SMS vs Penn Solutions

[ROGCHAP57]

just wanted to get some feedback on Senior Marketing Specialists. I'm waiting on a call back from Ryan, checked out the website and really looks like they have alot of companies to work with. My biggest question is what kinda training do they offer, I'm new to the Senior Market and just wanted to make sure there's some support there. I've talked with Penn Life Senior Solutions and it sounds like there's some good training but it doesn't look like they have alot of products. Any feedback would be greatly appreciated.
thanks
Roger

 

[patch36]

I've been with both. You will be captive with Penn and you will be limited to their products only in life, annuities, med advantage and sups.

SMS is a Marketing group and you are not exclusive or captive. By far the better choice in my opinion. If you need training then you may want to consider Senior Solutions, but you will be selling what you have and not necessarily what is best for the customers. They are part of the same company as Pyramid and that is what you will only have to sell for a Med Advantage plan and it is a PFFS. I have had some serious communication and customer service problems with Pyramid but almost none with any of the other MA carriers.

To me it comes down to whether you need the support and training. You would be a very ineffective independent if you don't know anything, but SS is very limiting in product lines, from my perspective.

 

[patch36]

BTW, I am still with SMS for a couple Med Sups, but I also use several other Marketing groups. You have that freedom to choose with a non captive Marketing Group. I have no idea how their agent support is because I never need it. I deal directly with the insurance companies.

 

[ROGCHAP57]

Hey Patch
Thanks for the info, just from what I've been able to put together SMS definitely sounded like the better option, my dilemma is I really need the training as I've been selling P&C for the last year and really have no clue what I'm doin in the Senior Market. The idea that with Penn I wouldn't be selling the best of products really steers me away but the idea of the training keeps me hanging around. Just kinda weighing my options right now, just had knee surgery so I'm not gonna be doin anything right away, just trying to find the right fit. Ramiz offered to lend me a hand and as soon as I get up and goin I am going to give him a call, if you know of anyone else please send them my way.
thanks
Roger

 

[patch36]

you will learn a lot in a short time. You have a good year of experience and all the MA carriers require some type of certification and training, which is exactly what you will get with Penn, then turned loose on the market to learn as you earn.

Its not that complicated. Just google and read a lot. Learn Medicare. Read Medicare and You 2008 and get charts that show plan comparisons. One of the problems you will run into with Med Advantage plans is they differ from State to State and even County to County, so learn your specific plans, and one of the best ways is to compare the plans and benefits, and learn what the benefits actually mean.

Med Sups are standardized and most of us sell Plan F. It can depend on the carrier of course, and rates vary State to State and even Zip to Zip. SMS had good rate comparison charts for these specific to your state.

Medicare plans open the door to building relationships and sales opportunities for all the other appropriate products.

The hardest part is the same as with any line of insurance. Finding prospects to get in front of.

 

[senior-advisor-indiana]

SMS also has a captive side. SO you could get training and leads from that place.

 

[seadevil]

Roger,

Did you ever get the emails I sent you concerning my interview with SS? Never heard back from you to see what they told you.

 

[ROGCHAP57]

Hey Sea
I sent you an email back, sounds like a different situation then what they was giving you. No seminars on this end just alot of calling the 65 list and things along that line. Really haven't made the decision yet, trying to decide if training is more important then the product. Sounds like SS has some pretty good training but their products are lacking and the commissions aren't that hot. Honestly right now the money isn't the issue, it's being able to offer good products to the customer and get some training under my belt. So are you going with Physicians? Well let me know what you decide and I'll drop you a line when I can figure out what I'm gonna do.
Later
Roger

 

[senior-advisor-indiana]

I had no regrets starting with SS. They were competitve back then though.