Any where to learn Group Health Insurance 101?

Discussion in 'Employee Benefits Forum' started by Phil C., Aug 8, 2008.

  1. Phil C.
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    Phil C. New Member

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    I am interested in learning more about selling Group Health Insurance. I currently have been selling term life for the last 3 years(2 years for a brokerage and 1 independent) and feel very comfortable that I know how it works. I am licensed in health insurance but have never actually sold any health policies and know nothing about it but would like to learn more. Is there any where you can learn more about both group and individual health insurance? I am located in Illinois so im not sure what GA's I can go through or what companies I can offer.
     
  2. LGilmore
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    LGilmore Guru

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    Why don't you start with online classes for your continuing education? You learn the basics and at the same time gain license renewal credits.

    Also attend some carrier roadshows where they promote their product lines.
     
  3. arnguy
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    arnguy Guru

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    I believe that Moonlight & Margaritas (Paul) will be completing his e-book on health insurance sales soon. The rumor is it will cost only $2,500. That's 50% less than what The Pajama Man charges!:swoon:
     
  4. somarco
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    somarco That Medicare Guy

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    Paul is having a close out special on the following titles.

    "How to sell $1,000,000 per day in Zero Premium Life"

    "My life as a mole at the NAA convention"

    "Secrets of the Bathrobe Man"

    "Doorhangers for Dummies"

    "How to score a 6 figure income by offering fake telemarketed leads"

    Check his website for details.

    The Margarita Man Margarita Machine Rentals
     
  5. ABC
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    ABC Guru

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    I think this is sound advice.

    I would add to this is meet with the sales reps of the carriers that are competitive in the group market. They should be able to give you a crash course on there products and how to submit a case. Explain to them that you will be able to generate a lot of buisness for them since you have formed a lot of contacts through Life insurance sales.


    I was selling in Illinois both Indiviudal and small group health.
    There are state mandates that you have to know about. Example is Illinois fertility treatmeant is covered as any other illness. This is important to know when your selling.
     
  6. Executive Benefits
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    I would HIGHLY recommend a GA!! They will make sure your group is in compliance, do your admin work, and often times come out and do enrollments with you. Good way to start learning the business with a FREE mentor that wan'ts to close the sale as bad as you do. I couldn't imagine not using one, unless you want to hire a full time assistant. I use Benefitmall and have heard good things aobut Rogers Benefit and Excelsior.

    Good Luck!!
     
  7. Phil C.
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    Phil C. New Member

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    Thanks for you input guys. Im trying to find a GA to work with here in Illinois. I would like to do both group and individual health. I have LOTS of business contacts who I have placed life insurance through that have been asking me for health insurance quotes for both individual and group but haven't been able to help them.
     
  8. LGilmore
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    LGilmore Guru

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    One thing be aware usually with health if you're working through a GA, they own the business. It is not necessary in most cases to have to aline yourself to any GA for health sales individual or group...

    Keep in mind nobody does that stuff for free (enrollment, paperwork etc..).

    If you are the lead and have prospects that want to work with you...take their census infomation and contact multiple carriers and get quotes and look em over yourself. If you have no idea what matters use the internet to educate yourself. Also talk to the company reps about their products.

    The big thing is READ the materials. IF you find something you don't understand ASK and educate yourself.

    What ever you do DON'T bring an carrier rep in with you to meet the client... it is the kiss of death down the road. Every rep will ask to accompany you..learn to say no.

    In hindsight I have lost several accounts within 6 months of bringing the rep in ( I used to have trouble saying no.) because the minute I do that I stop being their broker and become the bluecross guy.... In otherwords I lose my impartial party as viewed by the business owner. Be aware. That mistake has cost me alot of money over the years.
     
  9. ABC
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    I 100% agree about not bringing the carrier rep with you to meet the client.

    Most of the carrier reps are nice people but they are not the best sales people if they were then they would be brokers/agents in the field generating. Just my .02
     
  10. xrac
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    xrac Guru

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    In my opinion the book below is a must read for any business owner (which we all are if we are not captive) is also a very valuable resource for anyone selling Health Insurance. Although it is not geared to group coverage it gives much insight into the pros and cons.

    The New Health Insurance Solution: How to Get Cheaper, Better Coverage Without a Traditional Employer Plan, by Paul Pilzer
     

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