Med Supp Phone Sales

[Frank Stastny]

"Regardless of what anyone says or claims any agent who is writing eight Med Supps a week, every week, 52 weeks a year and collecting a the thirteenth month renewal check from them is an "above top" agent."
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That agent probably is full of crap too!

You mean with all your years of experience and expertise that you aren't doing that? I have never known any agents who are doing that and are having the business stay on the books.

I guess these new agents, who have only been doing it for a few months, know one hell a lot more about it than agents who have been successfully selling Med Supps for years.

Wait, I may have to recant part of that statement because the two guys who claim that they and their agents are having that kind of success, Daytona_Guy and Liano, have all my training documents including my telephone presentation. Both of them have stated that they are brand new to Med Supps in the last several months as well as saying so are many of their agents.

Do I think both of them will acknowledge that they used my information? Probably not. Maybe they went to sleep one night and woke up the next morning "experts".

I guess we will find out.
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However, I would somewhat disagree with the whole, "written apps" issue. I rarely have a written app that isn't approved.

I totally agree with you, I can't remember the last time I submitted an app that wasn't approved.

I wasn't referring to apps being approved, I was commenting on the apps that are written only to have the new client get buyers remorse because of high pressure tactics and cancel within a short time after.

When I was captive we had an agent who turned in an unrealistic number of apps each week and later found out that over 65% of his apps canceled before the policies ever went in to effect.

 

[usakr]

O.K so it isn't possible to sell 6-8 medsupps over the phone per week? Why would only a handful of people be able to do that? If you have a good script and you internalize it, use voice inflection and pause at the right times and know your product selling over the phone is easy.

 

[Frank Stastny]

O.K so it isn't possible to sell 6-8 medsupps over the phone per week? Why would only a handful of people be able to do that? If you have a good script and you internalize it, use voice inflection and pause at the right times and know your product selling over the phone is easy.

No, I didn't say it would be impossible to sell eight a week, just highly improbable to sell that many week in and week out for fifty-two weeks straight and collect the thirteenth month renewal. That's what selling Med Supps is all about. Not the initial commission, it's the renewals.

I know the kind of discipline, dedication, hours of work and experience it takes to do that every week. I just have never known any agents who are writing five to six hundred thousand or more in annualized premium each year, every year and not getting a lot of cancellations.

I actually had one month where I wrote 68 apps, $80,000 in annualized premium, however, that was a very unique situation. I will probably never have the opportunity to do that again. They all stayed on the books, no cancellations.

You may very well be able to write eight or more a week every week. You sound well schooled in using the phone. If so my hat is off to you and you will have my undying admiration and respect and you will be making several hundred thousand dollars a year after a few years.

However, I think it will be difficult to do your first few months selling Med Supps. I may very well be wrong also.

 

[sman]

I see. I guess since I don't sell that way it's pretty foreign to me to have a policy not make it to the 13th month. I can honestly say in the last few years I've only had one cancel within the first year (it's was actually prior to issue) and that was because her job offered a group Med Supp (which was inferior) and they paid the premium for her. She was unaware of this at the time we did the application.

If you pressure folks, you can guarantee you won't get referrals. I don't get a ton of referrals, but I do get maybe 1 per week on average. And these are almost guaranteed to become a client. I figure once I double or triple the size of my book, I'll get 2-3 referrals per week. That doesn't happen by making people feel uncomfortable.

I totally agree with you, I can't remember the last time I submitted an app that wasn't approved.

I wasn't referring to apps being approved, I was commenting on the apps that are written only to have the new client get buyers remorse because of high pressure tactics and cancel within a short time after.

When I was captive we had an agent who turned in an unrealistic number of apps each week and later found out that over 65% of his apps canceled before the policies ever went in to effect.

 

[Frank Stastny]

I see. I guess since I don't sell that way...

Neither do I, that's probably why I am not consistently writing eight or more apps per week. However, the ones I do write stay with me for a very long time.

I strive to be more to a new client than just the guy who sold them the policy who's name they will most probably forget shortly after signing the app.

 

[sman]

Absolutely. I'm willing to bet there isn't a single client of mine who doesn't know my name and have my phone number and email address handy. And many of them I have never met face to face.

Neither do I, that's probably why I am not consistently writing eight or more apps per week. However, the ones I do write stay with me for a very long time.

I strive to be more to a new client than just the guy who sold them the policy who's name they will most probably forget shortly after signing the app.

 

[GreenSky]

You know- I am not usually a big advocate of online insurance leads, but insuranceleads.com has been working really well for me. I reluctantly signed up for their promotion of 20 FREE leads and they have surprised me with the results. The ROI has been surprisingly good.

Glad to hear they are working for someone. Only proves that even a broken clock is right twice a day.

Interesting that the link you have includes an agent ID. Could it be that you are simply spamming us? (I can answer that question).

Rick