Considering selling Medicare supplements. Am I crazy?

[honestabe]

I have nearly two decade of experience in life/health (mostly life, and mostly annuities), but it has been very part time due to a start-up venture outside the insurance industry with which I was involved, thought it failed. Thus, I am looking to make insurance VERY full time.

My IMO relationship is a great one, but they are not in the Medicare market.

Ideally, what I am looking for is:

• Telephone sales
• Independent agency with several carriers available
• Understand if it's worth my time, or if I would be better off just building the annuity side of my business
• which I would argue adding Med Sups would help do
• Some level of marketing support

My problem is ignorance, though I am willing to learn. I am much more interested in quality products and pricing than making high commissions on garbage and niche products.

Who are the big players/marketing organizations that have freedom, flexibility, and SOLID products? Yes, I have done some preliminary investigation and have some calls lined up for next week, but I know this forum is good at giving the details and thinking that a Google search and surface vetting doesn't always reveal.

Thanks for reading, and for any help you can lend!

 

[lifeismylife76]

UnitedHealthCare has a branded AARP Med Supp that pays lifetime renewals! And you don’t even have to take AHIP. Lots more money up front on MAPD but that’s not really phone sales if your Independent. 10,000 people turn 65 every day for like the next 20 years. I’m not recruiting but hey....that’s my bread and butter. Renewals are the bomb!!

 

[Newby]

I have nearly two decade of experience in life/health (mostly life, and mostly annuities), but it has been very part time due to a start-up venture outside the insurance industry with which I was involved, thought it failed. Thus, I am looking to make insurance VERY full time.

My IMO relationship is a great one, but they are not in the Medicare market.

Ideally, what I am looking for is:

• Telephone sales
• Independent agency with several carriers available
• Understand if it's worth my time, or if I would be better off just building the annuity side of my business
• which I would argue adding Med Sups would help do
• Some level of marketing support

My problem is ignorance, though I am willing to learn. I am much more interested in quality products and pricing than making high commissions on garbage and niche products.

Who are the big players/marketing organizations that have freedom, flexibility, and SOLID products? Yes, I have done some preliminary investigation and have some calls lined up for next week, but I know this forum is good at giving the details and thinking that a Google search and surface vetting doesn't always reveal.

Thanks for reading, and for any help you can lend!

If you are doing Medicare by phone then Chris Westfall is your obvious choice. Just google Medicare by Phone and you will find him.

 

[TampaHound]

I've done some work with Medicare by phone for some major call centers. It's not an easy sale and these people are called 100 times minimum during AEP for example. Plus it's not common for them to take one product and then turn around and take another product because it's a dollar cheaper.

Not trying to be negative. Just giving you a heads up. However since you already have a good book of business, reaching out to them is never a bad idea. Pick up some good Dental/Vision plans as well. Medicare.gov drug finder is a amazing resource, well your not going to make a lot of cash off the drug plans, I've always viewed it as an add on service that will build value.

https://www.medicare.gov/find-a-plan/questions/home.aspx

 

[TampaHound]

UnitedHealthCare has a branded AARP Med Supp that pays lifetime renewals! And you don’t even have to take AHIP. Lots more money up front on MAPD but that’s not really phone sales if your Independent. 10,000 people turn 65 every day for like the next 20 years. I’m not recruiting but hey....that’s my bread and butter. Renewals are the bomb!!

While I mostly agree with the Med Supp part, I have an issue with UHC drug plans. I've found that often UHC will tell them they have to have a UHC drug plan as well. Which is clearly not true and their plans are often more costly when it comes to drugs.

 

[somarco]

Selling Medicare supplements by phone definitely works. You need a system and training and . . . enough cash to pay your bills PLUS finance a MINIMUM of 12 months funding your new business.

Reach out to @Todd King for information and suggestions. If you want to talk to Westfall you can, but there are better options.

Cold calling folks for Medicare is brutal.

Look for a SYSTEM that allows prospects to OPT IN.

Direct mail is one of the most cost effective methods.

Selling Medicare by phone TAKES TIME. This is not an overnight GRQ business. Most folks will need 3 years before they can cut back.

If you stick with it you can trust me it is definitely worth the journey.

 

[rousemark]

If you aren't at least a little crazy, you won't be in the insurance business. A same person would never survive.

 

[Chazm]

in my opinion, people aren’t answering their phones anymore and selling Med supps by cold calling is a tough gig. I tried it. Failed.
I now do seminars and couldn’t imagine it any other way.

 

[Rob Lion]

I'd reach out to Justin Brock, or Chris Westfall they both have systems that are working by phone.

 

[honestabe]

Thank you all so much for your feedback and help... and a little comedy! Still chewing this over, but it's now a matter of WHEN not IF, because the renewal money seems too good to pass up, not to mention having another way to bring clients in my door and keep them in my practice long term, generationally.

Just may be back for more questions and answers, along with my experience, in a bit.

Happy selling!