Do You Crossell or Specialize?

[paige23]

Do you guys keep it super simple and sell FE exclusively?
Or do you go in with say, a medicare suppliment first and add in FE after they get that?
I am curious to get feedback.
Thanks in advance.

 

[Newby]

I lead in with FE 95% of the time and then cross sell a lot of Medicare supplements.

 

[0b1kanobee]

I lead in with FE 95% of the time and then cross sell a lot of Medicare supplements.

This was my thought way back but Frank (may he rest in peace) would flip it around and do it the other way. I will say to this day that anyone who tells you to save them money on their supplement and then use the difference to sell them FE is full of crap. You may get lucky every once in a while don't get me wrong.

They have to be in a buying mood. That's when you SELL FE. Once that is done, that's when you save them the money on the supp. Logically it doesn't make sense BUT as MMs will tell you "logic never sold anything" and he's right.

I'm no expert but this is the way I've always seen it and I should have never doubted it. If you want an expert's opinion, well Newby just gave you one. You can take his opinion to the bank.

 

[Tandem62]

Good questions! I go in with medicare supplement first and then cross sell on the FE. It gives better value to the client!

 

[Todd King]

I always led in with Med Supps and cross-sold FE, LTC, & Annuites.

There are many times that you sell the supp but the client has no need for FE. But sometimes they do.

I almost hate to say this, but selling Med Supps is like shooting fish in a barrell; very hard to miss. That's how you build a great renewal base.

Of course, if you are targeting the low end of the FE market you won't find very many Med Supps to replace, so you only sell FE. That's bigger up front money, but less on the renewals.

That's why I always chose to do both.

 

[TDFnCali]

I always led in with Med Supps and cross-sold FE, LTC, & Annuites.

There are many times that you sell the supp but the client has no need for FE. But sometimes they do.

I almost hate to say this, but selling Med Supps is like shooting fish in a barrell; very hard to miss. That's how you build a great renewal base.

Of course, if you are targeting the low end of the FE market you won't find very many Med Supps to replace, so you only sell FE. That's bigger up front money, but less on the renewals.

That's why I always chose to do both.

When u say do both, knowing the bottom of the barrel FE ppl wont most likely buy supps.....how do u target leads for both? Or do u have 2 separate lead sources for each?

 

[jdeasy]

This was my thought way back but Frank (may he rest in peace) would flip it around and do it the other way. I will say to this day that anyone who tells you to save them money on their supplement and then use the difference to sell them FE is full of crap. You may get lucky every once in a while don't get me wrong.

They have to be in a buying mood. That's when you SELL FE. Once that is done, that's when you save them the money on the supp. Logically it doesn't make sense BUT as MMs will tell you "logic never sold anything" and he's right.

I'm no expert but this is the way I've always seen it and I should have never doubted it. If you want an expert's opinion, well Newby just gave you one. You can take his opinion to the bank.

That's not crap at all. That is the easiest way to sell FE. Frank sold a ton of FE that way.

If I wasn't as successful as I am with FE and cross selling a few med sups I would lead with med sups and add on FE.

The opportunity to cross sell med sups to the FE market is almost nil.It two completely different markets. The opportunity to cross sell MA plans is great but I don't sell those anymore.

The ones full of crap would the FE agent working the FE market saying they get a lot of med sup opportunities.

I do over 300 FE apps every year and go on over 500 appointments every year. I ask every person I talk to who they have their med sup with. I sell about 20 med sups a year from that. More than half of that are to people that did not buy FE because they weren't the demographic but they had mailed the card in anyway. I am usually able to then sell them FE after saving them money on the med sup. Those are the easiest FE sales I make.

 

[Newby]

Here's the deal.

It works both ways. You either focus on FE and cross sell Medicare. Or you focus on Medicare and cross sell FE.

It doesn't really matter which lead they sent in. In your warm up you explain what you do and that includes both.

Then you fact find. Who do you have your life insurance coverage with?

Do you have a good Medicare Insurance plan that you are happy with? It's almost always YES. We have xyz brand and they pay EVERYTHING.

That's great! You do have the best plan out there. And they just lowered the price of it in (your state) so it's even better now. But I'm here to talk to you about the card you mailed in requesting information on burial expense insurance. Blah, blah, blaggty-blah...

You just planted the seed and moved on.

You focus on what you are there for and come back around. Don't try to do too many things all at the same time or you will confuse them and sell nothing.

 

[Justin Bilyj]

I cross-sell auto/home/renters in addition to the medicare...

 

[SportsNut]

Do you have a good Medicare Insurance plan that you are happy with? It's almost always YES. We have xyz brand and they pay EVERYTHING.

Yep... they pay everything.... except for that $ 6,700 moop!

80% of the time the mapd folks have NO idea wtf they have or how it works... In fact, about 15 mins after an appt with a basic understandding of what they have... they still have NO idea what they have... except that it pays EVERYTHING! Oh well.

But the FE mkt is a decent lead in to folks that are receiving Extra Help (SEP monthly) and can occassionally be upgraded in their mapd plan, like the one I did yesterday. An easy $ 207 for going back for another 30-40 mins and filling out a form, and drastically upgrading the beneficiaries coverage. (Also good for building an Oct 15 list for those not receiving Extra Help).