Life Agent Looking at Selling Health

Greenweech

New Member
9
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
 
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.
 
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.
 
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.
 
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.
 
How do you sell Life over the phone? What carriers?
thanks


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.
 
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