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You really don't need to know squat about Medicare if you sell plan F. Besides, the more premium the insured pays, the higher the agent commission.
No Wonder Our Seniors Are Confused . . .
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You really don't need to know squat about Medicare if you sell plan F. Besides, the more premium the insured pays, the higher the agent commission.
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Love Plan F. My Momma and Father In Law - Love Plan F . . . No Worries!
Has nothing to do with commission. I would actually make more with lifetime renewals on MA's vs 6 to 10 year renewals on Med Sup . . .
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To be clear - I am not the AOR on either policies. When they both got their policies - I wasn't marketing Sups. I referred them to fellow agents that were.
So - I made $0 Commission - just so you know . . .
You studied them over the last week? Our apologies then. You obviously completely understand the biz then.
Look, all we are pointing out is if you want to be an order taker and offer the easy sell of plan F. Go right ahead. But don't be mad when your plan F's start falling off the books because a smart agent shows the client that the G is a better buy in your area.
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Well Tom, we tried to teach you to do what's right for clients years ago. We failed then. You failed also.
Fortunately for us we can re-write your clients both helping them (vs what you're doing) and picking up an easy commission. Unfortunately, we won't meet all your clients.
Clearly you don't understand insurance but once again are selling yourself to new agents. I predicted you would fail previously. I have no reason to think differently.
I'll make you an offer you'd be an *** to refuse. Call me and I'll try to teach you how to actually help your prospects.
Rick
Fortunately for us we can re-write your clients both helping them (vs what you're doing) and picking up an easy commission. Unfortunately, we won't meet all your clients.
Clearly you don't understand insurance but once again are selling yourself to new agents. I predicted you would fail previously. I have no reason to think differently.
I'll make you an offer you'd be an *** to refuse. Call me and I'll try to teach you how to actually help your prospects.
Rick
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So this guy comes on here and says how glad he is that his mom had good coverage, and the first thing guys do is try and say he doesn't know what he's doing because she could have saved money on plan G? Yes, plan G is cheaper etc. but who cares with this situation, she had a good plan that wasn't an advantage plan! And plan F vs G doesn't take an "advisor" to figure out lol.
I hope your mom is doing better since her health setback..
The problem isn't necessarily that his mother is on a Plan F. It's the fact that he won't even entertain showing a Plan G, even though it's usually a better deal for the client. If the client is educated on the difference they will go with Plan G most of the time. He's not educating them on it and makes a blanket statement that most of his clients don't want to fool with having to pay the part B deductible and would rather pay $30 or so more per month just to have a plan F.
Now I like ol' Tom, but in this case he is just wreaking of inexperience and lack of knowledge.
Tom, in this case you really should take the offer to call Rick and get an education. I know you're not really in the Med Supp/Med Advantage business, but if you're going to give advice about it you really should understand it.
Selling Plan F over G almost makes zero sense. The only situations I can ever see it going over well is when the client has so much money they can't bear the thought of getting their wallet out at the doctors office. Otherwise, why anyone would steer someone into F over a G makes zero sense to me. I think you're doing a disservice to your client.
Plan G saves the customer money over Plan F 100 out of 100 times. Not to mention we're seeing rate increases for F outpace those of G. So that $115 Plan F you sold someone a few years ago is now $190 per month (where a Plan G might still be $150) but now they are "land locked" because of serious health issues. That's not a good service to your client.
Do I have Plan F's on the books, yep. But every single client has been given the same explanation. "Are you willing to pay more premium in order for them to pay the $166 deductible? Keep in mind, this premium is going to increase and so the lower the initial premium the longer it takes to reach that painful threshold of when it's no longer affordable".
Most of the time when I explain to the client and do the math for them, they look at me with the most confused look on their face, "Uhhh....so why would anyone choose a Plan F?"
I just wrote a 72 year old yesterday who's on a Plan F right now for $175 per month. Just moved her to Plan G for $116. $708 savings in premium a year, minus Part B deductible = $542 per year.
Plan G saves the customer money over Plan F 100 out of 100 times. Not to mention we're seeing rate increases for F outpace those of G. So that $115 Plan F you sold someone a few years ago is now $190 per month (where a Plan G might still be $150) but now they are "land locked" because of serious health issues. That's not a good service to your client.
Do I have Plan F's on the books, yep. But every single client has been given the same explanation. "Are you willing to pay more premium in order for them to pay the $166 deductible? Keep in mind, this premium is going to increase and so the lower the initial premium the longer it takes to reach that painful threshold of when it's no longer affordable".
Most of the time when I explain to the client and do the math for them, they look at me with the most confused look on their face, "Uhhh....so why would anyone choose a Plan F?"
I just wrote a 72 year old yesterday who's on a Plan F right now for $175 per month. Just moved her to Plan G for $116. $708 savings in premium a year, minus Part B deductible = $542 per year.
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I agree with your post...except for the part I've bolded, which isn't accurate.
In my state anyway...Bankers Fidelity Life's Plan F is less than their Plan G. There are probably others. Also, it seems like I've read that F is less than G in Florida...correct me if I'm wrong(wouldn't be the 1st time...lol).
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Plan F in Florida vs. G is extremely close in premium most of the time. There is a much bigger gap in most other states.
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