Common Telemarketing Objections for Med Supps
- Thread starter Justin Bilyj
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- #43
I just started supps over the phone, I have one tm now (American) and I am interviewing for another. I am splitting their time up 10:30-2:30, and 2:30-6:30. I get my workers from 3 sites (and they are all free to use):
Freelancer
Odesk
Elance
I have a ton of applicants that I can send a few along if anyone is looking to hire. Reasonable rates $8 an hour...
Freelancer
Odesk
Elance
I have a ton of applicants that I can send a few along if anyone is looking to hire. Reasonable rates $8 an hour...
When I sold Med-sups I would always let the prospect know that they can do two things with their money.
1. They could give it to a giant insurance company, who will not think twice when it comes time to raise their rate or
2. They could put in their own pocket and enjoy a nice lunch each month. Because at the end of the month it's nice to have that extra little something.
Most folks have trouble with percentages and fractions. That's why I use real dollars and quote annual savings.
When I encounter someone with plan F, which is usually the case, I first give them a savings on my F vs theirs.
$515 usually get's their attention.
Spoke to a lady this AM that had F and was paying $140 a month. She had just switched a few months ago from Blue at $170 to Manhattan.
Best I could do is match the Manhattan rate and use a carrier with a proven track record in Medigap. Plan G saved $204 a year, not enough to grab her, but $516 savings on plan N piqued her interest.
I saw no reason to push for a decision so I asked if I could send her information to review. She had already given me permission to call her back in October when she normally shops coverage.
I will follow up in a few days. If she doesn't buy plan N then she will buy something in October.
When I encounter someone with plan F, which is usually the case, I first give them a savings on my F vs theirs.
$515 usually get's their attention.
Spoke to a lady this AM that had F and was paying $140 a month. She had just switched a few months ago from Blue at $170 to Manhattan.
Best I could do is match the Manhattan rate and use a carrier with a proven track record in Medigap. Plan G saved $204 a year, not enough to grab her, but $516 savings on plan N piqued her interest.
I saw no reason to push for a decision so I asked if I could send her information to review. She had already given me permission to call her back in October when she normally shops coverage.
I will follow up in a few days. If she doesn't buy plan N then she will buy something in October.
Please send me the info if you would. [email protected]. Thanks.
- 135
Yeah, you're right, "full of crap".
Twice yesterday and once today..just like this:
Medicare Supplement Quote Service - YouTube
Clip from actual sale via screenshare 3/19/14
75%, at least, of the people we talk to have access to a computer these days.
That is probably due to the demographic, based on income, that we are calling into. And, this is the growing trend of the future.
According to one recent study, 53% of people over 65 are now using the internet, and I bet you all of those are in my target demographic.
But seniors are catching up: computer use is growing fastest in the over-65 population. And as the baby boomers age, the digital divide between younger and older Americans will continue to close. Seniors are using email, playing computer games and surfing the web in rapidly increasing numbers.-CaringNews.com
As to the objection, "We're fine, we already have a plan."
My answer is, "Mr. Jones, that's exactly why we are calling. Rates here in Johnson county have been going up dramatically with the big three companies (list them), and our independent brokerage service shops the market with today's BETTER rates. All of the plans are the same, it's the law, and we just want you to have the free information, if you have experienced these rate increases."
Like Socal401 said, it works.
You can either enjoy the technology of the future, and embrace it to build your business faster and easier, or you can continue to call it bullcrap. Either way, doesn't matter to me.
No, I just have a way that works better for me and my agents.
Christopher. You are indicating that on a cold call you can keep the prospect on the phone and get them on their computer in order to do a presentation? Out of 100 calls, how many presentations like this do you give?
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My intro is simple:
Hello, my name is Bob. I'm calling you today because I'm helping people save hundreds of dollars on their medicare insurance and get better coverage. Would you rather save money, get better coverage or both?
I'm making a value proposition and hopefully getting their attention long enough to start a conversation. I always ask open-end questions.
- 1,310
100 out of 100. I only speak with those that my assistant puts on my calendar.
They know the rates, they know the questions on the application, and they know what plan they should be buying. They're only on with me to write their application. I don't cold call anymore... so I don't have those stats today.
See this post for details. Click here
jvancleve
Expert
Ohio definitely handcuffs agents; rules for marketing med supps basically the same as MA - no cold calling allowed. However I hear from T65s all the time that they get many unsolicited calls selling Med Supps; often from agents out of state. Against the law for them too - not sure whether its ignorance of the rules or they think they will never get caught. Not worth potentially losing your license IMO; you can cold call in OH, but its wise to call on something other than Medicare products.
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Those kinds of savings are not the norm. I don't subscribe to the universal approach of some agents of selling the "lowest rate" today. It oversimplifies the pricing aspect of the Medicare supplement sale. Just to give one example, an agent I spoke with exclusively sells ABC carrier because they have the lowest T65 Plan F rate in his zips. But ABC carrier had 6+% age related increases alone each year beginning at age 66. XYZ carrier was initially 5% higher on their Plan F, but had no age related increases until age 69. In all probability, XYZ carrier would have saved the client considerably over that 4 year time period. Doing what is best for the client often goes beyond the concept of saving them some money on their premium today. I always wonder if the agents who just sell the "lowest rate" today are constantly churning their book, because it seems each year some carrier will enter with a lower rate. This just does not seem to be a good use of an agent's time, or what is necessarily best for the client over time.
