Places to Prospect for Senior Insurance

michaelgasb · 06-11-2009, 06:29 PM

I am working in the senior market on insurance does any one have a good idea of some places to prospect for insurance clients. Some of the places you would suggest going.

squeed · 06-11-2009, 07:21 PM

I'm not an agent yet, but ideas that I would have are :

1. Church or Synagogue
2. Over 55+ communities (gated but you could call ahead)
3. Adult clubs (Masons, Elks etc ...) - get your mind out of the gutter
4. Volunteer organizations and events
5. Diners on week days for breakfast
6. Over 55+ un-gated communities
7. Grandparents.com
8. Atlantic City or LasVegas Casinos
9. The theater (Broadway etc ...)
10. Country Clubs, Golf Clubs, Tennis Clubs etc ...

-S

arnguy · 06-11-2009, 07:46 PM

I'll add restaurants that have "early bird specials' and/or senior menus!

brkrsrevolution · 06-12-2009, 06:40 AM

I will add BINGO Halls! You could sponsor a round and maybe they would let you attach business card to the Bingo Card.

Newby · 06-12-2009, 07:21 AM

Originally Posted by brkrsrevolution

I will add BINGO Halls! You could sponsor a round and maybe they would let you attach business card to the Bingo Card.

Years ago, I actually helped sponsor the BINGO part of the county fair. It ran from 9:00 am till noon. It was a packed house. I paid for spaggatti lunches and "dobbers" (the marker they use on the BINGO cards.) I called the numbers for the BINGO games.

During lunch, I simply walked around and spoke with people I already knew and/or had sold policies to and talked to them. They introduced me to the people thay were sitting around. I sold several policies directly off that and it gives you name and face time with a lot of people.

That brings up a good give-away that Mark Rosenthal hasn't mentioned yet- Have your logo and contact info on BINGO dobbers and give them to all the Catholic churches and other BINGO halls. Then offer to help them with BINGO. You meet and talk to a LOT of people that way and get some good exercise (walking around selling the pull tabs.) This is not a good plan if you are opposed to churches taking a LOT of money away from poor people who can't do math. It's freaky how much money they take in each night.

Frank Stastny · 06-12-2009, 07:31 AM

Riding an OATS Bus. (Older Adult Transportation Service)

No joke. I have a client who drives one. When I went to deliver her Med Supp policy she was getting ready to leave to pick up a bunch of seniors and drive them into town to go shopping. She was so pleased with the amount of money I saved her that she said I HAD to tell others about it and insisted that I ride along.

She picked up about 12 seniors that day, pulled over and introduced me and told the group that while she drove into town she wanted me to them them about the Med Supp policy I sold her. I stood up in the front of the bus, like a tour guide, and talked to them about Medicare and Medicare Supplement policies.

I bought them all lunch that day and ended up selling four policies.

In the last sixteen years I have tried everything one can think of, probably at least twice, to sell Med Supps. I mean everything including riding an OATS bus. I have put on seminars at senior centers, knocked on doors, purchased every kind of lead available, rented a booth at a senior expo, walked up to seniors in public and started a conversation, even pumped gas at a service station on "senior day".

The one thing that I keep going back to time and time again is the telephone. Prospecting for Med Supps is extremely easy, easier than any other kind of insurance. It is the most cost effective and consistently productive way of selling to seniors.
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Originally Posted by Newby

Years ago, I actually helped sponsor the BINGO part of the county fair. It ran from 9:00 am till noon. It was a packed house. I paid for spaggatti lunches and "dobbers" (the marker they use on the BINGO cards.) I called the numbers for the BINGO games.

During lunch, I simply walked around and spoke with people I already knew and/or had sold policies to and talked to them. They introduced me to the people thay were sitting around. I sold several policies directly off that and it gives you name and face time with a lot of people.

That brings up a good give-away that Mark Rosenthal hasn't mentioned yet- Have your logo and contact info on BINGO dobbers and give them to all the Catholic churches and other BINGO halls. Then offer to help them with BINGO. You meet and talk to a LOT of people that way and get some good exercise (walking around selling the pull tabs.) This is not a good plan if you are opposed to churches taking a LOT of money away from poor people who can't do math. It's freaky how much money they take in each night.

Newby, helping at BINGO is an awesome idea. And I thought I had tried "everything".

I'm sure the reason that worked so well for you is that you were there specifically to help and interact with them as opposed to just being present. My short stint at pumping gas was fairly successful for he same reason.

Markingriffin · 06-12-2009, 08:22 AM

Originally Posted by michaelgasb

I am working in the senior market on insurance does any one have a good idea of some places to prospect for insurance clients. Some of the places you would suggest going.

WALMART!!!

Frank Stastny · 06-12-2009, 08:54 AM

All of the places listed above are good places to go to "see" a lot of seniors. Are they good places to prospect for Med Supp sales? Probably not. You will be perceived more as a pest than someone who wants to help.

I'm sure you already know where to go to "see", visually lay eyes on, large number of seniors. I think what you are really asking is once you get there how do you approach them.

Unless you are there specifically to help them with whatever the reason is that they are there you are just another one in the crowd and are probably going to an annoyance. Newby has the right idea.

His being there was for a specific reason, it was well thought out and planned and he was there to help. He provided a valuable service that they needed. Actually he was there to "sell himself".

I try to stress to agents I train that they should forget about trying to sell insurance. It is a lot easier to sell themselves and educate the prospect about insurance.

If you want to go to places like Wal-mart, talk to the manager and ask if you can stand at the check out counter and offer to help seniors carry their purchases to their car. Where ever you go, have a reason for being there.

It's going to be hard to go to a social club where seniors gather and make it appear that you are there just to relax and enjoy yourself. They may be old but they are not dumb.

moonlightandmargaritas · 06-12-2009, 09:00 AM

Originally Posted by Frank Stastny

even pumped gas at a service station on "senior day".

Fill 'er up...and shake the hose.

Frank Stastny · 06-12-2009, 09:09 AM

Originally Posted by moonlightandmargaritas

Fill 'er up...and shake the hose.

I think the guide lines on that are if you shake it more than three times you are playing with it.

moonlightandmargaritas · 06-12-2009, 09:35 AM

Originally Posted by Frank Stastny

The one thing that I keep going back to time and time again is the telephone. Prospecting for Med Supps is extremely easy, easier than any other kind of insurance. It is the most cost effective and consistently productive way of selling to seniors.

While this seems counter intuitive to me in this age of the Do Not Call list, caller ID and voicemail/answering machines, I'm intrigued.

There was a guy on here a week or so ago that posted he was getting a very low percentage contact (people answering the phone).

I'm going to test it.

Frank Stastny · 06-12-2009, 10:08 AM

Originally Posted by moonlightandmargaritas

While this seems counter intuitive to me in this age of the Do Not Call list, caller ID and voicemail/answering machines, I'm intrigued.

There was a guy on here a week or so ago that posted he was getting a very low percentage contact (people answering the phone).

I'm going to test it.

I remember that post. I have been doing this for a long time and yes, there have been days when it seemed like they all must have been at "The Wal-mart" or getting their hair "died blue". However, I don't think one can accurately evaluate anything by the results received over a relatively short period if time.

The phone is for prospecting and generating leads. Hot leads that ultimately result in sales. Maybe not always the day the agent calls but more often than not within the next 12 to 18 months.

The vast majority of my clients come from my prospects database. My approach on the phone is specifically designed to get the single most important piece of information I need, before giving them the opportunity to say, "I'm not interested", to ultimately turn that prospect into a client.

Selling Med Supps is unlike selling any other kind of insurance. At least I have found it to be that way. What I say on the phone would not work nearly as well for any other insurance product. It is specifically designed to prospect for and sell Med Supp insurance.

The ones I don't sell on the initial phone call usually become clients in the not too distant future. There is no "magic" way of selling any kind of insurance. However, there are ways that make it a whole lot easier.

arnguy · 06-12-2009, 12:32 PM

Originally Posted by Markingriffin

WALMART!!!

Don't they have a "no-solicitation by non-employees" policy? Except, of course, if you are selling products made in China!

Markingriffin · 06-12-2009, 12:37 PM

Originally Posted by arnguy

Don't they have a "no-solicitation by non-employees" policy? Except, of course, if you are selling products made in China!

There is a way around it. I have a couple of agents doing it. You just happen to bump into them and start talking. Then you had them your card.

I've heard a lot of good things from agents that prospect from Walmart, but they do it in a smart way.