Difficulty of Selling FE Vs Med Supps

[jdeasy]

Personally, I think Medicare Supplements are a little easier sale (especially when the pitch is "I'm trying to save you money!").

I would agree with your comment that there is more money upfront in FE sales.

I actually wrote an article about this very topic on my blog a few months ago -

THE DIFFERENCES BETWEEN FINAL EXPENSE AND MEDICARE SUPPLEMENTS

How many med sup clients do you have?

 

[ExProgrammer]

You can do either over the phone, although that's a lil dicey with medicare, but the failure rate with FE phone sales is a lot higher....I wouldn't start off that way. Plus F2F sales skills will actually make it easier for you to do over the phone.

Dicey? You mean MA is dicey because of the CMS goulash? Med supps wouldn't be dicey over the phone would they?

So you have better returns than mickeyma even though you're both in So Cal?You said something about IE, but I don't think you meant Internet Explorer. What town or area is IE?

 

[PA Bill]

Dicey? You mean MA is dicey because of the CMS goulash? Med supps wouldn't be dicey over the phone would they?

So you have better returns than mickeyma even though you're both in So Cal?You said something about IE, but I don't think you meant Internet Explorer. What town or area is IE?

There is a area in Southern California they call the Inland Empire.

 

[springbokhouston]

1%? That's nonsense.

I average 2-4% and do just fine.
Got in 25 new lead cards in yesterday. Got a hold of 10 and set 7 of them. I even qualified them to make sure no disability, no Tri care and no group plan. Ran 5 of the 7 today and they were all good appts. 2 more tomorrow and then I'll get on my other leads that I've received in the last 3 weeks, all 175 of them.

Chazm, what lead are you running and where are you? Also do you set your own appointments? I'm an FE guy in the conversion process... Cross sold 10 last month and still waiting on some generic leads.

 

[goillini52]

Medicare sales are a lot harder today because of the competition. People start receiving flyers 9 months before turning 65. Big companies like AARP, Anthem, etc. send out tons of flyers. And, there are free lunches with seminars. Also, major companies send mail to their clients turning 65.

The direct mail response, according to the regional sales mgr at Anthem Blue Cross in Los Angeles, is terrible. He told me an agent can not make a living from direct mail in L.A. because of the poor response.

Mail out 1,000 at 1% return = 10 leads. At $450 per thousand, you're lucky to make $1,000 in first year gross commission.

Also, my prospects are telling me they are not only getting a stack of flyers but a ton of phone calls.

So, don't be deceived into believing that Medicare sales will be lucrative. It's harder than final expense because the competition now is so much greater. How many calls does someone get for final expense? Very few.

OMG, you sound as clueless as *ick says you are.

In case you hadn't noticed, he wants to know if selling Med Supps is easier than selling FE. Have you ever sold FE?

 

[Chazm]

Chazm, what lead are you running and where are you? Also do you set your own appointments? I'm an FE guy in the conversion process... Cross sold 10 last month and still waiting on some generic leads.

Just the regular old generic Open enrollment lead cards in Florida. Every time I hire someone to call my leads my appts go down and I end up calling myself.

 

[Glen Shelton]

How many med sup clients do you have?

Enough to form an opinion on Med Supp vs FE.

Maybe if you had read the copy of the book I gifted you (its available in paperback now if that makes it easier for you old timer ) you would know most of my experience as an agent comes from the FE/Life side.

 

[jdeasy]

Enough to form an opinion on Med Supp vs FE.

But not enough to answer the question?

 

[TDFnCali]

But not enough to answer the question?

I have about 55, if that helps, lol!

 

[Glen Shelton]

But not enough to answer the question?

I have issued just over 30 Medicare Supplement applications.