Finding Your "Niche?"

Aug 17, 2016

  1. Tim Resnick
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    Tim Resnick Super Genius

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    Hi Comrades,

    I just passed my Life, Health Annuities Test in Fla. Now, i am considering what to sell. I know some people who sell Medicare Advantage, and Sups...but i'm not sure that's for me.

    I was hoping maybe some of the Seasoned Vets could tell me "What they like about selling Medicare advantage?" OR is Med sups better?

    There are companies that run phone rooms for Sups but not sure i wanna sit in a cubical all day.

    I new and green to insurance (in the past i have sold Cars, appliances, and Real Estate). This is the first "intangible" product i would be selling.

    Anyway, was just wanting some input on HOW the pros found their niche and WHY they stuck with it?

    Any constructive input would be greatly appreciated. Thanks very much!

    ~Tim
     
  2. DS4
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    DS4 Guru

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    In 1976, I started out selling strictly life insurance. My last life sale was in 1989. I now strictly sell health insurance: group, under 65, and, Medicare products. And, within the next few years, I will probably be 100% Medicare related products.
    Your license allows you to sell many different products.
    Jump in and see what you like.
     
    DS4, Aug 17, 2016
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  3. jacobtn
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    jacobtn Guru

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    Why restrict yourself to one product? You've already paid for the lead and made the rapport with a client, why not sell whatever the client needs instead of limiting yourself?
     
    jacobtn, Aug 17, 2016
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  4. glgamerica
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    glgamerica Super Genius

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    I started out at a big mutual selling individuals. I met a guy while I was there that introduced me to worksite insurance and I've been doing that for 20 plus years now.

    Some of finding your niche is just meeting someone who is good enough at it that you can learn from them. I don't think it's as effective to learn how to do particular niches from managers who only job is to manage and not sell. You need to work with people who actually are walking the walk so to speak.

    So what niche you end up in might have a lot to do with who you meet and work with.

    I'm looking for producers too. Message me if you want.

    In any case, good luck!
     
  5. DS4
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    If I had idle time, yes, cross sell. I'm now 100% Medicare supps & Part D. No time for anything else. My business is 95% referral.
    In my early days, I sold 100% life. Added under 65 health, then added group, then Medicare. In the mid to late 80's, health exploded. I dropped life.
     
    DS4, Aug 18, 2016
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  6. axeman462
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    if you are working Florida, you have to sell both to survive.

    I have always been curious why someone would get their license without a business plan already in place?
     
  7. Tim Resnick
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    Tim Resnick Super Genius

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    Actually, i interviewed with a bank (not to long ago), and they asked if i had a 215 lic., so i thought i would pick it up. I haven't made up my mind yet which direction to go.

    SO you are saying i need to do BOTH med-advantage and sups to really make a go of it? ---->BTW, thanks very much for your input....
    --------------------------------------------------------------------
    Anyway, I spoke to an FMO and they were giving me the "rah,rah, go get um" speech (which made me a little suspicious) so that's why i came here.

    I'm wondering HOW TOUGH is it to sell Med adv./sups as an outside sales rep.?

    I guess that's what i'm really wanting to know. The no-nonsense story. I assume its not easy but could be rewarding with a flexible schedule (which i kinda prize). However, i know there's a price to pay for everything.

    What can i expect my first year, and into the future?

    Can Anyone point me to a realistic expectation thread for a newby (or something similar)?


    Thanks very much!

    ~Tim
     
  8. axeman462
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    axeman462 Guru

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    Yes, both Medicare Supplements and Medicare Advantage are very strong in this state, so it would be wise to be able to offer both products to the customer, you just never know what their preference is gonna be. Personally, my book of business is split almost even between supps and MAPD.
    Where abouts are you located?

    As for getting started, it would be beneficial to get with an FMO or captive company that is willing to offer detailed training, even if the commission is a little on the low side to start out with. Once you feel comfortable with the products (usually 6-12 months) you may want to consider jumping ship to the indy side.

    If your experienced if in sales, the business is not all that hard (there is only something like a 95% fail rate in the industry). As with any sales job, the hardest part is finding people to talk to (not to be taken lightly), the rest is easy.

    First year income is super hard to project. I wouldn't even want to estimate. As cliche as it sounds, it really is up to you, and your discipline.
     
  9. Gulfman
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    Nice response axeman (guess you're not all nails and thorns)

    :)
     
    Gulfman, Aug 19, 2016
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  10. Tim Resnick
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    Tim Resnick Super Genius

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    Ok, thanks guys.

    I'll keep reading here and asking questions (try not to ask the wrong ones).

    ~Tim
     
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