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I am getting this product and I'm wondering what are some good opportunities to sell it. When you can't close an FE deal? Along with a med supp? Going back through your book?
Kemper HHC
- Thread starter smokin goose
- Start date
Give me a buz Smoke. That has been my Specialty since they came out with it. Too numerous to go over on a board. I will attempt to give the cliff notes version here.
1. HHC is an easy discussion product to seniors and best sold to those that have full SocSec + other income or savings to protect.
2. It is easily affordable, especially when you explain the RX reimbursement of $250/y ($300 in MI and MO). Basically in KY someone in their 60's pays about $430/yr. Less the RX reimbursement of $250. it is a net cost of $180/yr. The Rx pays in addition to any other Insurance or Medicare Part D since it is a true indemnity plan.
3. Stay away from selling the Additional benefits. Not worth the cost. The Physical or the vision/hearing do not pay if there is any other claim paid in previous 12 months on the policy. Including the HHC and Rx Base benefit. So the RX benefit is $250 where as the most you get out of the additional benefit is about $150 for a physical. Do the math, the client pays more and gets less in claims.
To view the .MP4 vid that is available to agents to use in selling. Go to: KemperHHC.com
Lastly, it is easy to explain and sell in groups. I once sold 27 in 1 day to a seniors that came by their club house in a gated senior community, I was set up with a booth. Don't be shy about how the Obama Care screwups has created opportunity to talk with people.
I could keep going on opportunity sales, but my fingers are already tired,,,,
Again call me and I can go over it in more detail.
Great Info
I did not know that the Rx would not pay when additional benefits are paid
I just added this product to my products, and that is very helpful info
Thank you
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They can use the prescription drug benefit whether they are using the other HHC benefits yet, right? How do they get reimbursed for their meds? I've sold a couple, but would like to sell more for sure.
Here's some issues I have with it:
1. You receive up to $150 daily benefit but they divide and limit it between 9 different areas of benefits.
For example you can only go up to a:
$75 max for Skilled Nursing Care. (RN)
$60 max for General Nursing Care. (LPN or LVN)
2. As I understand, Home Health Care is not subject to the 3 day impatient hospital stay rule. If your PCP thinks you need it, it's usually approved by Medicare. Wouldn't this be a duplication of benefits?
3. I've heard about numerous agent complaints with this product. I know of one FMO that decided this year to no longer sell it because of the complaints.
I can get over the first two issues, because it is a very affordable product that will provide some benefit, over and above what Medicare will pay.
But I will need to be convinced they fixed the agent experience issues before I feel comfortable marketing this product.
1. You receive up to $150 daily benefit but they divide and limit it between 9 different areas of benefits.
For example you can only go up to a:
$75 max for Skilled Nursing Care. (RN)
$60 max for General Nursing Care. (LPN or LVN)
2. As I understand, Home Health Care is not subject to the 3 day impatient hospital stay rule. If your PCP thinks you need it, it's usually approved by Medicare. Wouldn't this be a duplication of benefits?
3. I've heard about numerous agent complaints with this product. I know of one FMO that decided this year to no longer sell it because of the complaints.
I can get over the first two issues, because it is a very affordable product that will provide some benefit, over and above what Medicare will pay.
But I will need to be convinced they fixed the agent experience issues before I feel comfortable marketing this product.
As far as I understand and have been told (keep in mind I am new to this but I have asked many questions)
it does not matter that it is duplicate benifits because It is an indemnity and pays direct to client
So client can use money for other things like paying for over night stays someone to help with other things not cover by medicare
Like visiting angels and such
Yes there is a break down of benefits but there also is an top pay out of $150 per day
I have not much got to sell this yet
I am interested in hearing what agent or client issues there has been
and what I might not be seeing negative about this yet
Keep in mind, it wont do them any good if they have to go into a nursing care facility, so I would start with STC first then offer HHC as a last ditch effort. That way you cover your a$$.
Also, what's been working for me is to go over the costs of LTC first. That way the premiums for STC pales in comparison, and especially for HHC.
Also, what's been working for me is to go over the costs of LTC first. That way the premiums for STC pales in comparison, and especially for HHC.
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The biggest advantage that we feel that the Kemper HHC brings to the table is the ease of underwriting. It's as simplified issue as a policy like this can get. Is the client currently receiving HHC? Can the client complete their ADL's? If they can pass those questions, they're approved.
Not disagreeing that other coverage maybe be of more benefit. But in cases where a client would have trouble passing underwriting, or can't afford the cost of coverage with a STC or LTC product, this gives the client SOME coverage that they can and most likely will utilize at some point in their life.
Oh, and for the agent, a solid commissioned product with lifetime renewals is never a bad product to be picking up sales for!
