Beginner Plan for Med Supps?

Jan 23, 2016

  1. Roy2015
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    Roy2015 Super Genius

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    Hi guys...After some time of consideration I have decided that I want to put all my focus on selling Medicare plans. The large residual income possibility is very enticing to me, and considering where I live I just think that this is a better fit for me. I have a decent savings so I can afford to make it thru the first 1-2 years while i grow my book of business.

    I was wondering what some of you veterans would do if you were just now starting out in the business selling supps and MAPD?

    What is a street level contract for Med supps?

    What would be your marketing plan?

    What would be your weekly work schedule?

    And what would be your goals for the first year.

    I am new to the game, however I do have a few years experience selling FE over the phone with moderate success.

    From what I understand... DM, telemarketing, and buying t65 lists is the 3 main forms of marketing for prospects. Which would you start with if you were just starting out in the business?

    I'm wondering what the best coarse of action to take would be to get the ball rolling. Any response is greatly appreciated. Thanks in advance!
     
    Roy2015, Jan 23, 2016
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  2. vic120
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    vic120 Guru

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    You mentioned some success selling FE over the phone, What type of leads did you work?

    If I were just starting today, I would invest in teli leads and DM to sell over the phone.When I had a residual and some experience then I would move on to internet leads
     
    vic120, Jan 23, 2016
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  3. nolaagent
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    nolaagent Expert

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  4. Glen Shelton
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    Glen Shelton Guru

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  5. hockeyday
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    hockeyday Guru

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    Why limit yourself to med sups? if your going to market you will run into med advantage people, if your buying TM so called med sup leads half will be advantage people, people don't know the difference, if your marketing to just t65 most are going to do something why walk away from biz... are you selling face to face or over on the phone?
     
  6. sshafran
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    sshafran Guru

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    If I were to start over, I would go bigger faster. Slow and steady is not the way to start a med supp business (which is what I did...big regret).

    Depends on the carrier.

    To be everywhere. To hit the "leads" from multiple angles, multiple times.

    Work until you make it. You can't pre-determine your schedule at this point. You need to focus on building the client base...and quickly.

    All of them. Seriously, all of them.

     
    sshafran, Jan 23, 2016
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  7. vic120
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    vic120 Guru

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    This would be a wise move, The quote engine alone is worth the price of admission,

    Also when I signed up having been in this buis for 2 years I was very surprised how much this site has helped me. Especially being able to see side by side all the carriers medical questions by the click of the mouse
     
    vic120, Jan 23, 2016
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  8. JimmyUt
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    JimmyUt Guru

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    CSG is awesome and the site does have some good info.
     
    JimmyUt, Jan 23, 2016
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  9. Roy2015
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    Roy2015 Super Genius

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    Thanks everyone for your replies. Your willingness to help is greatly appreciated

    I was contracted with Lincoln Heritage and Senior Life Ins. I was working mostly T.V. leads and occasionally I would get an order of DM leads. The T.V. leads were good but they were expensive ($42). So I could only get maybe 10-15 new leads weekly. The DM leads were not very good and still expensive ($36) as they were aged and some believe they were resold to different agents. Ultimately this was the reason I got out of the business for a while. I just did not have a reliable and affordable lead program at the time.

    I see what u mean. That makes a lot of sense that you will run into both. I had just heard some say that is is best to just concentrate on one or the other. But really like you say, it makes more sense to offer both. Why walk away from business? I have experience selling FE over the phone so I would like to eventually just do that. But I will sell F2F also to start building my book faster if it will help me.

    I would like to start fast. Honestly, I would like to jump right in full throttle. I know there is a learning curve tho. But what exactly do you mean by bigger and faster? When you say bigger and faster...you mean with your marketing budget as bigger and more presentations as faster?

    I actually have a nice sized marketing budget so I dont really see a reason for me to take the slow and steady approach.
     
    Roy2015, Jan 24, 2016
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  10. somarco
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    somarco GA Medicare Expert

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    The rules and regulations for Medicare sales are more forgiving for Medigap sales than MA.
     
    somarco, Jan 24, 2016
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