Medicare Supplemental Memory Lane

[DS4]

I had reason today to visit my mini storage. While digging for what I needed, I found some of my old sales brochures.
Prior to 1980, I sold almost 100% life.
I sold my first Medicare supplement in 1980.
Attached is the sales brochure.
The cost of this med supp was $100.35/quarter. Same cost for all ages.
After the $100 deductible, both the Part A & B deductibles were paid. Plus the 20% under Part B. And, prescriptions were covered at 50%!
The commission was a one time "finders fee" of $75.

 

[TDFnCali]

I had reason today to visit my mini storage. While digging for what I needed, I found some of my old sales brochures.
Prior to 1980, I sold almost 100% life.
I sold my first Medicare supplement in 1980.
Attached is the sales brochure.
The cost of this med supp was $100.35/quarter. Same cost for all ages.
After the $100 deductible, both the Part A & B deductibles were paid. Plus the 20% under Part B. And, prescriptions were covered at 50%!
The commission was a one time "finders fee" of $75.

My question is....renewals are the draw in Medicare (at least for me), so what made you want to sell a plan for a ONE TIME $75 commission over life insurance?

 

[DS4]

My primary focus back then was life sales. I just started marketing this med supp product for a little extra money.
There was no underwriting on this Coronet Senior med supp. GI.

 

[goillini52]

I had reason today to visit my mini storage. While digging for what I needed, I found some of my old sales brochures.
Prior to 1980, I sold almost 100% life.
I sold my first Medicare supplement in 1980.
Attached is the sales brochure.
The cost of this med supp was $100.35/quarter. Same cost for all ages.
After the $100 deductible, both the Part A & B deductibles were paid. Plus the 20% under Part B. And, prescriptions were covered at 50%!
The commission was a one time "finders fee" of $75.

Nice policy. It mentioned that it covers iron lungs. I remember going door to door selling in the early 70's and going in a house and seeing a guy in an iron lung. Freaky.

That $75 fee figures out to 19%, but no renewals. I can remember getting 40% FYC with 10% lifetime renewals. Those copays were low back then.

 

[TDFnCali]

Nice policy. It mentioned that it covers iron lungs. I remember going door to door selling in the early 70's and going in a house and seeing a guy in an iron lung. Freaky.

That $75 fee figures out to 19%, but no renewals. I can remember getting 40% FYC with 10% lifetime renewals. Those copays were low back then.

Early 70s?? How old are you ppl?? I started K in 75!!

 

[goillini52]

Early 70s?? How old are you ppl?? I started K in 75!!

Hahaha, I started selling Med Supps when I was 20. Next year I'll sell myself one.

 

[TDFnCali]

Hahaha, I started selling Med Supps when I was 20. Next year I'll sell myself one.

I can get u a better price!!

 

[goillini52]

I can get u a better price!!

I doubt it...especially when you figure in the commissions...and I'll have a better looking agent.

 

[senior-advisor-indiana]

My question is....renewals are the draw in Medicare (at least for me), so what made you want to sell a plan for a ONE TIME $75 commission over life insurance?

$75 could buy you a private jet in the 80's...

 

[somarco]

I started selling Med Supps when I was 20. Next year I'll sell myself one.

Why not sell yourself a $0 premium MA with a cancer plan, hospital indemnity, etc?

You will make a lot more money that way.