Exclusive Sterling Life WA State Agent??

[medsuptage]

Hello all,

I am currently an exclusive agent with sterling in WA state. I'm relatively new to the business. I've been doing this for less than 6 months. I've been pretty successful by my office standards, probably not by any of your standards.

We are heavily involved in the MA business which I have excluded myself from as much as I possibly can. I haven't seen a MA commission structure for any other companies, but Sterlings is horrid along with the renewals. Most of my product base has been med supps with some of our other nic nac products.

We have, not the highest, but definitely on the higher side price wise for med supps, with relatively low commissions (14%).

Sterling has done some revamping included a new agent bonus structure and a bonus structure for veteran agents based off time with the company and APV sold.

I can see my self growing with the company but I would definitely appreciate some insight from the veterans. I am extremely motivated and willing to do what it takes. I don't want to limit myself and if that's the case I need to get out before I get in over my head.

 

[Newby]

My advice would be to NOT be focused on Med Sups at a captive agency. You will get clobbered out there.
You can be captive at a good company and sell life insurance. But Med sups are too competitive and easy to replace with a lower price.
If I had a gun to my head and had to sell med sups for a captive company it would be MOO. They at least have good rates.

 

[medsuptage]

My advice would be to NOT be focused on Med Sups at a captive agency. You will get clobbered out there.
You can be captive at a good company and sell life insurance. But Med sups are too competitive and easy to replace with a lower price.
If I had a gun to my head and had to sell med sups for a captive company it would be MOO. They at least have good rates.

The only thing we have is whole life insurance up to 50k and in no way do we have good prospecting methods for that. We prospect 65+ for supps and MA plans and we get 1 in 10 who even qualify for the Whole life and then your closing ratio goes from there.

I would have no idea how to market med supps as an independent or broker agent.

 

[VolAgent]

I would have no idea how to market med supps as an independent or broker agent.

How do you market them now?

 

[medsuptage]

How do you market them now?

Recycled leads, Occasional lead card/ hot lead. Actually now that I think about it, it wouldn't be any different.

 

[VolAgent]

Recycled leads, Occasional lead card/ hot lead. Actually now that I think about it, it wouldn't be any different.

Pretty much.

Try to generate your own leads, referrals, warm market, etc. Attend senior events and offer to speak about Medicare at senior centers.

 

[John Bellamy]

Hello all,

I am currently an exclusive agent with sterling in WA state. I'm relatively new to the business. I've been doing this for less than 6 months. I've been pretty successful by my office standards, probably not by any of your standards.

We are heavily involved in the MA business which I have excluded myself from as much as I possibly can. I haven't seen a MA commission structure for any other companies, but Sterlings is horrid along with the renewals. Most of my product base has been med supps with some of our other nic nac products.

We have, not the highest, but definitely on the higher side price wise for med supps, with relatively low commissions (14%).

Sterling has done some revamping included a new agent bonus structure and a bonus structure for veteran agents based off time with the company and APV sold.

I can see my self growing with the company but I would definitely appreciate some insight from the veterans. I am extremely motivated and willing to do what it takes. I don't want to limit myself and if that's the case I need to get out before I get in over my head.

Wondering if you are with Sterling still... I am also with Sterling also thinking I should go elsewhere...