Med Supp Cold Calling in 2017

[holdenc85]

In addition to canvassing local businesses, I've been trying to cold call T65 lists that past week and the experience has been less than optimal. The agency I am with does Medicare as well as Life Annuities, etc.

The area I'm calling is in South Florida. Is this market already saturated? am I better off doing mailers or buying leads?

 

[Chazm]

Your company has you cold calling because they don't trust you with leads and/or you can't buy any yet.
If you're going to cold call, it needs to be 5-8 months out of turning 65.
That said, you should get 1 answer for 10 calls and 1-2 appts per 10 answers. You can probably sell more than half that you see if you're qualifying on the phone. So work that backwards if you want to know how many calls to make.

Here's your main issue, what you are doing is most likely illegal. Down south, Miami area etc, is 90% mapd and your cold call can't lead to a mapd sale.

 

[Glen Shelton]

In addition to canvassing local businesses, I've been trying to cold call T65 lists that past week and the experience has been less than optimal. The agency I am with does Medicare as well as Life Annuities, etc.

The area I'm calling is in South Florida. Is this market already saturated? am I better off doing mailers or buying leads?

We do a lot of Med Supp cold calling - in general FL tends to be less than optimal (High MA%).

Are you selling everything face-to-face?

I have a map on my website of the MA penetration % for every county in FL, that might help you figure out which counties would be better to call ...

 

[tm8340]

I am a new independent agent and am going to be selling med supp, so this caught my eye as I imagine a lot of cold calls will be needed. I plan on spending a lot of time reading through this forum over the weekend as there is so much terrific info. Thanks Chazm for giving me a good percentage on show on calls. Looks like 1-2 appointments for every hundred calls. Looks like I will have to have my sales pitch nailed before that first appointment!

 

[holdenc85]

Hi Glen

The area I am covering is from Delray Beach up to Stuart. the way I see it if the prospect is not on a budget( I live in Palm Beach Gardens) a MedSupp plan should not be that much of a hard sell as it will enable them to see any doctor in the US basically for another $260/mo. as opposed to an MA plan which as far as I know, limits them to a network, right?

In regards to Chazm's comment, he is right about calling 5-8 months out as I have been calling people 1-3 months out as well as some who have already turned 65.

 

[Chazm]

You have one of the, if not the most expensive med supps down there. Which mean claim rates are high. When rates are high, the mapd plans get much more money towards offering their plans, thus they are super rich in benefits.

It may be that you find out that you will mostly be doing mapd.