FE As a Secondary Sale

[aheff]

I am a Medicare guy and want to sell FE as a secondary sale. I've been reading this FE forum for some time now, and the information is simply incredible. However, it appears that the great majority of the posters seem to be primarily FE guys-that run FE leads.
So my question here is-how is selling FE as a second sale, once the client purchases a Medicare plan? I assume it is a completely different sales process than going on a FE sales lead. Is the FE mindset difficult to crack if one is not primarily focused in FE?
A follow-up question- I need this FE sales process to be extremely turn key. One carrier only and EASY. Looking for a carrier with renewals. Which carrier should I choose?
Thanks a lot of all you help.

 

[jdeasy]

I am a Medicare guy and want to sell FE as a secondary sale. I've been reading this FE forum for some time now, and the information is simply incredible. However, it appears that the great majority of the posters seem to be primarily FE guys-that run FE leads.
So my question here is-how is selling FE as a second sale, once the client purchases a Medicare plan? I assume it is a completely different sales process than going on a FE sales lead. Is the FE mindset difficult to crack if one is not primarily focused in FE?
A follow-up question- I need this FE sales process to be extremely turn key. One carrier only and EASY. Looking for a carrier with renewals. Which carrier should I choose?
Thanks a lot of all you help.

Actually what you are saying would be the easiest FE sale possible. That's how Frank Statsny sold a ton of FE.

Once he had saved them money on the med sups he offered to put a little of that savings into an FE plan. He would take it all. If he saved them $60/mo on the med sup then he would offer a $40/mo FE plan. They still saved money and had some life insurance too.

You already have their health info and know where they will qualify. They have a bank account and are buyers. Probably not an easier cross sale in this industry.

Cross selling med sups to the FE market is a whole different story.

Trying to fit all FE sales into one carrier is severely limiting yourself and your clients.

 

[Todd King]

I will 2nd everything JD just told you. I will also reiterate that you will be very limited when using one carrier. You COULD get away with 2-3 though.

 

[Newby]

Thanks! You gave me my idea for this week's blog.

– Can I sell FE using only ONE company?

 

[yogooglethis]

I am a Medicare guy and want to sell FE as a secondary sale. I've been reading this FE forum for some time now, and the information is simply incredible. However, it appears that the great majority of the posters seem to be primarily FE guys-that run FE leads.
So my question here is-how is selling FE as a second sale, once the client purchases a Medicare plan? I assume it is a completely different sales process than going on a FE sales lead. Is the FE mindset difficult to crack if one is not primarily focused in FE?
A follow-up question- I need this FE sales process to be extremely turn key. One carrier only and EASY. Looking for a carrier with renewals. Which carrier should I choose?
Thanks a lot of all you help.

That's the easesist wasy to sell FE and the only way I have ever sold FE since I have been a Medicare health plan agent for the last 20 years with some fixed annuities and LTC in the mix.Now in the heyday of MA before MIPPA I was a cross selling FE fool up in here.Like I said I was never a heavey hitter in FE but between 2006-2008 I was doing about 50k in annualized FE premium with a very low key approach simply asking the client after the MA sale was complete - have you taking care of your final expenses yet or something to that effect.These were almost all sold on same appointment.
I have a question for the Med Supp agent who cross sell FE now - How do you not breach the subject of MA and especially PDP on your Med Supp appointments so that you can compliantly cross sell FE and more importantly how do you get appointments to sell Med Supps with prior knowledge of the prospect that you won't be able to take care of their Part D needs in the same appointment ? ( This assumes you are planing to writing a med supp and cross sell FE)

 

[Newby]

That's the easesist wasy to sell FE and the only way I have ever sold FE since I have been a Medicare health plan agent for the last 20 years with some fixed annuities and LTC in the mix.Now in the heyday of MA before MIPPA I was a cross selling FE fool up in here.Like I said I was never a heavey hitter in FE but between 2006-2008 I was doing about 50k in annualized FE premium with a very low key approach simply asking the client after the MA sale was complete - have you taking care of your final expenses yet or something to that effect.These were almost all sold on same appointment.
I have a question for the Med Supp agent who cross sell FE now - How do you not breach the subject of MA and especially PDP on your Med Supp appointments so that you can compliantly cross sell FE and more importantly how do you get appointments to sell Med Supps with prior knowledge of the prospect that you won't be able to take care of their Part D needs in the same appointment ? ( This assumes you are planing to writing a med supp and cross sell FE)

Just don't be the agent on their PDP. Show them how to sign up through the Medicare.gov

 

[yogooglethis]

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Re: FE As a Secondary Sale Go to Top Originally Posted by yogooglethis Image:
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That's the easesist wasy to sell FE and the only way I have ever sold FE since I have been a Medicare health plan agent for the last 20 years with some fixed annuities and LTC in the mix.Now in the heyday of MA before MIPPA I was a cross selling FE fool up in here.Like I said I was never a heavey hitter in FE but between 2006-2008 I was doing about 50k in annualized FE premium with a very low key approach simply asking the client after the MA sale was complete - have you taking care of your final expenses yet or something to that effect.These were almost all sold on same appointment.
I have a question for the Med Supp agent who cross sell FE now - How do you not breach the subject of MA and especially PDP on your Med Supp appointments so that you can compliantly cross sell FE and more importantly how do you get appointments to sell Med Supps with prior knowledge of the prospect that you won't be able to take care of their Part D needs in the same appointment ? ( This assumes you are planing to writing a med supp and cross sell FE)


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Just don't be the agent on their PDP. Show them how to sign up through the Medicare.gov





Does prospect fully understand before you get in home that you are not going to be able to be agent of record for their PDP enrolllment , that you will not have acess to their account should things go awry during the enrollment process and that they are forgoing the benefit of having an agent who is highly motivated to take the time to make a suitable recommendation due to the consequences from CMS and the carriers if you don't .Most of the the prospects I meet with have more questions and concerns about the PDP plans than the Med Supp policies especially T65 prospects.Folks have been buying Med Supp policies through the mail for years because it's pretty straight forward but are eager to let me in their home to explain Part D.Not that I haven't recommended that they consider other PDP other then the one I sell after running the Medicare drug finder ( In these cases I actually recommend that they call the carrier and have a licensed telesales agent with some skin in the game go over the drug list again because the Medicare.gov data could be wrong ) but I seems like it would be hard to get the appointment in the first place if I explained to the prospect when setting the appointment that I can write your Med supp but I will be giving you the DIY kit when it comes to the Part D or else you are going to need another agent to come to your home to help you with that.

Just wondering how this process works because i would love to not have to get involved with part D when selling a Med Supp

 

[Newby]

Sounds like you are way over thinking it. You just tell them that you aren't the agent on the RX because there are 50-different companies. You can show them how to research and enroll at Medicare.gov

If they need hand holding on that you show them the toll free numbers and an agent for the company they choose takes it from there over the phone.

I think most agents have been doing it this way for several years. Who wants the headache of being the agent on an RX plan? They don't pay anything and there is tons of liability since people will always hit donut holes and not understand why their friend didn't.

 

[Rearden]

Just ask, "What's you current situation like in regards to paying for your final expenses?"

If selling MedSupps, you could cross sell FE with a company like 5-Star and be fine.

Talk to Newby about 5Star contracting.

 

[WinoBlues]

I had the opportunity to go on a few MA appointments yesterday. Man! I was biting my own tongue wanting to cross sell FE. What a target rich environment. I imagine Supp clients are closer to my normal market. But that seems like a no brainier sale.