Frank always posts his number. You might call him if you're the one needing help.
I recently was in a similar situation to yours. I left a stable job as a banker with a large retail bank to sell life and health insurance. I can only tell you that I rarely ever cold call. I purchase internet leads and close about 36% of them. The company I purchase leads from has more leads available than I can handle and I actually have to limit the amount I get daily. I usually recieve about 1-2 leads a day which comes out to about 30-40 a month at 7.50 a lead (medicare Lead) thats about 300 bucks. Even if I had a bad month and only closed 25% thats 10 sales a month. If I sell a Plan F I make 482 in first year commission and a nine month advance on that. Not to mention for having 10 issued policies in a month I get a $1250 bonus. Tell me thats a bad investment!!! If I do call its only when the leads are slow like right now around the holidays and I do it from my couch watching CNN babble on all day about the same stuff they talked about in the morning.
My best recomendation is if your going to get into the medicare market do your research and know more than the other guys. Seniors like to feel comfortable with knowing they can trust your advice. I sell on premium stability, company stability, choosing a policy over a certificate and a strong presentation. Bring a ratings guide book with you if your company is highly rated because this goes along way. Tell them that it is the most important thing you are showing them and compare your company rating to others like Humana which is well known but also rated a C on weiss ratings. If your company is a B or an A it holds alot of wieght. Selling on price is not always the best thing for the customer. If you put a 65 yr old whos in open enrollment in bottom dollar med supp that has historically high premium increases you are doing them a disservice. If 5years down the line they develope a pre existing condition and there premiums have gone up 50-60 percent you will be hard pressed to get them in a more affordable plan after they go through underwritting. They might end up getting stuck in an advantage plan which 5 yrs from now could be a very poor choice.Wth all the turmoil surrounding thier excess capitation rates they will be little advantge to them once thier funding starts getting cut back.
Anyway thats my 2 cents...
I recently was in a similar situation to yours. I left a stable job as a banker with a large retail bank to sell life and health insurance. I can only tell you that I rarely ever cold call. I purchase internet leads and close about 36% of them. The company I purchase leads from has more leads available than I can handle and I actually have to limit the amount I get daily. I usually recieve about 1-2 leads a day which comes out to about 30-40 a month at 7.50 a lead (medicare Lead) thats about 300 bucks. Even if I had a bad month and only closed 25% thats 10 sales a month. If I sell a Plan F I make 482 in first year commission and a nine month advance on that. Not to mention for having 10 issued policies in a month I get a $1250 bonus. Tell me thats a bad investment!!! If I do call its only when the leads are slow like right now around the holidays and I do it from my couch watching CNN babble on all day about the same stuff they talked about in the morning.
My best recomendation is if your going to get into the medicare market do your research and know more than the other guys. Seniors like to feel comfortable with knowing they can trust your advice. I sell on premium stability, company stability, choosing a policy over a certificate and a strong presentation. Bring a ratings guide book with you if your company is highly rated because this goes along way. Tell them that it is the most important thing you are showing them and compare your company rating to others like Humana which is well known but also rated a C on weiss ratings. If your company is a B or an A it holds alot of wieght. Selling on price is not always the best thing for the customer. If you put a 65 yr old whos in open enrollment in bottom dollar med supp that has historically high premium increases you are doing them a disservice. If 5years down the line they develope a pre existing condition and there premiums have gone up 50-60 percent you will be hard pressed to get them in a more affordable plan after they go through underwritting. They might end up getting stuck in an advantage plan which 5 yrs from now could be a very poor choice.Wth all the turmoil surrounding thier excess capitation rates they will be little advantge to them once thier funding starts getting cut back.
Anyway thats my 2 cents...
