Getting Started in Supps

I've tried T65 in NY very good (I will do 25% MA though) NJ decent but not nearly as good as NY & NC terrible almost everyone is on state retirement plan, Tricare or Medicaid (even though I do 30 K income filter) Ive also tried 67-75 in NC and was better than T65 but still not great

I don't much about these things all the mailers I put out were organized by FMO's mostly one FMO and the mail house of there choosing, Maybe there are some tricks to do better IDK, But to me seems to come out to over $30 per lead and they are not quality leads,

there are always issues, trying to get one done now over a month she is not at home and wont be for 6 months, I am doing AARP sup and drug coverage, She messed up first Medsupp app and just got 2nd one done, She does not have Medicare card but thought it was S.S -A but it is not she supposedly called S.S. 5 times and Medicare 3 Times but cant get someone on the phone and cant make it local S.S. where she is at because it is 5 buses away

Ugg I just don't run into this on internet leads but to me seems typical with mailer leads

Overall I have made money on them but seems like a lot of work, I am not a fan
I have def heard it is not the best way to market for Med Supps out of state for phone sales, and I'm sure different states are harder than others. I know the CPA is kinda high as well. I have thought of trying the internet leads also, just haven't done it yet.

I think if you do DM t65 leads it's easier if you do them locally. I still send out DM and it's pretty easy. I called all my leads on Tuesday. Set 4 for yesterday and ran them. I'll call all of them today plus my new ones and hope to fill up tomorrow.

I have TM's calling med supps out of state but I would never try to cold call t65s out of state. Education is tough over the phone.
My original plan was to mail out the T65's locally and then I got some data from the DM vendor I want to use and the "Open Enrollment" mailer only pulled 2% on average in 2016. Other states were showing over 3% and sometimes up to almost 6% so that got me thinking of mailing into those states.

I'm in Las Vegas and I know there are many Uhc agents mailing out these personalized color T65 mailers so I just wonder what type of return I will get. I guess you never know until you start mailing.

When you mail the T65's, what income filter have you been using?
 
If your telemarketer and script are any good, they know why you are calling. No need to re-state the issue.

Jump right in and ask questions.

"Yesterday when you spoke with Susie you said you were interested in _________. How can I help?".

They want information, not a sales pitch. You can give them what they want or let someone else do it.

When I get a lead in (self generated internet) I know their name, address, DOB, gender and email address. Beyond that I have no idea if the phone/email is legit or fake.

Everyone get's a "warm up" email a day or two before I call. When I call they know exactly why and what to expect.

I only call once.

I track the emails to see if they are opened.

Bogus phone/email leads are tossed. If they don't want to talk to me I am not going to find ways to talk to them.

If they don't open my emails or return my phone call within 4 days I send them a "closing your file" email and I am done. Sometimes they come back to me. Sometimes not.

I don't have the time or desire to chase people.

If you jump into qualifying them from the start you will not make many sales. Give them what they want then you can get what you want.

If they are T65 they are looking for more than just rates most of the time. Quote them the lowest rate for the plan they want. Don't tell them the carrier, just give them the rate.

If they want more information you are in a position to barter.

If it looks like they are just going to waste your time or blow you off, go ahead and give them the carrier.

I rarely end up taking an app for the lowest rate. Most of the time the plan they buy from me is $5 - $10 above the lowest rate.

Everything is negotiable.

Either they sell you or you sell them.

And if you are not selling yourself then you are wasting your time. They can get a rate anywhere, and call the carrier direct and enroll.

Let them. Sometimes I even encourage that. That catches them off guard and most of the time they come back to me.

If you are not willing to blow off a few prospects that will end up putting $0 in your pocket then you are doing it wrong.

The TM needs to set up your call properly by telling them what to expect when you call. And they need to ask the prospect "What is your favorite color?".
 
Hey just curious what you guys spend a month on marketing. DM, internet, or Telemarketing? I'm just wondering what a standard marketing budget is for a solid producing agent? For example say for an agent consistently producing 20-30 apps a month, what do you think is monthly cost for leads?

I want to increase my marketing volume but I don't want to feel like I am spewing money either.
 
Not trying to thread jack here.... Just curious who you guys are using for TM or if you don't want to share that info could you point me in the direction or where to start looking for a TM?
 
I'm going to get my telemarketer calling tomorrow. What would be best for someone that has yet to even make one sale? I can either have her call t65, or call 67-69 year olds.
 
I'm going to get my telemarketer calling tomorrow. What would be best for someone that has yet to even make one sale? I can either have her call t65, or call 67-69 year olds.

You really think only 67-69 yr olds can qualify for insurance? Pretty narrow age range.

It would be best for someone who has never made ONE sale to learn to sell face to face.

Rick
 
You really think only 67-69 yr olds can qualify for insurance? Pretty narrow age range.

It would be best for someone who has never made ONE sale to learn to sell face to face.

Rick

Nope I just figured at the end of the day you have to pick something.
 
The problem with understanding Medicare comes from understanding how the Medicare billing process works since this will be your most common concern with clients both during and after the sale. You need to learn how Medicare works with providers and what regulations Medicare has on coverage. This the carriers won't teach you, you must learn this on your own. All the carriers will do is teach you about their company and how to underwrite their products. You need to have a good FMO/MGA to work with. They get a cut of your business and are their to train you when you have questions, but you have to take the time to learn about Medicare inside and out.

Next you need to get licensed with the top 2 or 3 carriers with each product type in the area you are selling. This can be an issue for some people with bad credit issues (many accounts in collection or outstanding court judgments) with many carriers. Then you need to learn the differences in underwriting amongst all the carriers you are licensed with so you know where you can place clients because some plans have looser underwriting guidelines than others do. Next you have to understand what Medicare Advantage is if you want to sell it or not and let me say this: you need to offer both Part C and Part D to your clients. The MA market is currently at 30% of eligible beneficiaries nationwide and is slowly growing. Seniors are on a very fixed income on the aggregate and it is wrong for healthy seniors to be on a Medicare Supplement who are struggling financially. Also you need to offer Part D. Yes it is low commission and a decent amount of work, but it is a service that further establishes trust with your client plus you don't want another agent to get in under you with Part D and also grab your health insurance client away from you.

Now that you have all this knowledge you need to learn how to cold call telemarket. If you buy leads, you will be most likely buying non-exclusive leads that have been handed out to 12 other agents before it was recycled to you. You don't want to hire a telemarketer to start, this is a job for you to do because of the sever regulations over this activity. You cannot telemarket Part C or Part D at all, but you can for Medicare supplements and then during your Medicare supplement pitch set an appointment for supplements. If during the appointment the client is better suited for Medicare Advantage you can get them to sign the Scope of Appointment form on your same visit. If you market supplements on the phone you must mail them out the Scope form first and get it back in the mail before you can call them again with marketing or selling a MA or PDP over the phone. Be warned you really want to stay away from selling Medicare Advantage over the phone as well due to the thin line you are walking regulation wise and due to the fact that you won't get many signed Scope forms back to you that you mail out and is a waste of money and time in most cases.

Finally comes your sales ability and closing technique to acquire clients. This topic has been discussed by thousands of people for ages so go find your favorite sales trainer. Then comes the real practice of doing all the above. Be careful with the regulations though as a sever slip up could cause your license to be suspended or terminated and you lose all your commissions and clients. This is not an industry for those with no knowledge of what they are doing.

Oh PS your commissions will most likely be between $12,000 to $25,000 your first year, so make sure you have some money saved or a part time job to help with your income the first year. A great part time job would be working as a telemarketer during the evening hours for another unrelated business since they will train you to be better at telemarketing and is great experience in seeing if you have what it takes to be a cold caller. Also make sure that old coverage is terminated by the client once new coverage starts. If you don't trust your client in doing so, take charge of having them sign a cancel letter and mail it once new coverage is approved for all underwritten cases.
 
Last edited:
Back
Top