Entering Med Supps

[DS4]

Senior clients are very loyal. Unlike the pre 65 market where clients go in and out of employer ins. With seniors, retention is easy as long as you service them & shop the market to insure their Med supp is still competitive. I still have 2 Med supp clients I wrote my first year, 1978. They are age 97 & 99 respectively. Can you say "renewals". I probably have 2 or 3 seniors die per week. I'm waiting on 2 death certs as we speak. The key in senior sales is to write more than you lose. Hell, that's the key to success in all health sales.
If I were to show you a chart of my income starting in 1978 through 2009, you would choke to death. This business (health ins) has been very good to me.
My grandfather was a real estate broker in Beverly Hills, Ca in the 20's, 30's, 40's, 50's and 60's.
He told me something once that has stuck in my head all these years, "Service should always come first, the reward of it second. It is thus that a fitting reward is not likely to fail, while he who services only for the reward is quite certain to be keenly disappointed in the end".

 

[Russ]

Russ,
I also do alot of T-65. I work in a 4 county area around my house just setting the appt then go write the medsupp. How difficult is it for you to get a Prospect to start giving you info like there S.S. Number over the phone?
Or do you mail out a blank app and let them fill it out?
Thanks in advance for the info.

I've written several where they gave me the SS# and Medicare# over the phone...after I've talked to them 10-15 minutes and told them who my folks and grand-folks are(well known is this area), and who some of their neighbors are who have coverage with me. Earn their trust.

I phone call within a four county area of my house too.

 

[Russ]

There is more to compliance than what is in the handbook. Call and ask them as I have done and I got a second option from them as well.

In regard to your question of "how they would know" that is a separate issue. There is always a distinction between what is compliant and what you can get away with.

I called the PHD w/AARP this morning and asked them if it was okay to mail a med-supp application to a prospect and have them mail it back to me(signed w/a check).

They said there was no problem with it.

 

[DS4]

I called the PHD w/AARP this morning and asked them if it was okay to mail a med-supp application to a prospect and have them mail it back to me(signed w/a check).

They said there was no problem with it.

I don't see how that could be a problem, If a prospect calls AARP directly, the telephone sales person does a PDF fill in app over the telephone and then mail it to the applicant for only their sig.

 

[alphawave2k]

I called the PHD w/AARP this morning and asked them if it was okay to mail a med-supp application to a prospect and have them mail it back to me(signed w/a check).

They said there was no problem with it.

May I ask how you handle the signature dating? Do you ask them to date it at the time they sign it, or do you leave that open and fill it as you fax or mail it. And do you typically fax it or mail it. Just curious, since I haven't done the mail thing, but have faxed it, though I was told UHC "prefers" having the apps mailed to them.
I figured if it's not mandatory to mail, I just fax them and keep the original as my copy for reference.

 

[Frank Stastny]

May I ask how you handle the signature dating? Do you ask them to date it at the time they sign it, or do you leave that open and fill it as you fax or mail it. And do you typically fax it or mail it. Just curious, since I haven't done the mail thing, but have faxed it, though I was told UHC "prefers" having the apps mailed to them.
I figured if it's not mandatory to mail, I just fax them and keep the original as my copy for reference.

When I send it to them I leave the date blank and ask them to fill in the date when they sign it. This way the date on the app matches the date on their check. It probably doesn't make a difference, however, it eliminates any concerns they may have if I put the date on the app as the date I talk to them on the phone or instead, tell them to leave the date blank.

I think it may appear suspicious to some if you ask them to return the app without any date on it. That may be a very small thing but many times it is the seemingly small little things that may cause the agent to lose the sale. Why take a chance on turning someone off?

 

[Lifeman09]

I'm thinking about entering the Med Supps market but it's not at all a strong suit of mine.

What providers should I be looking at?

Is there a good BGA or equivalent that I can go to for information?

Is there any resource one can point to for learning more about med supp sales?

Thanks.

I posted a thread for a free med supp webinar. Its put together by mutual of omaha and they are offering it through my company. Its suppose to have some good information about med supps and whats to come for 2010. Its information and training for agents NOT for recruitment. I know thats a big concern on this forum for posts like that. Like I mentioned its free. Couldnt hurt to to give it a go. Its listed under med supp webinar. Check it out.

 

[Russ]

May I ask how you handle the signature dating? Do you ask them to date it at the time they sign it, or do you leave that open and fill it as you fax or mail it. And do you typically fax it or mail it. Just curious, since I haven't done the mail thing, but have faxed it, though I was told UHC "prefers" having the apps mailed to them.
I figured if it's not mandatory to mail, I just fax them and keep the original as my copy for reference.

I date it the day they date the check. I mail all med-supp apps. in to AARP.

I read where AARP wouldn't accept faxes on med-supp apps., yet. Being you've faxed some in, they must allow it?

 

[DS4]

With AARP/UHC, you can fax PDP's. Med supp's go mail.