Considering selling Medicare part time, please advise

[Spin]

Hello, years ago I joined this forum and planned to sell FE, my life situation changed and was unable to.

I am now considering getting back into insurance sales, however I work full time M-F and can't work on anything else during those days, except Friday evenings.

I have experience cold calling, both literally and door to door, and hate them both. I also have experience with direct mail and much prefer that way of prospecting.

What I'm thinking is I'd set up a direct mail campaign and when people call me, I'd qualify them over the phone and set up appointments for Fri night, Sat, and Sun.

Assuming this works I'd like to turn this into a full time career and leave the trucking world within a year. I wouldn't feel comfortable doing that without grossing at least $60k a year.

Thanks for reading.

 

[Travis Price]

I wouldn't qualify them on the phone.

This is one of those things I think you're better off handling the T65 crowd. No qualification needed, really.

Consider T65inbound.com

Yes, it's not as cheap as DM outbound, but its hands off, yes it'll take 4-5 months before you start getting calls. However, those that call you are easy 40% close rates.

You'll need a cash flow to support your insurance habit at first. Just be consistent.

 

[DonP]

Hello, years ago I joined this forum and planned to sell FE, my life situation changed and was unable to.

I am now considering getting back into insurance sales, however I work full time M-F and can't work on anything else during those days, except Friday evenings.

I have experience cold calling, both literally and door to door, and hate them both. I also have experience with direct mail and much prefer that way of prospecting.

What I'm thinking is I'd set up a direct mail campaign and when people call me, I'd qualify them over the phone and set up appointments for Fri night, Sat, and Sun.

Assuming this works I'd like to turn this into a full time career and leave the trucking world within a year. I wouldn't feel comfortable doing that without grossing at least $60k a year.

Thanks for reading.

Lol . When people call your from direct mail ? You’ll be waiting a long time to get a call from a direct mail lead . You got to call them and set appts up . I don’t know how appts for Friday night or Sunday would work . Sat’s a good day . You ain’t grossing $60 k a yr in Medicare for at least 8-10 yrs working 1-2 days a week . There’s a lot of service work in Medicare especially mapd . How are you going to service them only working weekends ? If you work direct mail for Medicare most will be low income . They switch a lot and if your not on top of them you’ll lose a ton of business .I answer all my calls within a few hrs max unless I’m on vacation . Honestly I don’t think I could sell Medicare part time . Part time your much better off selling fe as there’s very little service work . But in fe the renewals aren’t good so you can’t live off them .

 

[Todd King]

Lol . When people call your from direct mail ? You’ll be waiting a long time to get a call from a direct mail lead . You got to call them and set appts up . I don’t know how appts for Friday night or Sunday would work . Sat’s a good day . You ain’t grossing $60 k a yr in Medicare for at least 8-10 yrs working 1-2 days a week . There’s a lot of service work in Medicare especially mapd . How are you going to service them only working weekends ? If you work direct mail for Medicare most will be low income . They switch a lot and if your not on top of them you’ll lose a ton of business .I answer all my calls within a few hrs max unless I’m on vacation . Honestly I don’t think I could sell Medicare part time . Part time your much better off selling fe as there’s very little service work . But in fe the renewals aren’t good so you can’t live off them .

Only if that is the demographic you're using. You can set the income criteria to what you want. Direct mail is not just for duals, so I have no idea what you're talking about.

No where near the service work with Med Supps as there is for MA.

 

[Travis Price]

Lol . When people call your from direct mail ? You’ll be waiting a long time to get a call from a direct mail lead . You got to call them and set appts up . I don’t know how appts for Friday night or Sunday would work . Sat’s a good day . You ain’t grossing $60 k a yr in Medicare for at least 8-10 yrs working 1-2 days a week . There’s a lot of service work in Medicare especially mapd . How are you going to service them only working weekends ? If you work direct mail for Medicare most will be low income . They switch a lot and if your not on top of them you’ll lose a ton of business .I answer all my calls within a few hrs max unless I’m on vacation . Honestly I don’t think I could sell Medicare part time . Part time your much better off selling fe as there’s very little service work . But in fe the renewals aren’t good so you can’t live off them .

I mean, Don is wrong. I get inbound calls every week. I do direct mail.

I also don't work with low income and when I was working full time (with Medicare as part-time) I was only doing 200 letters per month, from 9m out to 3m out.

I have almost no service work. I get a call every once in awhile (and I have a few duals, and maybe 40% total MAPD.) Usually I'm calling them and saying hi.

 

[DonP]

Only is that is the demographic you're using. You can set the income criteria to what you want. Direct mail is not just for duals, so I have no idea what you're talking about.

No where near the service work with Med Supps as there is for MA.

Todd I’ve run every demographic in the book . I run 10 k mailers a month .When you run t-65 or generic Medicare mailers income levels $35-$100k you’ll be lucky to get 3/1000 back . And not a one will call you . Travis if I’m not mistaken your doing something like Scott does . 200-300 letters for like 4-6 months in a row to the same people “ I’m a local agent and some info “ Yeah that will work but it’s not going to get you much vol . The poster is better off doing seminars on sat and setting some appts during the week . Or trying to generate leads on Facebook .

 

[Travis Price]

“ I’m a local agent and some info “ Yeah that will work but it’s not going to get you much vol .

I am.. you can do up to 1500 letters a mailing.

When I was doing ONLY 200-300 letters, I was getting lay-up calls at least twice a week in full swing. No cap.

There's also another guy here (at least I remember he was doing this) Bucknasty, who was doing basically the same thing as his primary driver of business. He was doing 6k mailers per month.

You think you can't make volume with 3k mailers per month when they're essentially lay-ups? I think we'll agree to disagree.

I found my call-in rate for T65 to be around 1%. Half were "they're dead" calls. 10% we talked and it didn't work out. 40% were in my pipeline and closed.

In full swing, I'd get 15-20 calls a month. Close 6-8, usually PDP/Medigap, or MAPD and Cancer/HI. I know that doesn't sound like a lot to you... and that's fine, because everyone has their own goals. But 6-8 doing a grand total of 1500 letters with minimal effort...

Average FYC w/ PDP/Medigap, 400$. Persistency should be really strong for at least the first 3 years. 115k by year 3 before marketing. 100k after marketing. No car issues, because you can technically work from home.

Lets talk regular DM (and I'm being generous with returns)

2000 mailers a month. 2% return. 40 leads. Close to a 25-30% close (which I think is reasonable)

12 sales... but that's grinding those leads also.. driving to their home, calling them a bunch of times, etc.

12 sales, 400$ average 172,800 by year three. If you're getting those DM for free, awesome. If not, let's just say DM+average car cost 25k miles... looking at 150k after expenses.. with a LOT of time and effort.

I'm not saying that's wrong.. but if your goal is to be efficient the extra 50k doesn't really mean much if you're being smart with your money. That's a personal opinion though.

 

[sshafran]

Yeah that will work but it’s not going to get you much vol.

Um, anything can scale. I wrote 310+ new one year doing it, 99% inbound.

The ad copy can be altered for further out. ROI would go down without the heavier local flare but it can still work.

I know a guy on the forum who crossed 3,000 med supp clients doing nothing but postcards for Inbound calls.

Just because you work

I am.. you can do up to 1500 letters a mailing.

When I was doing ONLY 200-300 letters, I was getting lay-up calls at least twice a week in full swing. No cap.

There's also another guy here (at least I remember he was doing this) Bucknasty, who was doing basically the same thing as his primary driver of business. He was doing 6k mailers per month.

You think you can't make volume with 3k mailers per month when they're essentially lay-ups? I think we'll agree to disagree.

Bucknasty did it... (Postcards)
WCMason did it... (Letters)

 

[Travis Price]

Um, anything can scale. I wrote 310+ new one year doing it, 99% inbound.

The other thing Don doesn't realize is that's not ALL you have to do. If I do seminars once or twice a month AND do inbound calls, I'm still working less than 20 hours in total and probably could do more than someone that's doing DM's and driving all over.

I know that sounds like a dig, it's not. I'm saying that attracting people to you v going out and hunting is easier to compound. All I have to do is spend money. You can't make more time.

 

[DonP]

Um, anything can scale. I wrote 310+ new one year doing it, 99% inbound.

The ad copy can be altered for further out. ROI would go down without the heavier local flare but it can still work.

I know a guy on the forum who crossed 3,000 med supp clients doing nothing but postcards for Inbound calls.

Just because you work


Bucknasty did it... (Postcards)
WCMason did it... (Letters)

You did 310 in a yr off how many letters a month x how many months in a row did you mail ? All these people called you off the letters ( all inbound calls ) ?