Marketing T65 Med Supps VS 68- 73 Med Sups

[SamIam]

All of my med supp business has been by referral only but it has not been a big part of my business. What is quicker to get clients turning 65 or the 68- 73 crowd. My concern for the older crowd is underwriting but on the other hand the turning 65 crowd bombarded with marketing and it would seems like it takes them forever to make a decision if you start marketing them 6 months out.

I do a lot of health and life now but if health flops like I think it will I would like a another recession proof product like health insurance was.

Just seeing what others who are successful take is. I have a extra $1500 a month I will use for my marketing budget.

 

[kgmom219]

All of my med supp business has been by referral only but it has not been a big part of my business. What is quicker to get clients turning 65 or the 68- 73 crowd. My concern for the older crowd is underwriting but on the other hand the turning 65 crowd bombarded with marketing and it would seems like it takes them forever to make a decision if you start marketing them 6 months out.

I do a lot of health and life now but if health flops like I think it will I would like a another recession proof product like health insurance was.

Just seeing what others who are successful take is. I have a extra $1500 a month I will use for my marketing budget.

I'm going to tack on another question....with Social Security now at 66, why do you start at age 68? Isn't there a natural market at 66?

 

[steveadlman]

All of my med supp business has been by referral only but it has not been a big part of my business. What is quicker to get clients turning 65 or the 68- 73 crowd. My concern for the older crowd is underwriting but on the other hand the turning 65 crowd bombarded with marketing and it would seems like it takes them forever to make a decision if you start marketing them 6 months out.

I do a lot of health and life now but if health flops like I think it will I would like a another recession proof product like health insurance was.

Just seeing what others who are successful take is. I have a extra $1500 a month I will use for my marketing budget.

Turning 65 and those already on Medicare are getting bombarded with phone calls and mailers. I like the turning 65 market but that does not mean it is a better market than the 68-73 market. Which one would you rather do because you will have plenty of competition no matter which market you choose.

 

[TDFnCali]

All of my med supp business has been by referral only but it has not been a big part of my business. What is quicker to get clients turning 65 or the 68- 73 crowd. My concern for the older crowd is underwriting but on the other hand the turning 65 crowd bombarded with marketing and it would seems like it takes them forever to make a decision if you start marketing them 6 months out.

I do a lot of health and life now but if health flops like I think it will I would like a another recession proof product like health insurance was.

Just seeing what others who are successful take is. I have a extra $1500 a month I will use for my marketing budget.

This reminds me of the "Whats the best plan?" question I get from seniors entering medicare. There is no "best" plan", and the same goes for the question about marketing to T65 or the older crowd. Each has it's pros/cons, it's what works best FOR YOU thats the best answer. I do both....you may wanna focus on T65 or older ppl.

Sounds like u already know they have their +/-'s so, just pick which fits your personality/marketing plan best & go for it. You can do both over the phone or F2F. For T65, Id mail 4-6mos out....for older crowd, Id buy tele leads.

Thats my 2 cents!

 

[somarco]

Frank Stastny would preach about working the 68 - 73 market and in his state, it made a lot of sense. MO has the anniversary rule (or maybe birthday rule) so an agent with a good system that can't make a sale today could come back and write the policy on a GI basis.

Underwriting is a big deterrent to the Medigap business but after someone has had cheap rates for a year or so they are ready to move in yr 3 - 5. Especially true if they bought a MOO plan with low entry rates then scalp them on renewal.

I can't tell you how many times I run into people who have had a plan for 3+ years and have been through multiple rate increases and would like to move but can't.

At one time I thought about getting a non-res license in MO but shifted focus to T65 here instead.

 

[thomasm]

Ages 68-79 is all about being a master of the Wedge concept.

Ages 66-67 require a different approach because either their still working or haven't seen their rates rise significantly yet.

And with T-65's you're dealing with lots of competition, so the earlier you can get them in your drip marketing system the better. My relationship building/marketing funnel goes back as far as 36 months.

 

[Glen Shelton]

Each has it's pros/cons, it's what works best FOR YOU thats the best answer.

^^^
That is a great answer - it really comes down to personal preference of the agent.

In my opinion (from a marketing standpoint) The 67+ age group is easier to market to. The T65 market is getting a lot more marketing $$$ spent on it.

To each their own.

 

[somarco]

Ages 68-79 is all about being a master of the Wedge concept.

I suppose it depends on how you find them.

All my prospects find me (because they are looking) or from referrals. No wedge involved.

 

[TDFnCali]

I suppose it depends on how you find them.

All my prospects find me (because they are looking) or from referrals. No wedge involved.

I dont even know what a wedge concept means....Ive heard of a wedge salad!

 

[goillini52]

I dont even know what a wedge concept means....Ive heard of a wedge salad!

I haven't heard of a wedge salad, but I've had and given "wedgies".