Do You Move on or Have a Follow Up Contact System?

[Mick_Keyou]

At what point do you cut bait with a cold call contact who gives you the typical objection (prospect says I'm with xyz and they pay all the bills. No thanks). You have a brief conversation with them to overcome this objection, but they have their mind pretty made up.

1. I move on without any follow up.
2. I add their carrier to my CRM and move on until a rate increase.
3. I add to CRM and call them back x amount of time later.
4. Try & keep conversation going with sales techniques/processes to keep dialogue going.

Any others? I'm too new for #4, but I try and learn as much as I can. Just trying to make the best use of my time as a new agent.

 

[tins]

I typically tell them something similar to:
It sounds like you have great coverage and I never even attempt to change someones coverage if you are happy with it. What I do is save people money with the same insurance they already have.
What Plan do you have? (Usually Plan F)
I can see why you like that so much. It covers every dime of every doctor visit, specialist visit, test, screening, hospital, inpatient or out patient.
Am I right? (They say 'yes')
Good, Every company that offers that Plan F is the same coverage, because it is regulated by Medicare. Medicare says to the insurance companies you can sell this Plan, but if you do, this is what it covers.
Now, some companies will charge more than others for this plan. Some companies will charge less. It doesn't matter which company yo are with...it's the same insurance.
Forget about the company for a second, because it doesn't matter, the insurance is the same thing- Would you rather pay more or less for your policy?


And I go from there to try to set the appointment. If you're doing telesales, you start to grab their premium info at this point. Start quoting what you have. I am able to set a good number of appointments using this to overcome that objection. But still many many will not care.
If they are still objecting, I move on. No need to get hung up with somebody that has zero interest. It will just waste your time and theirs.

 

[Mick_Keyou]

Awesome tins!!!20characters!!!!!

 

[Todd King]

If you are new to the med supp side, I would suggest you go sign up with MedicareTraining101.com.

They can teach you a lot. They can even teach you a bit about final expense too.

 

[TXInsuranceAgent]

I know everyone's learning curve is different but does medicaretraining101 teach you enough for you to feel confident to appoint with carriers or is there still a huge learning curve? All I know is that I don't know crap about Med Supps.

 

[Newby]

I know everyone's learning curve is different but does medicaretraining101 teach you enough for you to feel confident to appoint with carriers or is there still a huge learning curve? All I know is that I don't know crap about Med Supps.

You should be able to learn enough from them to get out there from Medicaretraining101.

Medicare Supplements are one of the easiest products to understand and fell confident with one you grasp the basics because all the companies are selling the exact same thing. It's true apples to apples comparisons so it becomes very much about price.

The initial learning curve is only difficult because you confuse Medicare Advantage and Medicare Supplements together. Once you get that part straight it makes more sense. Rick and Nick's website at medicaretraining101 can definitely get you going. They know what they are doing.

 

[hassy99]

I know everyone's learning curve is different but does medicaretraining101 teach you enough for you to feel confident to appoint with carriers or is there still a huge learning curve? All I know is that I don't know crap about Med Supps.

I don't think it really as complicated as most think
From an insurance standpoint. The best approach for you would be to study/learn what original Medicare A & B. does and doesn't pay for

One buys insurance to cover part or all of the financial exposure. With Medicare the exposure. Is. Part A (overnight facility stay) deductible. Part B (all medical and outpatient services). Annual deductible. And 20% of all charges deamed eligible (by CMS) and not paid by Medicare.
Maybe a bit over simplification. But not by much

All the Medicare supplement plans are standardized (coverage for plan are identical for each company). Plans are Plan A. F. N Etc. with the high deductible option for plan F

If you master these basics. You will be able to compare coverages for your clients and they can choose how much of the exposure they want to take care of (how good of a plan they want to pay for)

You can do this

There is an online training program. I believe it is medicare101.com. Might be worth checking out

 

[openmindedone]

At what point do you cut bait with a cold call contact who gives you the typical objection (prospect says I'm with xyz and they pay all the bills. No thanks). You have a brief conversation with them to overcome this objection, but they have their mind pretty made up.

1. I move on without any follow up.
2. I add their carrier to my CRM and move on until a rate increase.
3. I add to CRM and call them back x amount of time later.
4. Try & keep conversation going with sales techniques/processes to keep dialogue going.

Any others? I'm too new for #4, but I try and learn as much as I can. Just trying to make the best use of my time as a new agent.

In time you will know when to hold em and know when to fold em. And yes sometimes you have to know when to walk away and know when to run.

If you are presenting someone a huge savings and cant set the appointment then sorry but no means no. If their plan is still price competitive and you can manage a good conversation then it would be wise to follow up again at a better time, say after a rate increase.

 

[Mick_Keyou]

Looks like this thread got a little off track. This was geared for telesales and for those prospects that immediately put up their defenses and you can tell aren't listening to you.

For example, I spoke to a woman recently. She told me she's with Humana and I could save her $600 a year. I went over everything with her. Restated savings & benefits. I told her I would mail her some info that would show her that her benefits stay the same (This appears to be the only real objection from my limited experience). Followed up a week later with her and she was still guarded.

My question is for the veterans: Is it best to just move on to the next cold call or try a little harder like I did? Add to crm? Mail something? Etc.

This time mailing out a follow up piece didn't help, but perhaps it does by doing it long term.

 

[pcbinsurance]

Keep "dripping" on her and one day she'll look at that $600 savings and she will take the bait. Don't give up on her. Add her to the CRM and suspend her out a month and call her back. You could also mail her a postcard in a couple of weeks.