How Much Can One Make Per Year Selling Med Supps?

I started selling medsupps in mid October one year. I didn't know that the company I was focused on also had a cruise offered for 50 heads by 12/31 of that year. I more than qualified with 72 new clients. Mind you... I didn't know what I know now. I was price and price only. It was intensity and determination that made the difference. I qualified with that company, but that was not the only company I was writing for so I'd guess that I easily wrote 90-100 clients in that window.
 
My educated guess is this is probably pretty close. At average annual revenue of $281 per ($135/mo - 18% fyc), if a newbie did one hundred the first year, they would gross $28,100.

I don't believe 250-260 apps in the first year is a number too many (if any) are going to accomplish.

Unless the entire first year was advanced, they would have to do 100 in the first month to gross $28,100.

Rick
 
Didn't want to?:skeptical:

Half of the people that live within 40 miles of me are...(1)on Tricare...(2)on Federal BC/BS....(3)on state BC/BS...(4)on Medicaid.

Yeah...that's an excuse, but it's the truth. Plus this isn't exactly a rich area.

If you're making six-figure money..congrats to you.

I know how hard that is. I live 2 miles from Dover Air Force Base and 40 miles from DC, Baltimore, and Philly. Tricare, Federal, Medicaid, Medicare Advantage and state health plans are more concentrated here than anywhere in the country. I have expanding my territory to get the Medigap demographics I need. I am convinced it can be done anywhere in the country.
 
I know how hard that is. I live 2 miles from Dover Air Force Base and 40 miles from DC, Baltimore, and Philly. Tricare, Federal, Medicaid, Medicare Advantage and state health plans are more concentrated here than anywhere in the country. I have expanding my territory to get the Medigap demographics I need. I am convinced it can be done anywhere in the country.

I don't cold-door knock. Mine is strictly cold-calling T65's. Lists I've gotten are within 40 miles of my office.

What I need to do is expand my lists...both age wise and distance wise. Especially with what's fixing to happen to the MA market.
 
My bad for assuming that people both read what is posted and understand what they read.

I did not say that a first year agent is going to make $75,000 selling Med Supps.

This is exactly what I said, "a very realistic goal for an experienced agent who is going on appointments."

Can all of you see it and is there anyone who doesn't understand what it says? My phone number is shown below. For those who don't understand please feel free to give me a call for further explanation.

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I don't cold-door knock. Mine is strictly cold-calling T65's. Lists I've gotten are within 40 miles of my office.

What I need to do is expand my lists...both age wise and distance wise. Especially with what's fixing to happen to the MA market.

Russ,

I have always sold Med Supps in the state of Missouri. If I currently limited my area to within 40 miles of where I live I would be lucky to sell a policy a month. I now also sell in other states.

My primary focus is still Missouri simply because not every senior in Missouri has a policy with me. When that happens (tongue in cheek) then I will begin concentrating on other states. (I don't think Gordon or the other Missouri agents will let that happen. :D)

I would also expand your prospecting way beyond 40 miles. Take a shot at contacting people other than those T65. They are much easier to sell to and you will make a lot more in commission because when you save them money you make more money selling to those who are older than 65.

There are very logical reasons for what I do and how and why I do it.
 
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YODA, I am now positive you have some type of psychological problem. I don't know if you are just plain unhappy with yourself, very insecure, a major a-hole, or a mixture of all of those.

You are an ignorant ***. Frank has helped me from beginning to now, and my 1st week I sold 4 policies, while still in college full time. I would say it is more than possible for someone to make $75,000 their first year selling med supps. Of course most people do not have the drive that it takes. (I feel I do).

The reason you probably get so mad when someone says you can make $75,000, is bacause you don't even make that. You probably sit behind your desk and play with yourself all day, while making negative comments on this forum...

Here is your two options...

1) Be positive, and give nice, calm advice.

OR

2) Get the hell off this forum.
 
Frank, although you did state that you were going to show an example of an experienced agent, the sample you followed with was that of a new agent...

I posted in a thread an example of a very realistic goal for an experienced agent who is going on appointments.

Let's assume the average Med Supp premium is $135 per month and the agent's average commission is 18%. I think that is fair to use as a national average.

If an agent will write one app a day, 5 days a week, 52 weeks a year, a total of 260 applications a year. (There is no logical reason why all should not be issued if sold properly.) That will come to $75,816 in first year earned commission.

If an agent has sold himself in the process and stays in contact with his new client then there is no logical reason why that agent should not carry at least 90% of that forward into the second year in renewals, $68,234.

In essence, the agent will start the second year with renewals, almost like a salary, of $68,000. Then once again write one app a day. After three or four years I think you can see that the agent will be making a pretty good income from just Med Supp sales not counting the ease with which agents can add a small FE policy after completing the Med Supp sale.

Can an agent do that? Absolutely yes! Can a brand new agent to Med Supps write an average of one app per day? It's up to the agent and how hard he wants to work and how dedicated he is. The "average" agent will probably write around three apps per week when first starting.

So quit yelling at us!
:twitchy:
 
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