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Hi, I'm rather new to the health ins. field and I'm currently appointed w/Assurant, Nationwide and BCBS in California. I'm wondering how Nationwide is working ...
Hi, I'm rather new to the health ins. field and I'm currently appointed w/Assurant, Nationwide and BCBS in California. I'm wondering how Nationwide is working out for other agents in CA. Many of my applicants have been declined by Nationwide. It seems their underwriting is a lot more strict than others. Any thoughts or tips for a noobie agent? Thanks.
Nationwide also is here in Ohio (I think they are only in two states). Their HSA product is solid and their rates are good...not great. Re their underwriting...similar to UHC, so they rider a lot of stuff.
But they also have a $40-$80 upfront charge since you must be a member of the Farm Bureau. That's one reason why I don't use them very often.
It seems NH's price constantly beats out BCBS & Assurant (not too many options in CA) but strict underwriting is beginning to make me think twice before offering it to applicants. And I have yet to have NH rider any thing. They just flat out decline.
If you are making a lot of your sales by phone I'd suggest getting licensed in another state that has products that you'd like to sell. Even several states if you'd like.
You can get non-resident licenses in a day or 2. Lot of states you can get licensed and apointed with half a dozen good companies for well under $100 total.
Get an unlimited long distance calls line for under $25 a month and you are in business.
Just my two cents...but you may be more effective if the States border your own.
When I am competing against agents 1000 miles away (and most of the time, we represent the same carriers) I make sure the client knows exactly where we are located (most of the time...within 90 minutes).
Sure, I can't give a better rate by being local, but the proximity factor has steered many customers away from the out-of-state agent.
In fact 31 times last year (I keep very close tabs)...a prospect became a client AFTER they bought from EHEALTH or an out-of-state agent. I became their agent of record, when it was pointed out the products were identical and we were in their back yard.
In fairness, I'm sure I lose a lot of business to the out-of-state agents as well. There's currently enough business to go around.
I agree with you about pointing out that I'm in the clients' backyard when that is the case. But when I'm selling out of state I point out that whether an agent is across town or across the country the chances of the person seeing that agent face to face is almost nil. 99% of health insurance is now done on the phone.
EHealth sells far more health insurance than anybody and it is all across the country. Obviously it is a very viable way to do business.
"whether an agent is across town or across the country the chances of the person seeing that agent face to face is almost nil."
Quite true. However, when the applicant has a choice of buying the same policy from an agent with 26 years experience with the same firm that is less than an hour from where they live vs. someone 1000 miles away with less experience (in most cases)...well...sometimes it is an issue.
With the Internet leads, the applicant gets a separate email showing how many miles each agent (or firm) is located from their residence. A tad goofy, but most of the people I deal with are within 100 miles.
It probably only makes a difference 10% of the time. With EHEALTH...that number goes up.
[quote=CHUMPS FROM OXFORD;8999]"With the Internet leads, the applicant gets a separate email showing how many miles each agent (or firm) is located from their residence. A tad goofy, but most of the people I deal with are within 100 miles.
Quote]
Haven't seen internet quotes that tell how many miles an agent is away from the client. Leads I buy don't even tell who the agents are that will be calling."
With broadband phone you can also get a phone number that has an exchange that is the same as the area you are calling into. So when they see your phone number on the caller ID they think you are local.
I became their agent of record, when it was pointed out the products were identical and we were in their back yard.
Lets see. You are marketing from your tent in Lebanon, right?
Lebanon OH perhaps?
Just jerking you around.
I have to agree. More often than not I get a share of the business I would not otherwise simply because I am in state. Sometimes I am less than 5 miles away.
It makes a difference to some people, but not all.
The ones who will buy from eHealth will do so regardless of anything I say or do. They believe they can get a better deal by going direct and wont have to listen to an agent pushing them in to something they dont want or need.
Then they promptly go online and purchase a limited benefit plan from one of the major carriers because it was cheaper than anything I had shown them.
"With the Internet leads, the applicant gets a separate email showing how many miles each agent (or firm) is located from their residence. A tad goofy, but most of the people I deal with are within 100 miles.
Quote]
Haven't seen internet quotes that tell how many miles an agent is away from the client. Leads I buy don't even tell who the agents are that will be calling."
With broadband phone you can also get a phone number that has an exchange that is the same as the area you are calling into. So when they see your phone number on the caller ID they think you are local.
In many cases, it is the same three or four persons (firms) buying the leads. So the customer can be easily warned, since I tend to know who it is.
And as John said...changing your phone number is not the type of thing that gives our business a good name. Besides, in many cases, we will insist that the customer ask for the address that they are receiving the call from.
Som- Yes.... Of course, I am not in the country of Lebanon. I imagine rates are quite high there. I might add, I have been there many times and it is a fantastic country that has been hijacked by Hezbollah and Iran. But I'll quit there.
I have a bunch of groups that are in 9 or 10 states that I don't live in and every once in a while, I will lose an account because someone is local. However, more often that that, they are leaving a local agent because I am showing them something new and better that their local agent didn't show them.
When I call people nearby, I give them the shpiel about having someone close that can be beneficial. When dealing with people far away, I dust off my shpiel about how with internet, phone and fax, I can provide a better deal and better service from anywhere on earth. They both work pretty well.
However, more often that that, they are leaving a local agent because I am showing them something new and better that their local agent didn't show them.
In those particular cases, you have earned the business and you deserve the sale.
In cases were the policies are the same (same compnay, same policy)...well...that's where I make sure they know where I'm located and where everyone else is located.
I don't think intentional deception is what this business is about nor the kind of agent anyone wants to be.
They most certainly will see where you live when they get their policy and see you as the agent of record and your address.
Has absolutely nothing to do with deception. Lots of companies have "local" numbers. That is standard business practice. You missed the mark on this one, John.
If the clients asks you where you live you tell them. If you don't tell them the correct answer then that is deceptive.
I tell my clients I'm home-based. Yes. I don't need deception or trickery to sell. Normally my son is running around playing behind me and we get into a conversation about how nice it is to work from home.
John, let me clue you in to reality. Well respected Fortune 500 companies have individuals in territories working from their "Regional Sales Office" ... The basement of their homes, in some cases the lounge chair next to their swimming pools.
They don't have any regional sales office and noone considers that deceptive.
If you would feel uncomfortable using a "local number" that's your business. Nothing deceptive about it. Common and accepted practice.
My cell phone is a Denver number, and it rarely makes a difference, but sometimes when I deal with prospects in Colorado, they ask where I am from and we get into a whole discussion about why I have a Colorado number and what I love about Colorado and I am then considered local.
I never misrepresent where I am from, nor where I am calling from, but I will use it to make them feel more comfortable with me.
Nationwide Health
That is standard business practice. You missed the mark on this one, John.
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