Thanks for the advice. i'll look at the medical supplement. That is available through HCO too? What do you think of the eliteproducer program through brokers alliance. i was looking at that one earlier because they offer benefits but still let you stay independent.
Ihiaa
- Thread starter upnsmoke2005@
- Start date
Thanks for the advice. i'll look at the medical supplement. That is available through HCO too? What do you think of the eliteproducer program through brokers alliance. i was looking at that one earlier because they offer benefits but still let you stay independent.
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Dunno what state you're in, I use ritterim.com they have a quote engine there that is free without even using them as a GA for anything, you just register. I don't know about brokers alliance. I think HCO has contracts for GAFRI which is like the 4th cheapest in my state. I use them for hbp with 3 or more meds + diabetes or hbp/diabetes + any atrial fibulation drug, and a couple other uw issues that won't pass the MOO/gerber/admiral (identical underwriting) or UHL uw. I think I put 2 of my contracts with them just because I like the way they do things and their contracts are fair. The trick to med supp, at least in my state, is that 99% of the seniors I talk with already know they want an F supp, all you really do is find the cheapest one they pass underwriting for. You figure out if they are in a guaranteed issue period, and if not then you go up the list of underwriting from cheapest to most expensive till you find the one that works, might take a few minutes each time till you memorize all that. To make it easier even if you do the appointments at their home, get a list of their medications and do a part d comparison for them before you go, and look the meds up if you don't know what they do. That way you know up front they have high cholesterol, or hbp, or diabetes, and know which underwriting they pass before you even get to the appointment.
You can also learn to do part d just by using the medicare.gov drug comparison tool then help them enroll, or if you REALLY wanna spend some time, get appointed to sell a bunch of the drug plans. The problem with part d appointment is that it takes a LOT of time to do the education requirements and they don't pay well enough to really be worth it, in comparison to med supp, but people do really appreciate it. You still make like $50 an hour writing the policies too, which is nothing to complain about. There is just more hassle with them than med supp or MA in my experience for some reason. I don't know what state you are in, but in tennessee its worth having at least 1 good MA appointment because people that are legally disabled and on medicare but under 65 cannot get a supplement here, but they can enroll in an MA, very few people do them, and its an easy sale.
Part of the reason those leads are so easy to work, the people are usually home, they don't mind talking to you, they don't look for as many excuses to get out of buying (they're legitimately interested in buying). You'll find it a lot easier to get started with those than say life, which people 95% of the time try to find an excuse to get out of and you really have to sell. My closing ratios are like 1:4.5 for med supp leads, 1:10 for health, and 1:15 for life. Life leads are also the most expensive. It costs me $225 on average to generate a life insurance sale, compared to $45 to generate a med supp. My average commission on a med supp is around $250, compared to around $600 for life. Life takes 3 times as many calls, 3 times as many quotes, and does not earn 3 times the profit. The ratios there should tell you the difficulty of the sale involved and what order to learn them in.
You also tend to get more referrals from med supp, in my experience, and more double sales. The really good days are the ones where you get someone and sell 2 supplements, 2 part d, and a FE on both of a married couple. Its a way easier sell than you think, I get a lot of people that are mad they are paying like 170 or 180 a month with blue cross plan f, move them to Moo for like $80 in savings each, then move their part d to save them a couple hundred a piece sometimes by finding the one that saves the most on their drugs, then use part of the savings to sell them FE policies, when I walk out most times they're actually paying less than they started with the same supplement coverage or better and 2 life policies as a bonus. Only issue is you do have to wait 48 hours before you can do the life policies, but you can do them over the phone so it really doesn't matter. Nothing like the 10 dollar internet lead that turns into 2000 in first year commissions tho.
i' going to check out these resources and save this post. once i know what you're talking about fully, it will be a big help. Thank you!!!
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Make sure to just ask if there is ever something you're confused about its difficult to figure this all out on your own. I got 90% of my training from reading these forums and asking questions with no upline support. You can start out indy, it is not the easiest way I'm sure, but it is very satisifying when things really start to click into place.
pmwaura
New Member
- 1
Thanks for all that info KSigmtsu. I have been selling health, and would like to sell med supp. Please advise where to start and who to go with.
