Over 150.000 insurance professionals and consumers come to the Insurance Forum every month. Click here to register for FREE


Go Back   Insurance Forums > Insurance Agents and Brokers Forum > Senior Insurance Forum

Reply to Becoming a "SENIOR" health insurance agent     
Old 04-08-2007, 10:02 PM   #1
New Member
naddy512 on Becoming a "SENIOR" health insurance agent
 
Join Date: Feb 2007
Posts:17
State: naddy512 is an Insurance Agent from Undisclosed Location
Becoming a "SENIOR" health insurance agent Becoming a "SENIOR" health insurance agent
most have you have probably read "the becoming a health insurance agent" forum and believe me it is outstanding. i love it, step by step directions for newbies like myself. it truely is awesome. however i will be selling advantage plans, supplements, final expense etc to seniors so i was trying to get something going on this forum just like that but that focuses on the steps when dealing with a senior.

i would love to see how the veterans and experts handle their business in the senior market. i need help. i would like to get the same format as the other forum but just pertaining specifically to seniors would be great

PLEASE feel free to leave your two sense it would be greatly appreciated
------------------------------------
  Reply With Quote to Becoming a "SENIOR" health insurance agent
Old 04-09-2007, 06:24 AM   #2
Expert
furlover on Becoming a "SENIOR" health insurance agent
 
Join Date: Jan 2007
Posts:36
State: furlover is an Insurance Agent from Undisclosed Location
Becoming a "SENIOR" health insurance agent
I agree!!

Selling to the Senior market is a completely different animal.

To know how professionals approach and handle marketing and prospecting would be wonderful.
------------------------------------

Last edited by furlover; 04-09-2007 at 07:19 AM.
  Reply With Quote to Becoming a "SENIOR" health insurance agent
Old 04-09-2007, 03:41 PM   #3
Guru
midwestbroker on Becoming a "SENIOR" health insurance agent
 
Join Date: Sep 2006
Posts:2,336
State: midwestbroker is an Insurance Agent from Kansas
midwestbroker is a member of 1000 posts VIP club
Becoming a "SENIOR" health insurance agent
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.
Attached Files
File Type: doc Agent Guide to Medicare.doc (84.0 KB, 668 views)

------------------------------------
Join the Medicare (virtual) Cafe - Where senior market agents drink java and talk shop! - CLICK HERE FOR DETAILS
  Reply With Quote to Becoming a "SENIOR" health insurance agent
Old 04-09-2007, 04:00 PM   #4
Guru
johnrocks on Becoming a "SENIOR" health insurance agent
 
Join Date: Feb 2007
Posts:430
State: johnrocks is an Insurance Agent from Undisclosed Location
Becoming a "SENIOR" health insurance agent
Originally Posted by midwestbroker View Post
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.
I really thought that it was a good read as to the "mechanics" of medicare;which everyone should defintly know before they become involved in selling medicare products;however I think(and this is just a suggestion) your next topic could be on how to "tie" all this together in prospecting and selling. Very good read though.
------------------------------------
  Reply With Quote to Becoming a "SENIOR" health insurance agent
Old 04-09-2007, 04:05 PM   #5
Super Genius
Slick on Becoming a "SENIOR" health insurance agent
 
Join Date: Feb 2007
Posts:127
State: Slick is an Insurance Agent from Undisclosed Location
Becoming a "SENIOR" health insurance agent
Nice write up Michael.
------------------------------------
  Reply With Quote to Becoming a "SENIOR" health insurance agent
Old 04-09-2007, 04:30 PM   #6
Expert
furlover on Becoming a "SENIOR" health insurance agent
 
Join Date: Jan 2007
Posts:36
State: furlover is an Insurance Agent from Undisclosed Location
Becoming a "SENIOR" health insurance agent
Thank you Midwestbroker.

I know of agents who would like to know more about MA plans but don't wish to sell them. This would be wonderful for them!

I absolutely agree you cannot represent your product unless you understand it. Not only Medicare, but Medigap, etc in detail. I also have compared the different MA plans offered by the various companies. I don't pretend to know everything, but I am at least starting to feel I understand the product enough to know what I know and the wisdom to know what I don't know. Hope that makes sense!

What I had hoped was to learn ways to reach Seniors in a way to lessen their stress and involve their families when wanted.

For instance: Has any one tried marketing to their children instead of the Senior?

I read the forum as much as I can and have learned so much here. I seldom post because I honestly don't feel that I am knowledgeable enough. I do believe there are uniqueness to the Senior market though. AM I wrong?
------------------------------------
  Reply With Quote to Becoming a "SENIOR" health insurance agent
Old 04-09-2007, 04:46 PM   #7
Guru
midwestbroker on Becoming a "SENIOR" health insurance agent
 
Join Date: Sep 2006
Posts:2,336
State: midwestbroker is an Insurance Agent from Kansas
midwestbroker is a member of 1000 posts VIP club
Becoming a "SENIOR" health insurance agent
Thanks for the feedback!

I am writing another part to it, marketing and prospecting. I will post it when I have that done.

There is a uniqueness to the Medicare market.

- They only have a few different options to choose from. The carriers to choose from may be vast, but the overall structure is the same.

- The need is greater - Most seniors are aware of the importance of having coverage, since they are at a stage of their life where they are more prone to illness, injury and prescription medication.

- They are bombarded by offers in the mail for insurance, financial planning, etc. Clarity is what they want. It is more education then selling.

- If they have been on Medicare for a while, the fear of changing can be a big one. You can sell them on the insurance, but you also may have to sell them on the benefit of change.

The last one is the one I wish I would have realized a while ago. I would have had more sales!
------------------------------------
  Reply With Quote to Becoming a "SENIOR" health insurance agent
Old 04-09-2007, 09:30 PM   #8
New Member
naddy512 on Becoming a "SENIOR" health insurance agent
 
Join Date: Feb 2007
Posts:17
State: naddy512 is an Insurance Agent from Undisclosed Location
Becoming a "SENIOR" health insurance agent naddy512 is the thread starter for: Becoming a "SENIOR" health insurance agent

midwest, awesome booklet i loved it
looking forward to the one about selling
if anyone wants to throw down their two sense about selling while midwest is working on his other booklet "the one on selling" i think that would be greatly appreciated. i would post myself but i have never sold anything yet haha i need help
------------------------------------
  Reply With Quote to Becoming a "SENIOR" health insurance agent
Old 04-09-2007, 10:06 PM   #9
Guru
senior-advisor-indiana on Becoming a "SENIOR" health insurance agent
 
Join Date: Mar 2007
Posts:11,163
State: senior-advisor-indiana is an Insurance Agent from Indiana
senior-advisor-indiana is a member of 5000 posts Super VIP club
Becoming a "SENIOR" health insurance agent Prospecting
I think a good piece of information about being in the senior market would be "how to prospect" and maybe some opinions on places to buy direct mail, like what pieces have pulled a better return. Do some direct mail companies use better data and get better quality leads?

I personally have used lead concepts, I think then it cost 375 per thousand pieces and I got a 5.5% return in indiana. I sold 5 med supps so far and still have to work some of them.
------------------------------------
  Reply With Quote to Becoming a "SENIOR" health insurance agent
Old 04-09-2007, 11:20 PM   #10
Guru
Frank Stastny on Becoming a "SENIOR" health insurance agent
 
Join Date: Dec 2006
Posts:7,069
State: Frank Stastny is an Insurance Agent from Florida
Frank Stastny is a member of 5000 posts Super VIP club
Becoming a "SENIOR" health insurance agent
Originally Posted by midwestbroker View Post
Clarity is what they want. It is more education then selling.

- If they have been on Medicare for a while, the fear of changing can be a big one. You can sell them on the insurance, but you also may have to sell them on the benefit of change.
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.

------------------------------------
Professional Medicare Supplement Sales Training, Coaching, Support & Contracts.

"The Perfect Contact Management Program (CMP) for the Insurance Professional"
www.YourInsuranceOffice.com
877.633.0808
  Reply With Quote to Becoming a "SENIOR" health insurance agent
Reply to Becoming a "SENIOR" health insurance agent 

  Insurance Agent Forum > Insurance Forums > Insurance Agents and Brokers Forum > Senior Insurance Forum


Tags
health insurance




Similar Threads with Becoming a "SENIOR" health insurance agent
Thread Thread Starter Forum Replies Last Post
Mass Small Businesses Cut Group Health insurehound Health Care Reform Forum 2 02-24-2013 01:32 PM
Health Care Reform will be a long shot in 2009 GreenSky Health Care Reform Forum 7 12-03-2012 11:04 PM
Is This a Good Health Insurance Strategy? horusprim Health Insurance and Ancillary Benefits 24 05-24-2012 02:53 PM
Individual Health Insurance Plans xrac Health Insurance and Ancillary Benefits 48 04-21-2012 04:02 PM
National Health Insurance Co. STIBROKER Health Care Reform Forum 1 09-08-2010 04:57 PM
There Will Not Be Health Care Reform in 2009 Without Republican L kennethbroyles Health Care Reform Forum 2 08-26-2009 04:32 PM
Kennedy Healthcare Bill Breakdown defenderzeta Health Care Reform Forum 23 06-18-2009 04:18 PM
The Lighter side of Universal Healthcare Sam General Insurance Agent Discussions 9 04-16-2007 03:41 PM



All times are GMT -5. The time now is 08:58 PM.

Forum enabled with vBulletin®
Copyright ©2000 - 2017, vBulletin Solutions, Inc.


Join the Forum - It's FREE

Share This Page



Weekly Poll

What’s the biggest selling point for voluntary benefits?