Putting a producer to work selling med sups soon and I'm wondering if any of you are using a reliable lead source for this type of business ? His target will be med supps and misc. final expense stuff. We are licensed with New Era Life and Mutual of Omaha here in Pa but if you know of any other good markets, I'm all ears.
Med Sup leads ?
- Thread starter 1manshow
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yourleadsnetwork
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William, William, William... your first three posts are all about promoting your business. Go and read the rules of the forum and look up the Offers thread.
- 7,066
I have found that the best Med Supp leads are the ones I generate myself. Selling Med Supps is unlike selling any other kind of insurance.
Everyone on Medicare believes/knows that just having Medicare isn't enough. They know are going to need something that fills the gaps left by Medicare. Those gaps keep increasing each year as Medicare deductibles continue to climb.
Everyone 65 and over is a prospect and potential client. However, those living in rural areas, beyond the reach of HMO's, make much better prospects. It can be very discouraging and time consuming trying to market Med Supps in large metro areas where HMO's have gained a strong foothold. For the most part people in rural areas are also much more receptive to talking to an agent.
Over the years I have tried just about everyway conceivable to market Med Supps. I have purchased direct mail leads, internet leads, telemarketed leads, run ads in newspapers, put on seminars, attended senior expos as an exhibitor and nothing has been as effective and doing my own telemarketing.
Direct mail leads are nothing more than a name address and phone number of someone who was curious. Internet leads use to be fairly effective but today don't seem much better than direct mail leads. Telemarked leads are way too expensive for what they are. No one, but no one can represent me better over the phone than I can represent myself.
Of all the methods I have tried, purchasing a list of people between the ages of 67 - 78 and calling them has been hands down been the most effective and productive. My telephone "script" is very short and smooth. It gets right to the point in a very non-threatening way and gleans the single most important piece of information the agent needs to know about that prospect.
Regarding the companies you are licensed with, I am not familiar with the PA market but you may want to do some more research and add some additional options. I have just added a new company to the list of companies I represent that has the best premiums in certain zip codes in Missouri. I was also able to secure a 23% contract with them. The highest rate of commission of any company I represent.
Everyone on Medicare believes/knows that just having Medicare isn't enough. They know are going to need something that fills the gaps left by Medicare. Those gaps keep increasing each year as Medicare deductibles continue to climb.
Everyone 65 and over is a prospect and potential client. However, those living in rural areas, beyond the reach of HMO's, make much better prospects. It can be very discouraging and time consuming trying to market Med Supps in large metro areas where HMO's have gained a strong foothold. For the most part people in rural areas are also much more receptive to talking to an agent.
Over the years I have tried just about everyway conceivable to market Med Supps. I have purchased direct mail leads, internet leads, telemarketed leads, run ads in newspapers, put on seminars, attended senior expos as an exhibitor and nothing has been as effective and doing my own telemarketing.
Direct mail leads are nothing more than a name address and phone number of someone who was curious. Internet leads use to be fairly effective but today don't seem much better than direct mail leads. Telemarked leads are way too expensive for what they are. No one, but no one can represent me better over the phone than I can represent myself.
Of all the methods I have tried, purchasing a list of people between the ages of 67 - 78 and calling them has been hands down been the most effective and productive. My telephone "script" is very short and smooth. It gets right to the point in a very non-threatening way and gleans the single most important piece of information the agent needs to know about that prospect.
Regarding the companies you are licensed with, I am not familiar with the PA market but you may want to do some more research and add some additional options. I have just added a new company to the list of companies I represent that has the best premiums in certain zip codes in Missouri. I was also able to secure a 23% contract with them. The highest rate of commission of any company I represent.
- 7,066
I really don't have a "script" as such. That is why I put the word "script" in quotes. What I do have is a specific way of starting the phone conversation. The first few seconds are usually all the same. What I say after that depends on the prospects reaction.
What I say in the first few seconds is important but equally important is the timing with which I say it. Using the proper timing in the way it is said will determine the success or failure of the call.
It is something that is much better talked about than put in an e-mail or explained here. If you are interested give me a call at 573.642.8338.
- 168
MostChoice.com, but then again, I am a little biased. I can't tell you off the top of my head if those carriers have been locked up in your area, but you can fill out our insurance leads form and we will check it out for you. We do offer a carrier exclusive on up to 2 carriers, sometimes 3, for an agent in a territory for med supp.
- 11,997
Depending on who your FMO is they will often have lead systems available. I would try to find one that will give you options but not reduce the commission much because puts you in control. If you're looking for some Quality FMO's I would suggest either Integrated Benefits or Senior Market Sales. SMS can get you a really good commission on Mutual of Omaha.
On an irrelevant aside, I'm going to PA this weekend to visit my in-laws, you live in a nice state!
On an irrelevant aside, I'm going to PA this weekend to visit my in-laws, you live in a nice state!
Monti_Ray
Expert
- 91
Discloser: I work for a lead company.
Good lead sources are rarely shared by agents. Well known or brand lead vendors are good if they treat you like a partner not just a customer. Use different search engines like Google, MSN, AAfter, Dogpile to look for lead companies ranked 15 to 50, and call them, get a feeling if they respect you as a partner. Lead buying is not buying stuff from Walmart or Target. It is the search for a partner almost like dating.
Once you find lead companies with no or low setup fee and no long term contract, then try 20-30 leads.
Regards,
Monti Ray
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