I just talked to Anthony today, my "answer man", and in the course of the conversation he told me that United World is coming out with a Plan C & D. (They currently do not have a plan D or C)
Since he is already a registered memberof the board, I asked him if he would post the information here on the states it is going to be offered in and when the expected release dates are for the new Plans. I believe he said Missouri will get Plan D in May.
As I'm sure you all know by now, I only recommend Plan D so this is especially good news for me.
Since there are about eleven states involved, I figured it would be better for Anthony to do it than for me to try to, and get it all screwed up.
------------------------------------
Medicare Supplement Sales Training and Coaching.
"The Perfect Contact Management Program (CMP) for the Insurance Professional" www.YourInsuranceOffice.com
877.633.0808
As you know, I am in Kansas City, so I sell in both KS and MO. United World is my main carrier since they have the lowest F plan in KS (D is not available through them in KS).
Most of the people I talk to have F. And most of their friends have it as well. What are you doing to get them off of the "F train" and on to D?
------------------------------------
"Government's view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it." Ronald Reagan
15% for a sold plan versus 25% for an unsold plan. Sorta like gettin 100% of nothing but seriousl I just try and sell the best lowest cost regardless of my "cut". 15% of $100 is $15 x 12 months is $180 25% of $125 is $31.25 x 12 is $375 or $195 If you get it OR I can add a final expense plan and give them MORE benefit and put and extra $300 (100%) in my pocket for a total of $480
its also the fact that its a new rate on a new plan without any claims against it-so like the rest of the United World products you wont expect to see a rate increase for about 5 yrs.
Excellent point or very low increases worse case scenario.
As you know, I am in Kansas City, so I sell in both KS and MO. United World is my main carrier since they have the lowest F plan in KS (D is not available through them in KS).
Most of the people I talk to have F. And most of their friends have it as well. What are you doing to get them off of the "F train" and on to D?
1. Pointing out that 99.9% of doctors now accept assignment and that is no longer a valuable benefit. (At least that is what I have found in talking to my clients here in Missouri.)
2. Plan F does not have "At home recovery", Plan D does. A $1,400 benefit.
3. When every company I represent has a premium increase, Plan F always gets a larger increase than Plan D. (When Continental had their last increase I believe that Plan D went up about 9% and Plan F went up 25%)
4. After I explain all of that then I show them the difference in premium between Plan D and Plan F.
That's when they pick up their pen and ask where to sign.
If I call a prospect that has a Plan F, I can almost count on writing an app for that person. I don't give them an option. I tell them that Plan F is not a good investment of their premium dollar and if they insist on a Plan F, that they should take it with another agent and call me in a year when they realize that Plan D is a much better policy. I have gotten a lot of referral business from their friends who also have Plan F.
You are the expert, don't be afraid of losing them by recommending a Plan D. You are the one who knows what you are talking about, not their friends who also made an emotional decision as opposed to an intelligent, well informed one.
If they still aren't convinced, I tell them that all agents work on straight commission. The more expensive a policy is, the more money the agent makes. I then ask them if they now know why the agent wrote Plan F for them and told them it was the "best one".
I'm not suggesting you roll all of your F's into a D, but before you put them with a different company you may try suggesting they switch to a Plan D if they can answer the health questions. (Leave out the last comment I suggested if you are switching them. haha)
You will write a lot more business and won't have to go chasing your clients to put them with another company every time there is a premium increase.
thanks Frank.. I guess I jumped the gun and started a new thread on it.. I have the states listed there, its still not set if they will all be effective on the same date or not yet-I will keep you posted on that..
Sorry buddy. Guess I'm the one who wasn't "quick enough on the trigger". Need to practice my "fast draw" some mone. Never know when the bad guys might ride into town.
thanks Frank.. I guess I jumped the gun and started a new thread on it.. I have the states listed there, its still not set if they will all be effective on the same date or not yet-I will keep you posted on that..
Didn't see the great state of Georgia listed. That's too bad. As we are having a rate increase in June. The greater metro are rates are increasing 12% and the other areas are only increasing 3% (these are for Plan F). They'll still be about the cheapest in most areas for Georgia. It will be interesting to see how much cheaper Plan D will be. Right now, the cost difference between F & G is about $60 per year. So it makes since to go with F.
I've been selling Plan D and G for years, depending on the rates offered for the client in their zip code. Actually, C-G are good choices depending on area and what client can afford.
In metro Atlanta, many specialist doctors are not taking assignment, so those clients are better off with excess charges being covered, if the premium is not out of line.
Mutual of Omaha is raising their rates....a client called to say her premium was jumping from $150/m0 to $165 for plan D. She called AARP and for plan F it's $150/mo. Since she has MOA, i can't switch her to United World, but i have another carrier who can offer a lower premium than either of the above. The point here is that some clients will jump ship to save premium, even if they like the agent. COLI is getting high for many.
I've been selling Plan D and G for years, depending on the rates offered for the client in their zip code. Actually, C-G are good choices depending on area and what client can afford.
In metro Atlanta, many specialist doctors are not taking assignment, so those clients are better off with excess charges being covered, if the premium is not out of line.
Mutual of Omaha is raising their rates....a client called to say her premium was jumping from $150/m0 to $165 for plan D. She called AARP and for plan F it's $150/mo. Since she has MOA, i can't switch her to United World, but i have another carrier who can offer a lower premium than either of the above. The point here is that some clients will jump ship to save premium, even if they like the agent. COLI is getting high for many.
Are you in the ATL? If so, who are you using besides United World? You can move the person from Mutual of Omaha to United World and still get paid a little if you were to original writing agent (assuming the policy is less than 10 years old).
You can never tell when an increase is coming, thats why i am weary of jumpin on UWorld cuz they been around a couple yrs. Im afraid if i start writing is when they jump up. PAHLIC was out for 12months before their first 9% increase.
NO PAHLIC isnt very competitve, they came out higher than the competiton and stayed there. I have sold just a few and only because I couldnt talk the people out of an F and thats the cheapist F plan I had being captive.
CGI is the best price out of the captive companies with gahlic. But they take huge increases.
They haven't been in IN for 5 yrs. The commissions arent much lower either. I get 17% for 8 yrs. I have heard you can get 18%. The marketing companies are takin a bigger cut and not doing crap for the agents.
They haven't been in IN for 5 yrs. The commissions arent much lower either. I get 17% for 8 yrs. I have heard you can get 18%. The marketing companies are takin a bigger cut and not doing crap for the agents.
I agree with you but I don't necessarily think that is the case with Anthony's company. Although I have limited experience with them, they are the only ones paying $350 per app for Pyramid that I am aware of. In talking to other agents with other companies, they have told me they are only getting $330 per app.
Premiums vary greatly from state to state with med supps. What may be an awesome deal in MO may suck in IN. That is the main reason I dropped my IL license.
The company I was captive with had awesome rates and virtually no increases, and I sold a ton of it until the late 90' when rates started going up 35% per year. That's about the time I became independent. Even though my commission with them for med supps was only 15%, my last year with them I made over $94,000 at a time when most of the med supp policies I sold were around $70 per month.
I'm generally more interested in the premium increase history of a company and their underwriting/health questions than I am in commissions. If commissions are high and so are increases, I know I'm going to have to sped a lot of time chasing clients trying to get to them before they cancel. I hate chasing clients, if I'm going to chase anyone, I would rather it be girls. Don't tell Jacqueline!
The part about United World that bugs me is what Mutual is using them for. Mutual is taking some monster increases right now, definately more than their norm. Their going behind the agents and marketing UW directly to their Mutual clients, enrolling them and cutting the agent out altogether. And if the agent wants to help and roll the business from Mutual to UW, they get no commissions at all.
At least with UTA when they introduced Loyal American they allowed us to roll the business and still get point in scale commissions.
Has United World been around for 5 years? It may have been filed for 5 years, but it certainly hasn't been released for 5 years.
As far as CGI and their big increases... it was because of loose underwriting on the block originally. It was damn near Guarantee Issue.
Thankfully Ceres cleaned it up some. I know Great American has tightened it up a touch more since they've begun releasing new plans for them.
I understand why Mutual is taking larger increases than normal - they shut it off to new business. As soon as I heard that I started replacing their policies as fast as I could find Mutual policyholders. Talk about picking the low fruit! Sheesh...
I know UW is coming to TX, and I'll likely get appointed with them for obvious reasons. I'm surprised they've stayed out as long as they have!
Anthony... do you work for Gary Boesch and United Agency Services?
Used to work as a recruiter for one of their subsidiaries, Senior Marketing Division, LLC. We had the exclusive with UTA for a while. Did really well for the most part, except that Gary's Clearwater, FL office used to abuse the hell out of us!
After Billy decided to cancel Gary's contract, the legal fiasco that followed, and getting completely screwed out of my cut of the renewals, I decided to go indy.
From what I understand... there's some new Zero Premium Life Insurance Product that's going to make me millions. So everything should be golden from here on out... just gotta figure out who I just got contracted with and what I'm selling.
Medicare Supplement Plan D
Linear Mode
