Med sup agent needing next step

Jul 31, 2008

  1. bonscott
    Offline

    bonscott New Member

    Posts:
    15
    Likes Received:
    0
    Hello all, Bonscott in Michigan here, got appointed in Dec 2007 with multiple companies in med sups. I do not sell med advantage period.(Watered down Medicare) I have enrolled 80 clients in last six months, I know I am leaving a ton of money on the table, yes I am new to this industry. I believe in what is right for the client will all came back to me. I do NOT have a system yet to capture more business from existing clients let alone new ones. Looking for new ideas from more experinced agents in this field. Your feedback will be deeply appreciated

    BONSCOTT..nanu...nanu..
     
    bonscott, Jul 31, 2008
    #1
  2. Kimber
    Offline

    Kimber Super Genius

    Posts:
    101
    Likes Received:
    0
    I can say that if you sell 1 policy to a client, you are that nice person they met once, but if you can place 2 in a house you become their Insurance agent in their minds and you will begin to get referrals. I would consider trying to promote a Final Expense product. Many of them are simple issue and very inexpensive, but they address a need and will be beneficial to your clients.
     
    Kimber, Aug 1, 2008
    #2
  3. Winter_123
    Offline

    Winter_123 Guru

    Posts:
    2,908
    Likes Received:
    15
    How are you marketing/prospecting for the med supps?

    Winter
     
  4. Frank Stastny
    Offline

    Frank Stastny Guru

    Posts:
    7,069
    Likes Received:
    19
    State:
    Florida
    I applaud you for selling Med Supps. I feel the same way about the MA plans, specifically the PFFS plans.

    Can you be more specific about what you are looking for and let us know what you are doing now in the way of prospecting and your plans to retain the clients you currently have.
     
  5. Frank Stastny
    Offline

    Frank Stastny Guru

    Posts:
    7,069
    Likes Received:
    19
    State:
    Florida
    I'm sorry but I have to totally disagree with you.

    I would venture to say that the majority of my clients have lost their spouse and are living alone. There is only one person in the house.

    I can guarantee that to them I am their insurance agent not just another "nice person".

    I believe what makes the difference between someone who sold them a policy and the person who is their "agent" is how you treat them after the sale.

    It doesn't matter how many policies the person has with an agent, if they never hear from that agent again they will not be very loyal. However, if the agent stays in regular contact with them they will not only think of the person who sold them the policy as "their agent" but a friend they can trust as well.

    In that respect my clients are more like "friends" than just a person who has purchased a policy with me.

    I never ask for referrals except for a short PS at the bottom of the letters I send them. A large percentage of my Med Supp business is through referrals.

    I'm even beginning to get the children of some of my Med Supp clients that I wrote in the mid '90.s. Guess that makes me a second generation agent!

    I have single clients who have had insurance with me for over 10 years. With many of them, the only policy they have with me is a Med Supp.

    I believe it is a myth fostered by insurance companies and managers that the more policies a client has with an agent the more loyal that client is going to be to the agent.

    I don't think the number of policies the agent has with a client has anything to do with the persistency of those policies.

    What makes a person "their agent" is quality service and frequent contact with the client.
     
  6. The Rabbi
    Offline

    The Rabbi Guru

    Posts:
    1,070
    Likes Received:
    4
    Frank, you need to take a break. You disagreed about a suggestion that will help and then contradicted yourself.

    If an agent has sold multiple policies, wouldn't that automatically assume that the agent has kept in touch???
     
  7. arnguy
    Offline

    arnguy Guru

    Posts:
    7,786
    Likes Received:
    15
    State:
    Pennsylvania
    Hey, Rabbi. It's Friday and Frank is probably getting an early start on the Tequila!:swoon:
     
    arnguy, Aug 1, 2008
    #7
  8. Frank Stastny
    Offline

    Frank Stastny Guru

    Posts:
    7,069
    Likes Received:
    19
    State:
    Florida
    I can see where you might think that. I was assuming that the agent wrote one or two additional policies at the time or close to the time of writing of the first one.

    A lot of my clients who do have multiple policies took them in the first 6 to 18 months of my first visit with them. Some of them took both a Med Supp and LTCi and or final expense on my initial visit.

    I have many clients who have had their insurance with me for over ten years. Let's assume they took those policies within the first twelve months of becoming my client and lets say that was ten years ago. That is a long time not to contact a client and expect them to remain loyal to me.

    There are only three policies I will sell a senior. Med Supp, LTCi and final expense. Any agent who is selling them anything more, in my opinion, is strictly doing it for the commission.

    I let them know I have them available and encourage them to consider taking them out while they are still healthy enough to get the LTCi through underwriting. That usually isn't two, three or five years later.

    I appreciate you "keeping me on my toes".

    That's my story and I'm sticking to it. Now, where did you say the Tequila was?
     
  9. rapidrobert
    Offline

    rapidrobert Guru

    Posts:
    301
    Likes Received:
    0
    Man Frank that "Tukillya" will mess with you. Why not switch to some red wine; that way you will "live long and prosper." Nanu- nanu!

    Oh btw I agree, its the relationship and the genuine care you show and not the number of apps you write. Although, the one may indicate the other it doesn't "necessarily" do so!
     
  10. Frank Stastny
    Offline

    Frank Stastny Guru

    Posts:
    7,069
    Likes Received:
    19
    State:
    Florida
    I really don't care for "Tukillya" and very seldom drink it.

    Red wind is what Jacqueline and I usually drink.
     
Loading...