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Frank is almost always right 98.9% of the time.
Frank Stastny Was Right
- Thread starter Rearden
- Start date
Cool that you only had to pay half for something you didn't want or ask for.
Incomes from zero?
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I know all about zero income. I could do a webinar on it.
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It's a completely different market. Most agents that try to work FE has no understanding of the market.
I mail for up to $50,000 income too. The upper income people are not part of the 1% respondents, {for the most part}.
You can sell med sups to the FE clients that fit into the med sup buyers market. I do over 500 presentations per year. ot all are over 65, but I ask them all anyway about theor med sup because so many are on disability and have medicare.
I could sell more MA plans than med sups. I haven't sold an MA in 3 years now. I do refer many to a friend that does write MA. Probably 2 a week get referred to him.
Everyone that pospects solely for FE knows exactly what i'm talking about. Those don't will learn as they try to sell med sups and/or annuities to the FE market.
Maybe you just live in Kentucky and everyone is poor in Kentucky...
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I've found the same thing to be true. Med Supp clients are typically higher income than FE. I find a certain percentage of my leads coming from people that have no interest in FE, but some of those have interest in Med Supp. I've gone to the time/expense of the mailing, appointment setting, and the appointment itself, what's 5 more minutes to find out if they can save $50-$75 on Med Supp. Or, if they are T65 anytime soon, We set future appt to discuss Medicare.
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Thanks Dave, I appreciate the kind words.
I've discovered that also having a dental, vision and hearing policy can give the agent one more thing that seniors are always asking about.
Not necessarily to "sell" but just to let them know that I have it available just like I do with FE.
I really don't "sell" either one to a new Med Supp client, I just suggest to them that they may want to reinvest some of the money I saved them in a small FE plan or DVH plan. Making "suggestions" usually works better for me with a new Med Supp client rather than trying to "sell" it to them.
When I was selling Medicare supplements, we sold many to what would be considered "low income" or "poor" and yet you would be surprised how many of them paid their premium annually. I remember on case in particular. They lived in a rented house that looked as if it would fall down any moment. The floors were bare wood except for eh kitchen that had bare linoleum. The heat was from a warm morning wood heater and there was no air conditioning. The couple was dressed in very worn clothing. There were an old 15 yr old car and an old rusty pickup in the yard along with a dozen old dogs.
When I introduced myself to the couple, I thought I am wasting my time but since it was referral from a client, I felt obligated to give it a shot. We sat at the kitchen table and the lady gave me a couple of coffee (instant made with warm tap water ). I showed them a Med Supp and quoted the annual premiums. Then the man wanted to know about getting $15,000 FE on each one. I quoted an annual premium on those. He also wanted to know about insurance on his grandkids.. I was getting a little impatient, thinking he was a tire kicker and didn't have the money to buy but I quoted those also. When I finished he asked the total.. I added it up and told him the total. it was $4200 and change.. He looked at his wife and said, "Get it for him" She left the room, went into another part of the house and came back with 43 $100 bills. Must admit, I felt a little foolish.
Later, they would buy LTCi from me (we called them Nursing Home policies back then) and several other plans.
From that day on, I never judged how much money a person had based on appearances. I just assumed they could pay the premium if they wanted to and it was my job to make them want to. As for the payment of annual premiums, back then almost 90% of all senior sales we made were annual premium simply because that is what we quoted. If there was an objection, we would drop down to another mode.
Of course, there were no MA plans and people did their best not to depend on Medicaid, food stamps, etc. because they didn't want the government to keep them up. Perhaps attitudes are different now.
When I introduced myself to the couple, I thought I am wasting my time but since it was referral from a client, I felt obligated to give it a shot. We sat at the kitchen table and the lady gave me a couple of coffee (instant made with warm tap water ). I showed them a Med Supp and quoted the annual premiums. Then the man wanted to know about getting $15,000 FE on each one. I quoted an annual premium on those. He also wanted to know about insurance on his grandkids.. I was getting a little impatient, thinking he was a tire kicker and didn't have the money to buy but I quoted those also. When I finished he asked the total.. I added it up and told him the total. it was $4200 and change.. He looked at his wife and said, "Get it for him" She left the room, went into another part of the house and came back with 43 $100 bills. Must admit, I felt a little foolish.
Later, they would buy LTCi from me (we called them Nursing Home policies back then) and several other plans.
From that day on, I never judged how much money a person had based on appearances. I just assumed they could pay the premium if they wanted to and it was my job to make them want to. As for the payment of annual premiums, back then almost 90% of all senior sales we made were annual premium simply because that is what we quoted. If there was an objection, we would drop down to another mode.
Of course, there were no MA plans and people did their best not to depend on Medicaid, food stamps, etc. because they didn't want the government to keep them up. Perhaps attitudes are different now.
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