Hello everyone, This is my first post although I have read a few of your comments. I received my license a couple of months ago and have been contracted with Aflac. Yes I've read that Aflac is not so popular here. However, I have been fairly sucessful and am trying to do a good job for my clients. It doesn't take long to realize that there is a great need for more than just supplemental insurance out there and wondered if any of you more experienced agents would have advice that would help. Specifically, how do I go about offering a more complete line. I'm thinking in addition to Aflac when it is needed. Thanks in advance.
Jeanie2 says hello
- Thread starter Jeanie2
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A lot depends on where you are located, what licenses you have, how much money you have etc...
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Everyone needs more life insurance. You need to get into the families. Maybe some Final Expense for parents or life ins for newborns.
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I'm located in middle Tn, haven't lived here very long so I don't know a lot of people. I'm licensed in Life, Accident and Health. Money? I don't have a lot and don't like going into debt. Are you thinking office expenses money or living expenses till I'm on my feet?
Thanks Rabbi, I always like working with families.
Thanks Rabbi, I always like working with families.
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You need to do a 180 degree on your approach here. Aflac, good or bad, is the filler, the extra, the perq benefit to supplement the REAL needs.
Start from that perspective (may be tough as you are probably taught to see things from the Aflac perspective).
Gap coverage is great, but you need the high deductible PPO plan first. Cancer cash payment is nice, but they need the major medical to cover the huge bill. AD&D is great if they die the right (or wrong) way, but a real life insurance policy that pays no matter how they die might be a bit more important.
If you are trying to work only with the filler, it can be a struggle. If you supply the base and then offer the filler, you might do two sales and make the client happy. More importantly you've covered the serious need, not the fluffy one.
There was a guy here sometime back called Hodoka or some crap that alway mentioned (besides "Sisacell" which apparenly only AFLAC can cure) that Aflac was the largest provider of 125 plans out there. Now let me ask you this:
If a person is lying in a hospital bed and the bill is up around $550,000 and climbing, are they really thinking about how lucky they were to have that 125 plan or $5000 cancer rider plan, or do you think they might be more worried how the bill is going to be paid under major medical?
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I see what you're saying Dave, however I do run into lots of people with M/M already and they seem to like the "fluff" I also see lots without the M/M and they always seem to be the poor single parent, low income types that need more than I have. THAT'S why I need to branch out.
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Bread, meet butter.
Compare the current health coverage against the competition see if you can set up a better plan for less premium, maybe an HSA if utilization warrants. You can't do that because you don't sell major medical so you just assume they have adequate coverage, it could be MEGA for gosh sakes! You are not helping them by letting them continue on bad MM coverage.
Place low incomes into state programs and get referrals to others who can buy regular products. People you help onto Medicaid and state programs usually give referrals because they are happy you helped them...at least I get them and a lot of them.
What about life insurance? Can they swing $9 a month for some convertable term life insurance that is not AD&D so the kids can eat and go to college?
What about dental coverage? A nice dental plan with a good carrier for $8 a month to get healthy teeth? Maybe includes ortho for the kids?
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Here is a classic that applies to California and likely other states as well. Carriers are beginning to or are enforcing a no HRA/no "wrap" rule with small group HSA plans. In CA all carriers specifically prohibit wrapping and HRAs on HSA plans for small groups, meaning that any product purchased by the employer that could fund any monies under the deductible (save the employer actually funding an employee's HSA) will cause at least one of two things to happen:
1 - carrier will terminate the group contract and drop the employer's health coverage
2 - carrier will cease paying any group health commissions to the agent if they allow the group to continue.
So, at least in CA, if one of your Aflac agents goes in and sells a gap plan unbeknownst to the health agent, and the carrier finds out, the health agent gets totally screwed thanks to the Aflac agent. And the employer may be screwed as well since the gap plan represents a "wrap" and is strictly prohibited.
1 - carrier will terminate the group contract and drop the employer's health coverage
2 - carrier will cease paying any group health commissions to the agent if they allow the group to continue.
So, at least in CA, if one of your Aflac agents goes in and sells a gap plan unbeknownst to the health agent, and the carrier finds out, the health agent gets totally screwed thanks to the Aflac agent. And the employer may be screwed as well since the gap plan represents a "wrap" and is strictly prohibited.
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Thanks Dave, This is something I've never heard before so will need to see if it applies to TN.
