Med Supp Phone Sales
- Thread starter usakr
- Start date
- 4,746
Yep. My med supp sales are 50% in my office, the other 50% over the telephone. Once in a blue moon do I go to the clients house.
I sell virtually all of my med supps over the phone. Of course, I generally mail the paperwork to be signed and mailed back. If they are tech savvy I will do it online and then they receive an email to confirm and finalize.
I wrote 20 med supps in December and only met with one couple. The rest were over the phone and through the mail.
I wrote 20 med supps in December and only met with one couple. The rest were over the phone and through the mail.
- 15,319
It seems that most of my recent supplements are done on the phone and then I either email or mail the application. Family Life is very competitive here and I hope to simply do the application online.
Rick
Rick
Not sure if this was directed to me, but most of my cases are now being written with United of Omaha. From time to time the most competitive carrier changes and you need to be able to shift with those changes. As far as doing it online, Mutual of Omaha has an online enrollment process. I don't believe it's open to everyone, but I could be wrong.
I write in a few states, not just my resident state.
As far as leads go, currently I'm just working off of my existing book of business (I do life, under 65 health and investments as well) and referrals. If I were you, I wouldn't waste money on doing direct mail leads. They are useless. By the time you receive the reply card they have forgotten they sent it or already gotten their Med Supp. Some on this forum just by a list and start calling. If it works for you, it's the least expensive way to get a lead outside of a referral.
I write in a few states, not just my resident state.
As far as leads go, currently I'm just working off of my existing book of business (I do life, under 65 health and investments as well) and referrals. If I were you, I wouldn't waste money on doing direct mail leads. They are useless. By the time you receive the reply card they have forgotten they sent it or already gotten their Med Supp. Some on this forum just by a list and start calling. If it works for you, it's the least expensive way to get a lead outside of a referral.
- 1,311
Yes, that's all our group is doing. Either by using Mojo on a list or by (preferred) internet leads at $7 each, it's quite effective. I prefer dealing with people who are in the market NOW to make a CHANGE as opposed to spending hours prospecting. When cold calling, you're likely to find plenty of opportunities to find people that you can save money - substantial money - every month. Then the challenge is to motivate them to CHANGE from where they are comfortable. Even if there's a savings of $80 - $100 per month, seniors that are so inclined as to sit and rot in their chair as to make a change would rather keep what they have.
With the internet leads, with all of their faults (and many credits to get on bogus leads) still are the best value at $7 each. The ROI for the time invested just cannot be beat.
We use electronic applications and, with the internet leads, we're also dealing with people that are in the market, want to change, and have internet access for E-Apps. We use screen sharing, which really gives the a high level of comfort when providing the information necessary for the enrollment.
- Thread starter
- #8
What's the ratio of leads to a sale? How many apps do the agents average per week? Thanks in advance.
- 7,066
I have been very pleasantly surprised over the last three years at how receptive seniors are to purchasing Med Supps over the phone. Six to eight years ago I would never thought an agent could be successful doing that.
Every year I have seen the senior market changing and all the changes I have witnessed have been positive both for seniors and agents. Although I don't think seniors realize it, more and more of them are embracing the "underwear agent".
I still go on an occasional appointment if for no other reason than to get out of the office. I find the appointments enjoyable and relaxing although not nearly as cost effective. I think it will always be my preferred way to sell Med Supps but I love the ease of doing it over the phone. It gives me a lot more play time.
Every year I have seen the senior market changing and all the changes I have witnessed have been positive both for seniors and agents. Although I don't think seniors realize it, more and more of them are embracing the "underwear agent".
I still go on an occasional appointment if for no other reason than to get out of the office. I find the appointments enjoyable and relaxing although not nearly as cost effective. I think it will always be my preferred way to sell Med Supps but I love the ease of doing it over the phone. It gives me a lot more play time.
- 1,311
It varies widely from those working it part-time and those going at it full-time, of course. Typically it's taking 7 to 8 real leads to make a sale (after getting credits back for those bogus ones mixed in from affiliates online). "Average" agent is doing 6 to 8 a week.
