Life Agent Looking at Selling Health

Nov 1, 2015

  1. Greenweech
    Offline

    Greenweech New Member

    Posts:
    9
    Likes Received:
    1
    First of all, thanks to the guys on here that I have already spoken with.
    There are a few so far that have given me advice.

    I have a decent life insurance book that I have been working for many years.
    Moving to another state due to wifes job.

    Any life agents on here switch to health?
    Wondering if I just try to build more in new state or make the switch to health.

    Several on here are telling me its not a good time to go into health insurance as low comps and they are getting worse and that many on exchange have not paid or are very late.

    Cross selling seems like it may work here

    Any input is welcome
     
  2. somarco
    Offline

    somarco GA Medicare Expert

    Posts:
    29,786
    Likes Received:
    3,754
    State:
    Georgia
    You can sell life ins in any state by phone and make a good living. Stick with what you know and stay away from U65 health insurance.
     
    somarco, Nov 1, 2015
    #2
  3. Yagents
    Offline

    Yagents Guru

    Posts:
    10,529
    Likes Received:
    450
    State:
    Arizona
    After 10 years of selling health, the writing is on the wall that this may be the last
     
    Yagents, Nov 2, 2015
    #3
  4. SecureHealth1
    Offline

    SecureHealth1 Guru

    Posts:
    397
    Likes Received:
    2
    State:
    Florida
    Just google Obamacare and click on news, as Yagents said, its not looking good..
     
  5. Lakshmi
    Offline

    Lakshmi Super Genius

    Posts:
    177
    Likes Received:
    2
    State:
    Michigan
    My two cents:

    I started the transition from selling primarily health insurance to selling life insurance and supplements in 2010. Not a fun transition, but once it was done I was in a much better position financially.

    It was clear by March of 2010 that U65 individual health would tank. I still made a living until around 2012 with mostly health, but it just dwindled away to not worth it on it's own....First, World tanked, followed by American Community, Assurant, Madison, Health Plus etc. Then United Health cut the heck out of their commissions, and well, lets just say BC/BS never was a big money maker unless you are happy with 5%. So to make money, agents had to get creative or move on....

    That's how it went in Michigan anyway :-/

    With that said, there are other markets you can get into. Many of the agents I once worked with selling primarily health----well, All 40 plus of us moved on to life, disability, ancillaries (critical illness, accident, etc), or straight up senior market. Seems like most the people I Know focused on one or the other...there's a ton to learn with senior market, and more certs and what not. so that was not my thing. So, I chose to move to life, DI, CI, etc. and quite happily so...The best thing ever is less claim issues!!!! Believe it or not, all year this year, I had two claims issues...both life from the client dying. Wayyyyy easier than the old health claim headaches...sorry a little digression there.

    The ones who couldn't make the transition to one or the other either tanked and finally gave up OR found other employment.

    I do still do individual, but it's not my main focus...with open enrollment just starting it's a GREAT time to cross sell (did 4 already just today with CI, dental, vision). You make a little (depends on your contract) on the health, then I usually make about $100 of the dental, then another $200-600 average for the CI, and whatever else. It makes sense to me to do open enrollment and health BUT ONLY BC OF THE SUPPLEMENTS that you can add.

    Just saying and just my opinion, but this is how I do things with my one person shop. And for me it works great.

    Hope that helps a little.

    I also recommend short-term (and United Health) for those higher income people who absolutely refuse to do anything in Market Place, aka "Obamacare". Just add plenty of supplemental coverage to make sure they have enough coverage.

    You can also add dental and vision as another way to boost your income.

    But, health insurance by itself...that's not going to help your income a whole lot unless your writing a very large number of applications each and every week.

    ----------

    One more quick tidbit...

    By using health as a door opener, it's also a great way to sell the life.

    So it's not a bad thing to have the health in your briefcase. I've always continued to do that, just now it's not the main focus, whereas, pre Obamacare it was my first door opener. And during open enrollment it still is to a certain point.
     
    Lakshmi, Nov 2, 2015
    #5
  6. Yagents
    Offline

    Yagents Guru

    Posts:
    10,529
    Likes Received:
    450
    State:
    Arizona
    Health insurance is by far the best door opener........period.
    My job for 10 yrs was to give financial advisors/brokers....."sales ideas" to build their books. Who knew I'd fall into the best one.
    When you're dealing with the second highest cost line item, just behind a mortgage payment, it's easy to look like a hero. BTW, I became that hero by selling HSA plans before O' smoked pot.
     
    Yagents, Nov 3, 2015
    #6
  7. jlallgier
    Offline

    jlallgier Super Genius

    Posts:
    197
    Likes Received:
    14
    Also the average time to get appointed during OEP is 20+ business days.
     
  8. Chazm
    Offline

    Chazm Guru

    Posts:
    5,074
    Likes Received:
    1,199
    State:
    Florida
    Even though commission % is down, premiums are way up. I mostly do supps and mapd. A med supp pays $18/month per person and I do fine. The average individual health plan seems to be paying $30-40 month per person. I'd write both if I were u.
     
    Chazm, Nov 5, 2015
    #8
  9. dorado
    Offline

    dorado Super Genius

    Posts:
    203
    Likes Received:
    15
    State:
    Virginia
    How do you sell Life over the phone? What carriers?
    thanks
     
    dorado, Nov 7, 2015
    #9
  10. somarco
    Offline

    somarco GA Medicare Expert

    Posts:
    29,786
    Likes Received:
    3,754
    State:
    Georgia

    I don't. Several agents on the forum that do. Post your question in the life section. Someone will answer.

    They have plenty of time right now, just sitting around waiting on the phone to ring.

    Ca-ching.
     
    somarco, Nov 7, 2015
    #10
Loading...