What is Your Opinion on Packaging Products with Health Insurance?

Insurance Man

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Hey guys new to the forum. What is your opinion on packaging products when you sell? I have been doing this for years and it works good for me. I make great money putting in some critical illness with my health products. What do you think? I have some great companies and I have had a heart attack without critical illness and now can not get it. Looking forward to your thoughts.
:)
 
generaly agents sell aditional products to hide the shortcommings of the health policy... most guys are just tricking up the health policy to convince the client it is adaqaute for their needs... a good major medical agent will bust your chops and replace it and boom your policy is bye bye and you get a major charge back.... most agents selling addon policies are taking advances
 
generaly agents sell aditional products to hide the shortcommings of the health policy... most guys are just tricking up the health policy to convince the client it is adaqaute for their needs... a good major medical agent will bust your chops and replace it and boom your policy is bye bye and you get a major charge back.... most agents selling addon policies are taking advances

x2. It's way too easy to pick out the shortcomings of policies that need extra benefits sold separately. Once you really point it out to the client, they usually want to switch to a better plan. I've heard of some people packaging critical illness plans with HSA's, but by the time you add that cost it may not make quite as much sense. Depends on the situation I guess.
 
But is it more effective to present the add ons on the front end verses the back end? Kind of like giving them options and they decide: health with CI, DI, Dental, Life, accident, etc? Does it muck up the sales process or just give them options and position you as the expert? Opinions please.
 
Aren't these indemnity products (CI, Accident) to help pay the deductible on the Major Med plan? If so, isn't it a good ad-on to sell high deductibles and protect the client from exorbitant oop?
 
Aren't these indemnity products (CI, Accident) to help pay the deductible on the Major Med plan? If so, isn't it a good ad-on to sell high deductibles and protect the client from exorbitant oop?

Isn't that the purpose of a lower deductible? I'd rather pay the extra money for a lower deductible than to fight to get a claim paid with a CI/accident carrier and then have to use that money for my health expenses. I would think by the time you end up adding the cost of those policies, you may as well have just lowered your deductible and then you don't have to worry about what does or doesn't qualify as an accident or CI.
 
Nice theory but what happens if it's not a critical illness or accident? Say they have to have their gall bladder or appendix removed? That's right...they meet the deductible.

Aren't these indemnity products (CI, Accident) to help pay the deductible on the Major Med plan? If so, isn't it a good ad-on to sell high deductibles and protect the client from exorbitant oop?
 
Hey guys thanks for the interaction. First of all you never sell CI or accident by it self unless that is all they want. I can put it with a strong catastrophic plan with a 1500 deductible with RX and basically all it is lacking is office copays. Most of our clients are small business owners and if they can put $2000 of annual premium in there pockets instead of the insurance companies, they would rather pay for the office visit of $100 there selves. I also include a outpatient rider that is only a $1000 deductible so if they have a lot of out patient expenses it is taken care of. If they have a heart attack there insurance is going to cover it up to $7,000,000, but what about the loss of being out of work for 6 months? That is where CI cuts in. It took me 6 months to recuperate, but without CI I had to get back to work in 2 months, much earlier then I should have. So it is there to cover there personal bills. At the time of cancer or heart attack, $50,000 or $100,000 lump sum payment sure comes in handy.

Bruce
 
Hey guys thanks for the interaction. First of all you never sell CI or accident by it self unless that is all they want. I can put it with a strong catastrophic plan with a 1500 deductible with RX and basically all it is lacking is office copays. Most of our clients are small business owners and if they can put $2000 of annual premium in there pockets instead of the insurance companies, they would rather pay for the office visit of $100 there selves. I also include a outpatient rider that is only a $1000 deductible so if they have a lot of out patient expenses it is taken care of. If they have a heart attack there insurance is going to cover it up to $7,000,000, but what about the loss of being out of work for 6 months? That is where CI cuts in. It took me 6 months to recuperate, but without CI I had to get back to work in 2 months, much earlier then I should have. So it is there to cover there personal bills. At the time of cancer or heart attack, $50,000 or $100,000 lump sum payment sure comes in handy.

Bruce

I am really confused on what you are selling.
Is it a health plan and then your selling a supplemental plan along with it? What carriers sell a supplemental plan that is going to give you $50,000 if you have a heart attack?
 

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