Hypothetical Medicare Supplement Poll

[Medicare123]

Curious mind at work. Ok - it's almost the Annual Enrollment Period, you have your bag of carriers you will market to your clients. You have your rate guides so you know who is favorable and who is not and of course you probably have a favorite carrier or incentive trip you are looking to qualify for. Now - you are being bombarded as of late with per app offers of $50 to $100 for the submittal of business to "x" carrier. My question - how likely are you to change your selling preferences based on a per app bounty?

 

[G.Gordon]

Almost zero. We are in business to make money, that said, we gain more clients every week by doing what is right by the client, not what is right for us. If the premiums are close enough and we are saving the client money in a move from company A to company B, then sure, helping your bottom line is fine, but if that is all you do, it will bite you in the end.

We do a bunch of free work, today alone three non-clients at the desk for nothing but service and advise. But all three of those non-clients are out there singing our praises today even though we didn't get paid, the word of mouth sure brings in more referrals than a paid for newspaper ad.

 

[smokin goose]

I am new to insurance. Only 3 years in and 2 years independent.

My opinion is I want to work with carriers that want to work with me. By this I mean:

How difficult is UW?

Is the application process simple?

Are the rates reasonable?

Is service work easy or a nightmare?

Can I get ahold of the right person when I call, in a reasonable amount of time?

Are underwriting decisions made quickly?

Is their agent portal easy to navigate?

Can I easily see my BoB on the portal?

Etc., etc.

 

[sman]

Curious mind at work. Ok - it's almost the Annual Enrollment Period, you have your bag of carriers you will market to your clients. You have your rate guides so you know who is favorable and who is not and of course you probably have a favorite carrier or incentive trip you are looking to qualify for. Now - you are being bombarded as of late with per app offers of $50 to $100 for the submittal of business to "x" carrier. My question - how likely are you to change your selling preferences based on a per app bounty?

I don't worry about incentives at all. I'm of the mindset that you take care of the client. Nothing wrong with taking advantage of incentives as long as you aren't putting that ahead of what's best for the client.

 

[goillini52]

Curious mind at work. Ok - it's almost the Annual Enrollment Period, you have your bag of carriers you will market to your clients. You have your rate guides so you know who is favorable and who is not and of course you probably have a favorite carrier or incentive trip you are looking to qualify for. Now - you are being bombarded as of late with per app offers of $50 to $100 for the submittal of business to "x" carrier. My question - how likely are you to change your selling preferences based on a per app bounty?

No affect on me. Most of the companies offering the "bounties" are companies I don't feel comfortable doing business with(Manhattan) or the bonus would bring them level with the ones I use(CSI).

 

[GreenSky]

Commissions mean nothing to me. I want a carrier to offer some frozen steaks for every 50 apps and I'll be on board.

Rick

 

[somarco]

There has only been one time in recent memory that I regretted missing a bonus. A few years ago I missed a bonus by 2 cases. Had I been paying attention I could have easily written 2 more apps with that carrier and the client would have paid $5 - $10 more per month.

Did I let it bother me?

No.

I don't even look at incentives any more. If I get a bonus, great, but I am not changing anything to pick up a few more bucks.

And I don't give a damn about carrier trips. Give me the money and I will take my own trip.

 

[DS4]

And I don't give a damn about carrier trips. Give me the money and I will take my own trip.

I hear ya.
I've been to Hawaii about 25 times and never on my nickel.
Just pay me.