Good Opportunity ???

I know a couple of guys that work retirement homes AS ONE SEGMENT of their marketing. Getting in took a lot of time and networking. You can bet you are not the first agent to think this place is a pot of gold.

And you won't be the last either.

Once you get in, IF you get in, don't expect everything to be a lay down.

One of the agents spends a lot of time at a ritzy high rise. Buy in for residents runs $200k to $500k and monthly fees start @ $3000 for a 1 BR 700 sq ft apartment. He also invests about $30k/yr sponsoring events, conducting educational meetings, etc.

If you want to play in that market you better have game.

Thank you Bob,

LIKE i said,..the average age is early 70's. I have heard the best time to Pitch MAP is 65-67. SO, they are about 5 yrs after that. Seems like the better market would be to those who are turning 65 and still in their present homes...not sure.

I suspect your HI-BROW friend with the fancy condo is pitching A LOT MORE than just MAP's. He's probably pitching annuinties, and retirement plans, etc. (wouldn't you think???)


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I don't write MA plans so I don't know the "best" time to pitch them. All my clients (500+) have Medigap plans.

I didn't SELL them, they were BOUGHT. Most of my clients are T65 but about 20% are underwritten. That percentage might be higher because I have rolled at least 20% of my clients in the last 3 years to same plan, different carrier.

Every year I lose a few, 5 or less, to MA plans. Some who leave want to come back but it is usually when they experience high medical bills. By then it is too late.

Some parts of the country have high MA penetration. Not sure why that is. I would think there is still a market for Medigap but I can't say. I do know a number of T65's call to learn about Medicare and many of them ask why agents are "pushing" MA plans.

So I explain . . . and almost all end up with a Medigap plan.

I rarely have anyone say they can't afford the supplement plan but many agents claim their clients would love to have a supplement plan if they had the money.

Keith does in fact sell more than just Medicare. Also sells life insurance and maybe annuities. I don't think he has a security license. He does promote dental insurance. Don't know why, it is a product that generates more complaints than anything.
 
Thank you Bob,

LIKE i said,..the average age is early 70's. I have heard the best time to Pitch MAP is 65-67. SO, they are about 5 yrs after that. Seems like the better market would be to those who are turning 65 and still in their present homes...not sure.

I suspect your HI-BROW friend with the fancy condo is pitching A LOT MORE than just MAP's. He's probably pitching annuinties, and retirement plans, etc. (wouldn't you think???)


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There's no best time. The best time to buy insurance is before you need it. How many plans have you sold so far, roughly? You will get some people that wont be interested, regardless of the age, or the timing, or the perfect pitch. It's just the nature of it. I bet if you asked every person in the condo village, some would be in the 70s and they'd still change. I sold a plan to an 85 year old on Wednesday, and to her son, who is 66.
 
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