Offering High Priced Med Supp Plans

Having dabbled in Med Supps for the last few years, mainly "ageing in", but now am doing a little extra. Not because I'm changing, but just because it's the season.

I've come across clients that have taken plans that have well above average premiums. How are these being sold? It's good for the agent, but how do you "sell" someone on an F plan with carrier A for $143 when carrier B has the same plan for $91.

These people are being swamped with info, so what are these agents doing to get them to accept their high priced plans?
 
They don't look at that info, they don't understand it, they don't trust it, etc. I've ran into people on Plan F's recently paying over $400/mo each. They never looked at anything else. I got them to listen to me and I sold them two plan F's for $100/mo less than they were paying for one. They recently had a rate increase and I called giving them options to reduce premiums.

"We're still less than half what you found us at last year... leave it alone."

I left it alone.

ps. this is a state that gives GI to everyone with a medsupp.
 
I travel past a Chevron, two BP's and a Shell Station to go to Quick Trip to get gas.

I love Quick Trip, and feel very comfortable getting gas there. Their bathrooms are always clean. The help is articulate, helpful, and can multitask. Their lot is well lit, and they welcome me on the intercom when I drive up. I pay $2.68 per gallon. I couldn't tell you what the competition sells gas for, and I don't care.

The answer you seek is in the statements above.
 
I travel past a Chevron, two BP's and a Shell Station to go to Quick Trip to get gas.

I love Quick Trip, and feel very comfortable getting gas there. Their bathrooms are always clean. The help is articulate, helpful, and can multitask. Their lot is well lit, and they welcome me on the intercom when I drive up. I pay $2.68 per gallon. I couldn't tell you what the competition sells gas for, and I don't care.

The answer you seek is in the statements above.


We dont sell insurance, we sell ourselves...and you are buying quick trip and not the gas..

you are wise...
 
Really, I understand the convenience thing and all of that, but just don't see how they are selling consistently selling these plans at the higher rates in volume.

Even the clients that I have ageing in, that are most appreciative of any assistance that I give(not the bitter old bastards), are checking prices to keep me honest.

If I knew how this was being done, I could do it as well. I have several high priced med supp carriers, but don't know what to do with them.
 
Really, I understand the convenience thing and all of that, but just don't see how they are selling consistently selling these plans at the higher rates in volume.

Even the clients that I have ageing in, that are most appreciative of any assistance that I give(not the bitter old bastards), are checking prices to keep me honest.

If I knew how this was being done, I could do it as well. I have several high priced med supp carriers, but don't know what to do with them.

My guess, would be the same way Mega agents sold their crap plans.

Belly 2 Belly sales.
 
Plan F for $400 each? What state?
I've seen $280 for F but never anything over $300.

Washington National (Conseco) in Missouri. Old plans probably ten years old. They just never shopped it.

I've ran into Standard Life plans sold recently at unbelievable premiums. Must the the slick talker agent doing his job for higher commissoins. Dunno? I love those guys though. Easy pickens when I find that client.
 
I would say the plan Bill is talking about is entry age premium based. You enter at a higher premium, but your rate increase only as the plan increase. With others, you get hit in plan increase and age increase. Entry age says if you enrolled 8 years ago with XYZ carrier at 65 and you are 73 now, you are still paying what a new 65 year old would pay if they were to sign up today.
 
Back
Top