Live and Learn
Expert
- 42
Roger, will do.
Does anyone really get "rich" selling Medicare
- Thread starter newbie2001
- Start date
Live and Learn
Expert
- 42
Alright a little update. All 10 policies I wrote in June were approved and all of them are in force, I started selling mid June btw. I have done a follow up with all 10 and all is good. This month I have written 12 policies so far and I also took 5 days off for the 4th July week because I had family visiting. This week alone I wrote 3 policies on Monday and two today. About half were aging in, a couple were c-snp and a few were d-snp. On August 1 I will be moving to a specialty group from the training group I am in and will go from 25 states to 50. I will also get some specialty carriers that we partner with who run targeted campaigns for us. I'd say I am doing pretty well as a new Medicare agent.
I learned that the hard way a few years ago. A lot of times they will call you while another agent is at their house. If you don't answer, or call back immediately, they'll switch plans.
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Good job . So 1/2 the 12 you've written this month have been age ins ? That's very unusual for call ins . I don't recall you saying what your comp is ? I know you said your w-2 . What do you make per hr ? How much extra per app ? You get any renewals ? So far this month I've had 6 call centers try to flip my clients . I saved all 6 by cancelling the apps . But I'm unusual . I'm hyper focused on tracking my business for disenrollments . In my mind saving a client is equal to writing a new one .Most agents lazy .How I know there lazy is I can count on 2 hands how many apps a yr I have cancelled . And for all the 100's and 100's of apps I replace that's very very little .
Live and Learn
Expert
- 42
I used to be an independent agent on the life side and I'm well aware that the comp is completely different when w2. As a w2 agent I have no overhead, licensed in over 25 states, on my way to 50 and have 10+ carriers to offer. I don't have to do any prospecting. I get residuals as well. I don't have to pay to get appointed. I have an hourly pay and get overtime every week.
I have worked in many industries and I have realized that the ultimate sales jobs is one where it's all inbound, no prospecting. It's not for everyone. I closed out the month of July with 20 enrollments and they are all active as of today. This month I'm already at 6 enrollments. 3 Thursday and 3 friday. I have many more opportunities than a field agent because the number of states and contracts I have. Exponentially more. It also works for my family because we homeschool and are tight knit. I have done many deployments while my 2 oldest were little now i get to be home with them everyday. Any how, to each their own.
I have worked in many industries and I have realized that the ultimate sales jobs is one where it's all inbound, no prospecting. It's not for everyone. I closed out the month of July with 20 enrollments and they are all active as of today. This month I'm already at 6 enrollments. 3 Thursday and 3 friday. I have many more opportunities than a field agent because the number of states and contracts I have. Exponentially more. It also works for my family because we homeschool and are tight knit. I have done many deployments while my 2 oldest were little now i get to be home with them everyday. Any how, to each their own.
selfgen
Guru
1000+ clients earned me $280,000 in 2023.
I'll break 300K in 2024. And in about 4 more years I should be over $400K. I'm very pleased with this situation and I'm able to do it as a sole proprietor. I don't have any staff or other agents, employees.
At some point I may hire someone to help with calls and other service issues.
I keep in touch with my clients: I send out letters annually, send texts to clients, I've started a bi-annual newsletter, and I have a Facebook page for clients. I advertise in 3 local church bulletins weekly, I do direct mail to T65 and other prospects and I even do a television spot during AEP on one of the local stations here in town.
I'll break 300K in 2024. And in about 4 more years I should be over $400K. I'm very pleased with this situation and I'm able to do it as a sole proprietor. I don't have any staff or other agents, employees.
At some point I may hire someone to help with calls and other service issues.
I keep in touch with my clients: I send out letters annually, send texts to clients, I've started a bi-annual newsletter, and I have a Facebook page for clients. I advertise in 3 local church bulletins weekly, I do direct mail to T65 and other prospects and I even do a television spot during AEP on one of the local stations here in town.
Live and Learn
Expert
- 42
That's awesome it's just not me. No risk on my shoulders. I just stay certified, sit at my desk turn on the phone and the calls come pouring in. When I'm done I shutdown the pc til the next day. Just hit 11 enrollments for the month as of tonight.
MedicareWAA
Guru
- 453
There are 33 million people with an Advantage plan and another 15 million with a supplement. There are roughly 21 million people with a marketplace plan..
Yes, you can make money in the marketplace but market is not nearly as large as MA and Sups, nor is the compensation as high.
Walter
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WiscBroker
Super Genius
- 133
I will push back on a few points. First yes indeed the market is smaller but there is a lot more congestion and competition with Medicare. For every ten agents near me who sell Medicare there are two or three also offering ACA. This is a huge advantage as many early retirees are often one of ACA for a few years and the other right into Medicare.
Second, by building your ACA business you're also long term building your Medicare business as clients age out of ACA and into Medicare. Plus many of my ACA clients are newly disabled and within two years will be DSNP eligible.
Third, I found ACA to be very lucrative especially when family plans are sold and adding in ancillary plans. For example, a family of five will be $100 per month, on average, plus add in dental, vision, gap and life it becomes very worthwhile.
Fourth, it just adds another referral source offering both. They feed each other.
That's the beauty of this business - we all get to pick and choose what we want.
Some of us want our book - with less overhead. Others want a massive company.
I have an app on my phone (Google Keep) that I use for a lot of things. One thing I use it for is a document that I wrote called "Good Enough" and it's simply a goal list of about 10 things - across a few areas of life, one being business.
The temptation to expand, expand, expand! is always there. So, I have in that document what really is "good enough."
Good Enough - to me - is a set of goals where when hit they don't need to be exceeded, but should be maintained. Not saying I won't exceed them - but if I hit them, then I have permission to stop pushing.
Any area of life (business, fitness, business, wealth, etc.) can be unsatisfying if you never stop pushing for the elusive more.
Running as an example - one of my goals (not there yet by any stretch of the imagination) is to be able to run a 10k pretty much "at will." Some people out there can run a half-marathon at will, or a full marathon on any given Saturday. I don't feel the need to go that far into running.... but I do want to be able to do a 10k on any given Saturday.
My "good enough" is mine. It's different than good enough for others, and I'm ok with that.
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