Florida Med Supp Carriers

[Tampa Teddy]

As a new agent just entering this market, I'm hoping that a few of the experts here are willing to point me in the right direction.

In doing my research it seems that MOO & AARP/UHC, are two of the must have Med Supp companies here in the Tampa Bay area. Is this correct & who else should I add? I'm thinking 3-4 should do it.

Also, can I go direct or am I required to go thru an FMO? If I have to use an FMO, are there any that you recommend?

I would greatly appreciate any and all help that you guys are willing to throw my way.

 

[Tampa Teddy]

Is it true that AARP only pays a low flat rate? What would be considered a good commission for AARP in our area? Do I have to go thru an FMO or can it be direct?

 

[moonlightandmargaritas]

FMO.

 

[Tampa Teddy]

FMO.

Care to elaborate a little further or do I have to buy you a drink first?

 

[Tampa Teddy]

aarp pays a straight 157.50 up front 9 months then 17.50 a month after that. The pay sucks for sure but its better than making 0 especially when the customer says "I want aarp"

How do you make any money at $17.50 per month? Seems like there has to be a better way? What is an average week policy wise, for the average agent?

 

[Russ]

How do you make any money at $17.50 per month? Seems like there has to be a better way? What is an average week policy wise, for the average agent?

Have a 100 med-supps with them.....$17.50 x 100 policies= $1750 a month in renewals. I'm about a third of the way there with them.

Bankers Life is competitive here in the panhandle of Florida. Not sure about other parts of the state.

 

[moonlightandmargaritas]

Bankers Life is competitive here in the panhandle of Florida. Not sure about other parts of the state.

That is a captive opportunity Russ, no?

Their rates are ultra-competitive here in Tampa Bay, as is American Pioneer.

 

[Russ]

That is a captive opportunity Russ, no?

Their rates are ultra-competitive here in Tampa Bay, as is American Pioneer.

I think they are captive. Forgot about that. Their the main competition here in the panhandle, with MoO and AARP.

American Pioneer is expensive here.

 

[Russ]

Miami coast and Sarasota county are the highest in Florida.
Its hard to make a living with med sups in our area.
I was doing senior seminars last year and it didn't produce much so purchasing leads is it for me, we also did mailers and received nothing back.
The senior market is very slow so far this year, last year I was on fire, this year, not so much this year, have had lead money in two seperate companies and have received 4 leads in 3 months.

I get T65 leads and call them about 4 months before the Medicare start date. If you wait until 1-2 months before Medicare starts, competition will have already gotten to them here.

I am calling ones now that will be 65 in December.

 

[Tampa Teddy]

Have a 100 med-supps with them.....$17.50 x 100 policies= $1750 a month in renewals. I'm about a third of the way there with them.

Bankers Life is competitive here in the panhandle of Florida. Not sure about other parts of the state.

I guess if you can write 100 per month, but is that even a reasonable number. What is the average agents monthly production?

I was also just looking into this AARP with an FMO, that shows renewals at only $105 per year. Is this correct or are they trying to stick me?