Becoming a "SENIOR" health insurance agent

[DS4]

i would love to see how the veterans and experts handle their business in the senior market.

1) Have patience. Be prepared to answer the same question today, tomorrow and maybe for a few days beyond.
2) Dazzle the prospect with your knowledge. Explain Part A, B & D., and, see #1 above.
3) Don't high pressure. Once they sense high pressure and bullshit, their defenses go up and you are then fighting a losing battle.

It really is this simple. I've been selling med supps the same way for 32 years now. What helps most of all now is that I'm close in age (58) to the T65 market. The prospects feel comfortable around me.

 

[Iowa]

Midwest is 100% correct. I don't "sell" Med Supps either. I "sell" myself and educate the prospect about Medicare and Medicare Supplement policies. I have mentioned before that at least in Missouri, if I know a prospect has either a Plan F or C, and I can get an appointment with them, then I will write an app before I leave their house 90% of the time. The plan I will write is a D.

I take a logical approach, not emotional, and when I finish educating them about the different plans available, they always see the benefits of a D over Plans C and F or even a G.

Medicare Supplement policies are possibly the easiest kind of insurance to sell. If sold right they are also very easy to keep in force with your client.

Very few of my clients switch just because the company has had an increase.

Actually, "selling" them on the benefits of changing is almost not necessary after a good educational presentation. Especially if it includes the provision of no pre-existing conditions and setting the effective date far enough in advance that they have the new policy before they cancel their existing one.

This goes a long way in putting their mind at ease. Building trust during your presentation is imperative to making everything work.

I spend a minium of almost two hours with a prospect. Trust can't be built in 30 to 45 minutes. At least I can't do it.

Great post, as always, Frank. But what about states that do not have a D available, like Iowa?

 

[Frank Stastny]

Great post, as always, Frank. But what about states that do not have a D available, like Iowa?

If a company does not have a Plan D available then the next plan I will recommend is a Plan G. However, now that Plan N has entered the scene I will add Plan N to the ones I feel is the best investment of their premium dollar.

 

[midwestbroker]

What is your opinion of Association Member Benefits Adviosrs?

Do the clients have to be a member of it (like AARP?). I have never seen or heard of any association out there that can come anywhere close to AARP. Love them or hate them, AARP is still the 800lb gorilla in the senior association market.
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1) Have patience. Be prepared to answer the same question today, tomorrow and maybe for a few days beyond.
2) Dazzle the prospect with your knowledge. Explain Part A, B & D., and, see #1 above.
3) Don't high pressure. Once they sense high pressure and bullshit, their defenses go up and you are then fighting a losing battle.

It really is this simple. I've been selling med supps the same way for 32 years now. What helps most of all now is that I'm close in age (58) to the T65 market. The prospects feel comfortable around me.

Pretty much nailed it. I am on the other side of the age bracket (I am 35) so I have 30 years before I hit Medicare. So, I take great efforts in #2 above, knowing my stuff so my client can feel comfortable with me.

 

[GreenSky]

. I am on the other side of the age bracket (I am 35) so I have 30 years before I hit Medicare.

No, you have 30 years before you're done paying for it.

Rick

 

[Lyle Hibbs]

Does anyone have any idea of a couple of Med Sup companies that are competitive in Missouri and Alabama?

 

[Superchief]

I have been working on an Agent guide to getting into the senior market. It is still a rough draft, but covers the basics of Medicare, Supplements, Medicare Advantage plans and Part D.

It is 13 pages long but I am trying to make it a quick read.

Let me know what you think...I am open to ideas since I am still working on it.

Wow! I'm shocked. I thought it would be one page with two words: "Call Frank."

 

[TwiLight]

Does anyone have any idea of a couple of Med Sup companies that are competitive in Missouri and Alabama?

Contact by Private Message Frank Stastny the member above. Best source for contracts in your State and a great partner to have.

 

[Todd King]

If you can give me some zip codes I can help you out.