I'll Get Back With You.....

[Russ]

Get a phone call yesterday afternoon from a lady that had a family member that had a Medicare supplement with me. She was checking on the prices for a med-supp for her 74 year-old husband, who has no supplement and had prostate cancer 2 years ago and had to pay over a grand OOP. I told her I would look up the companies I write for and call her this morning. I bet myself $50 that her answer would be the most commonly used phrase I've heard in my quarter-century in this job...."I'll get back with you". After looking through the various companies, AARP would be the least expensive for him. Her answer..."I'll get back with you. I've gotten literature in the mail from AARP. I'll look it over and give you a call. I'd rather deal with a local agent." The odds of her calling....between 2-5%. Mrs. Suspect...why did you call?

The 2nd most commonly used phrase is....."let me talk to my spouse first".....3rd...."Let me wait til after the first of the year"...why? If you can't afford it this December, how will next December be any different?

Oh well, I'm $50 dollars richer in my mind.

 

[Charpress]

I've had this scenario happen many time. I determined some time ago that I would never again give a specific recommendation over the phone again.

I did that once. She kept pressing me on the phone for the company I was recommending. After telling her, I got "I'll get back with you."

Found out later that she told another agent she was working with the details and the company. I did the work, someone else got the commission.

Why not tell your client on the phone "I've found the perfect fit for you based on what you have told me so far. Let's get together to look at the details."

 

[Russ]

I've had this scenario happen many time. I determined some time ago that I would never again give a specific recommendation over the phone again.

I did that once. She kept pressing me on the phone for the company I was recommending. After telling her, I got "I'll get back with you."

Found out later that she told another agent she was working with the details and the company. I did the work, someone else got the commission.

Why not tell your client on the phone "I've found the perfect fit for you based on what you have told me so far. Let's get together to look at the details."

And her response would have, in all likelihood been...."No, I'm just looking for quotes on the best company for my spouse."

I'll make a promise though...I'll try you approach from now on and see what it gets me.

I've thought about telling the next person that tells me they'll get back with me.... do you know what Mrs. Suspect, the odds of you calling me back are about 2%. They would probably hang up on me...lol.....

 

[djs]

Bottom line in this case is she went off to shop price, thinking the direct approach was less money than going through you.

Its a balancing act, a lot of agents quote and sell over the phone, people are leary of salesmen who won't give a price on the phone (Charpress is correct though, make it about benefits, not price, to request getting together). If you get in front of them, you'll likely close them.

In P&C, I don't have the same issue, but it is similar. I was taught that pricing on the phone was the equivalent of suicide in the sale, but then, I have an online quoter on my website (along with many other agents), so it seems insane to not quote. You either have to close on the call OR simply let them know that they get a better value writing the business with you than they do if they go direct.... such as:

Ms Prospect, my job is to help you get the right coverage for your situation. As an industry professional, I've taken the time to learn about the various plans and how they can benefit you. Even with my service, the plan costs exactly the same as if you went direct to the carrier, but you have the confidence of knowing a professional helped you decide on a plan.

or something to that effect. I would suggest throwing in a few tie-downs along the way, giving them time to realize what you are saying.

I've learned the hard way that few people realize that the pricing is the same. They really think they can shop agents against themselves or direct through a carrier will save money.

Dan

 

[Russ]

Talked to a man today on the phone that is 74 years old....lost his group coverage through his now, ex-wife's job, when they got divorced. His coverage ended 12-31-08. He took out a med-supp with me a couple of months ago. I called him today to pursue a PDP plan on him. He told me he was taking Micardis...paying $85 for 60 tablets. He told me he was taking one a day. I looked up AdvantraRX....value plan is $24.60 a month...co-pay on his Micardis...$24. His response.....

"I'll get back with you"

And I'm still waiting on the lady that called me last week on a med-supp that told me the same thing. Guess I should have told the man today..."I've found the perfect fit for you based on what you have told me so far. Let's get together to look at the details." Guess I should have driven 60 miles to see this man to make $27 bucks...not!

 

[HealthGuy]

With the commission reimbursement rates being like cut in half recently, why is anybody working the senior market anymore? Does anybody make money anymore selling Medicare to seniors?

 

[Russ]

With the commission reimbursement rates being like cut in half recently, why is anybody working the senior market anymore? Does anybody make money anymore selling Medicare to seniors?

I make over $400 a year on his supplement. It's good business...a referral from existing clients.

Granted the PDP won't save him much now, but I explained to him about the penalty if he waits after the 60 day window....loss of creditable coverage opportunity he has. He's only taking one med....it won't save much now, but he may be taking more medicines one day.

Odds of him calling me....about 1%.

Odds of the lady calling me that I started this thread about......about 1% and falling.

 

[moonlightandmargaritas]

I've thought about telling the next person that tells me they'll get back with me.... do you know what Mrs. Suspect, the odds of you calling me back are about 2%.

Fortunately I don't run into this situation too much, but when I do, I say, "when you call back, ask for Blueboy - I'll be the one in the corner holding my breath."

Gets a lot of laughs.

 

[Russ]

Fortunately I don't run into this situation too much, but when I do, I say, "when you call back, ask for Blueboy - I'll be the one in the corner holding my breath."

Gets a lot of laughs.

 

[stormtracker]

Heard a good comeback for "I'll call you back..." This agent tells them, "OK, when you do I will have you talk to one of my junior agents..."