks about them anymore.

I try to run 7-8 appts between 10-4pm. Ain't no time to write a Supp! Seriously, if I do write a Supp, I call them when I get home and do an Eapp.

 

[kuhn123]

Rouse, I understand what ur getting at....I consider myself a specialist in the SENIOR MARKET. But not knowing med supps, if you are in the senior market doing FE, is more like a pediatrician only knowing some things that can affect a childs health & not others....its all child related, they should know it all. Med supps is senior related, so an agent offering that is not getting out of his field, he's becoming MORE knowledgable IN in his own field!

That's a great analogy, but I believe it works against your argument:
My 10 year old broke his arm last summer. We did not go to the pediatrician, we went to the Pediatric Orthopedic Surgeon. While I would never go to this guy for a sore throat or a cold, he is THE man for broken bones. He see's hundreds of the exact same breaks every year, and know just how to fix them.
I have done nothing but Final Expense for 15 years, don't even have a health license, never have. I am a specialist. Now if I my business was struggling, or if I was sitting at home without any prospects to see, I would adapt in a hurry and branch out. As it is right now, I have no problem walking away from Medicare business as I have more FE clients that are eagerly awaiting my arrival. There are only so many hours in a day, you just have to choose how you want to spend them.

 

[jdeasy]

That's a great analogy, but I believe it works against your argument:
My 10 year old broke his arm last summer. We did not go to the pediatrician, we went to the Pediatric Orthopedic Surgeon. While I would never go to this guy for a sore throat or a cold, he is THE man for broken bones. He see's hundreds of the exact same breaks every year, and know just how to fix them.
I have done nothing but Final Expense for 15 years, don't even have a health license, never have. I am a specialist. Now if I my business was struggling, or if I was sitting at home without any prospects to see, I would adapt in a hurry and branch out. As it is right now, I have no problem walking away from Medicare business as I have more FE clients that are eagerly awaiting my arrival. There are only so many hours in a day, you just have to choose how you want to spend them.

I see it the same way. Even though I do take the med sup business that falls into my lap. But I did solely medicare with a little FE for 2 years before going all in on FE.

If I did not have a health license now I would see no reason to get one.

I know I can speak for Travis seeing it the same way because he and I have had this discussion.

 

[rousemark]

Knowing FE and Med Supps/Med Advantage doesn't even come close to being the equivalent of becoming a doctor, even in one field.

In other words, none of it is rocket surgery. Med Supps are even easier than FE to learn. The two fields are tied so closely together that I don't really consider them as separate fields. It's all the senior market. Nothing hard about it.

Now, over the years I've talked with many an agent that thinks they just can't learn more than one thing. I guess you just don't know what you don't know. If an *** like me can learn FE, Med Supps, LTC, & Annuities all at the same time, then surely most agents could at least learn FE and Med Supps.

I personally think that being an expert in both the FE and Medicare side is not that hard if you are a student of the business.

Todd, I realize the analogy is a little extreme but I believe it still holds.. And, I don't see how you could say the med sup market is easier for a beginner. Yes, it may be easier to get people to talk to you about it but the knowledge base required is much larger in med sup. Many more government regulations, more complicated products, especially when you factor in MA and PDP... FE is basically knowledge of a simple whole life product.. and the need is a very easily explainable need....

 

[TDFnCali]

That's a great analogy, but I believe it works against your argument:
My 10 year old broke his arm last summer. We did not go to the pediatrician, we went to the Pediatric Orthopedic Surgeon. While I would never go to this guy for a sore throat or a cold, he is THE man for broken bones. He see's hundreds of the exact same breaks every year, and know just how to fix them.
I have done nothing but Final Expense for 15 years, don't even have a health license, never have. I am a specialist. Now if I my business was struggling, or if I was sitting at home without any prospects to see, I would adapt in a hurry and branch out. As it is right now, I have no problem walking away from Medicare business as I have more FE clients that are eagerly awaiting my arrival. There are only so many hours in a day, you just have to choose how you want to spend them.

Yeah I get what u & JD are saying, your points make sense too. I like having both now, but here in Socal, I run into a lot of agents that only do MAPDs, but won't touch med supps... THAT, I'll never understand!