Med Supp Knowledge

You may want to take some training modules online from some of the providers. Medicare is complicated and some things you will have to learn on the fly, but you'll need to understand guarantee issue periods first and foremost.
 
well, by your post, I can see why you aren't able to cross sell FE. You are already defeated :goofy:....

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When I cross sell anything, I add it all in one package.

I will at least try.

Before I show them any prices, I will often ask if they currently have any type of life insurance? If they say no, I ask questions to see if they are interested.

If they show some interest, I will ask "if something happens to you, who will be your beneficiary?"

I say, "I see, you would like Mary to have some money to take care of your funeral cost and other expenses. Is that correct Mrs. Jones?"

If she says yes.

Then I say, "Well, let me tell you what I can do for you. You are currently paying _____ a month for your Medicare Supplement and rather than spend all that money on just your health insurance, lets see if we can come up with a plan to combine the two at around the same price. If I could do this for you, would you be interested."

If they say yes, I show the combined price.

If they say no, I say "I completely understand. Lets just see if we can save you _____ a year on your Med Supp and, as an option for you, I will show you what a small life insurance policy will cost you."

Then, after some explanation, I let her choose which Med Supp she wants (the high deductible J, the complete J or the cheap, but complete, G).

After she chooses, I show her the FE prices and I say if you just want to start with a $5000 today, that would still be a significant help to Mary. Out of these three, $5k, $8k, $10k, which best fits into your budget Mrs. Jones."

If she picks one, you are golden. If she says she will wait on that, I tell her that I don't blame her and that I would do the same thing because I know living on a fixed budget is very difficult.

I pull out the Med Supp application and ask for her Medicare card and start filling out the application.
 
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"Originally posted by Jody...Well, by your post, I can see why you aren't able to cross sell FE. You are already defeated :goofy:...."

Far, far from defeated Jody. I have to be careful that I don't sell my own self an FE policy EVERYDAY! I constantly have to tell myself that "I'm not interested"! Yep, I'm that good at it!:yes:

Its just that unless I see otherwise, cross selling an FE from savings with seniors won't fly very much.:no:

Now, I'll really be embarrased someday, if I have to eat my words.....

You've got to me kidding me. Jeez pillpopper, do you really think about what you're about to say before you hit submit? You have seasoned vets telling you it happens and is a good way to help them and make money for yourself... but you say it won't fly. You know what... for you it won't because what you think and believe will be true in your world.

Good luck.

I think I found my next ignore candidate.:skeptical:
 
Man, did'nt know I was going to ruffle feathers.. Sorry 'bout that. I deleted the post. Hope that helps.

But I'm not a pillpopper by any means . It refers to completly something else.

Have agreat day!:)
 
If you haven't figured me out I can be a bit direct and sometimes a dick. I have a very low tolerance for those that won't study or that have negative whipped attitudes. This business, like life, will pay you what you demand of it and nothing more. You make yourself more valuable by personal and professional growth. One that says, "I want more" and is unwilling to do more... is a fool and deserves the stagnant existance he lives in.
 
well, by your post, I can see why you aren't able to cross sell FE. You are already defeated :goofy:....

----------------------------------------------

When I cross sell anything, I add it all in one package.

I will at least try.

Before I show them any prices, I will often ask if they currently have any type of life insurance? If they say no, I ask questions to see if they are interested.

If they show some interest, I will ask "if something happens to you, who will be your beneficiary?"

I say, "I see, you would like Mary to have some money to take care of your funeral cost and other expenses. Is that correct Mrs. Jones?"

If she says yes.

Then I say, "Well, let me tell you what I can do for you. You are currently paying _____ a month for your Medicare Supplement and rather than spend all that money on just your health insurance, lets see if we can come up with a plan to combine the two at around the same price. If I could do this for you, would you be interested."

If they say yes, I show the combined price.

If they say no, I say "I completely understand. Lets just see if we can save you _____ a year on your Med Supp and, as an option for you, I will show you what a small life insurance policy will cost you."

Then, after some explanation, I let her choose which Med Supp she wants (the high deductible J, the complete J or the cheap, but complete, G).

After she chooses, I show her the FE prices and I say if you just want to start with a $5000 today, that would still be a significant help to Mary. Out of these three, $5k, $8k, $10k, which best fits into your budget Mrs. Jones."

If she picks one, you are golden. If she says she will wait on that, I tell her that I don't blame her and that I would do the same thing because I know living on a fixed budget is very difficult.

I pull out the Med Supp application and ask for her Medicare card and start filling out the application.

Just my humble opinion but that entire process is way too lengthy. There are way too many places for her to lose interest, get distracted and confused.

I never, ever lay out several plans and then ask them to make a choice. I'm the "expert" not her. After educating her and listening to what she has to say, then she will realize that the Plan I am recommending for her is the best one.

My prospects look to me to recommend the Plan that is the best investment of their premium dollar. It doesn't make me look very professional when I convey to them that I don't know either.

By giving them a selection I am in essence telling them that I don't know which one is the best one. It seems like you might as well suggest to them that they simply flip a coin to decide.
 
Thanks Dwayne, but I wasn't looking for answers. I am well versed in the subject matter. I was simply letting the OP know that if you have a firm grasp on these items, you should have no problem selling Med Supps.

OOPS.. My post was actually directed at the original poster. Sorry
 
O.K. know that medicare covers only 80%, learn plans A-L and know the enrollment periods and I'm ready to go. Is that about right?
 
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Med Sup Plans M & N and Extinction of Plan J etc.

I've been searching the forum for awhile and did not find any posts about the new Plans M & N being introduced in July 2010 and Plan J (a popular one for Bankers and some other carriers) being phased out. Members will be "grandfathered" in to the phased out plans but no new pool of insured will be put into Plan J.

Question 1: are the agents here who do Med Sup planning to move their clients from Plan J to Plan F or G (or a similar coverage?) What are you telling people about Plan J? Do you advise them to consider changing plans in July to avoid a potential rate increase that may be large down the road because of no new pool of insured in that plan?

Question 2: How do you intend to market Plans M & N (sort of Med Sup Lite) in July and do you think it's a good move for some in Medicare Advantage plans?

Would it be wise to wait until Plans M & N are available before selling more expensive plans the first quarter?
 
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