- Thread starter
- #21
Don't flatter me...I lost the cases because I didnt take the order. You sound like some sort of a genius. I hope that you will continue to provide insight and inspiration on this board. Thank you.
Getting Schooled by Med Supp Clients
- Thread starter bill3173
- Start date
Don't flatter me...I lost the cases because I didnt take the order. You sound like some sort of a genius. I hope that you will continue to provide insight and inspiration on this board. Thank you.
Understood and respected. That's the beauty of being independent, we do things our way.
- 1,735
I am new-ish to the Medicare space, and working to be my clients go to person for advice, before they are tempted with the seemingly flashy options.
When I was selling individual and group health insurance as a multi-line agent in another state, I learned to stick with carriers that had rate stability. The low ball intro rates resulted in what I refer to as "that" phone call. Hate that call. "My rates just went up 50%" Or, fiil in with any double digit increase.
I began to explain to them that rates over time matter more than this year's hot new thing.
I am now attempting to balance saving money on Med/Supp pricess with rate stability.
Next challenge, finding carriers who will take certain conditions, have diabetes and heart patients right now.
Really appreciate carriers who can underwrite with phone apps on the spot. Just getting started with that.
Somarco, we'll see if I can stick to not allowing them to make a choice they may regret, not write it for them, goal: not get them stranded with a death spiral rated plan.
When I was selling individual and group health insurance as a multi-line agent in another state, I learned to stick with carriers that had rate stability. The low ball intro rates resulted in what I refer to as "that" phone call. Hate that call. "My rates just went up 50%" Or, fiil in with any double digit increase.
I began to explain to them that rates over time matter more than this year's hot new thing.
I am now attempting to balance saving money on Med/Supp pricess with rate stability.
Next challenge, finding carriers who will take certain conditions, have diabetes and heart patients right now.
Really appreciate carriers who can underwrite with phone apps on the spot. Just getting started with that.
Somarco, we'll see if I can stick to not allowing them to make a choice they may regret, not write it for them, goal: not get them stranded with a death spiral rated plan.
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- 15,319
Really? I completely disagree with you.
I never lose a case on coverage since all plans are standardized. If I present a Plan F and it's more than their current carrier I can't place it. Going to Plan N is the alternative but even so it's based upon PRICE. If the savings doesn't justify the move to Plan N then it doesn't happen.
It all boils down to price vs. benefit. I'm the most pleasant and wonderful person in the world. But if a prospect is paying $125 for Plan N and I quote them $150 for the same plan they probably won't change.
Rick
My post was not clear. My response was not referencing replacing existing lettered plan with same lettered plan. Not my target market. I was referring to other situations, perhaps new to Medicare. For my market, the sales process, from start to finish, trumps price, which is almost irrelevant.
- 15,319
Price is generally the #1 reason someone is willing to speak with an agent about changing the supplement. If they don't feel the financial pain, why would they be willing to talk to another agent?
As far as T65 then yes, you can sell quality, etc. but your price better be competitive or next year I'll call the same client and you'll lose the business.
Rick
- 1,735
Getting T65 into the most cost efficient Med/Supp would be my goal. G or N, with best shot at rate stable carrier. Learned this here. Thanks!
If they can't afford Med/Supp, then, OK, MAPD. If they get a serious illness in 1st year, as happened to one of my clients, they were suddenly able to afford Med/Supp, and lucky to get one.
If they can't afford Med/Supp, then, OK, MAPD. If they get a serious illness in 1st year, as happened to one of my clients, they were suddenly able to afford Med/Supp, and lucky to get one.
Look for carriers that have been in the Medigap business 5 yrs or longer. That weeds out a lot of Johnny come lately's.
Not everyone has the confidence to stand their ground but if you are confident in your beliefs they will follow where you lead. I am dead serious when I tell people if they want to buy Manhattan (current low ball carrier) they can buy from someone else. I have only had one person tell me they were taking the lower rate and buying from someone else.
That did not bother me a bit. They would never be a client, only a policyholder until the next cheap trick came along.
Diabetics are possible unless they have complications. Mostly non-insulin dependent but (without looking it up) I think there are some that will take insulin users if less than 50 units a day.
Heart is a different animal.
Equitable has about the slickest phone app (and now e-app) of anyone I have seen. Unfortunately for me they don't have plan G in Georgia. If they did the would get a lot more business from me.
You can always call. You know how to reach me.
Truth.
I spend a lot of time educating T65 and almost as much time on 65+ especially when they have an MOO plan F.
I am guessing we have a very different type of prospect and client. Obviously, I provide my clients with extremely competitive products. That being said, my clients, most of whom were referred to me and are new to medicare, are very happy with the education, advice, and a level of professionalism that I provide. I am guessing that many here on this forum do not sell on price alone, but provide a service that their clients appreciate and value. If a client would leave me because another agent can save him $2/month, I don't want him as a client. Best thing is, we can all make a buck doing it our own way. My way works for me, and I know your way works for you.
