Med Supp Presentation Outline

Aug 19, 2008

  1. mom2sean
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    mom2sean Expert

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    I'm hoping that you can help me.

    I'm having poor results telemarketing for FE. I was hoping that I could be FE only, but I'm just not getting to see enough people. My main excuse/explanation is with so many people on the DNC list, and the others being called constantly for every other product or service, mostly only lonely people (with no checking accounts) remain to be called.

    However, I think I'm going to have to use a different tack, so after reading through the posts in this forum, I'm going to start telemarketing for Med Supp tomorrow. I figure that FE is an optional purchase, where a Med Supp at least is needed by everyone.

    The part I'm unsure about is the sales presentation for Med Supp. Can you give me a hint on an outline for the Medicare Supp presentation. I am a soft sell and for FE I ask a lot of questions and adapt to what the client wants.

    I also started as an indy, therefore have no formal training or mentoring, other than this forum.

    I suspect Med Supp is more explanation and educational. By the time I go through Medicare and You and 2008 Choosing a Medigap policy - I figure I'll be there a couple of hours at least. I don't want to go too long.

    My outline draft looks like this:

    1. Questions about their concerns/worries, their health, anticipated needs
    2. Advantages of a Med Supp plan
    3. Which plan will meet their needs and wants
    4. Comparison of plans available (costs, plan history)
    5. Recommendation

    Any gold nuggets you can pass along will be treasured.
     
    mom2sean, Aug 19, 2008
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  2. Frank Stastny
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    Frank Stastny Guru

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    I believe you are going to have a very difficult time trying to sell Med Supps over the phone especially since you have virtually no knowledge of Medicare or a clear understanding of how it works.

    Most of the agents I know who work the senior market and are able to sell some Med Supps over the phone have spent hundreds of hours sitting at the kitchen table with prospects.

    If you really want to help your prospects as opposed to just making sales and commission, learn everything there is to know about Medicare first. Then make sure you throughly understand Med Supps and can answer any questions with accurate information you can backup.

    Once you have done all of that then begin looking at Part C of Medicare. Make sure you look beyond the huge commissions that have been being paid unless that is your main goal.

    Then and only then will you be able to effectively discuss those products with seniors.

    I work the senior market and there is no way I could have started selling supps over the phone and have achieved any degree of success.

    Working in the senior market is about building relationships and trust.

    Maybe you will be the first agent I have heard of who read the Medicare Guide book, picked up the phone and while sitting at home in their underwear and is selling 5 to 8 Med Supp policies each week.

    You do not have nearly enough knowledge yet to understand the answers to any of your questions nor how to apply them.

    If you do not do the above you will be just another dangerous agent working in the senior market leaving a huge mess for another agent to try to cleanup .

    Good luck.
     
  3. mom2sean
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    I apologize, I was not clear. What I was trying to say is that I'm going to start telephoning for appointments tomorrow - I guess I shouldn't have used telemarketing.

    I'm having enough trouble getting appointments on the phone, I wouldn't even think of trying to write an app on the phone.

    I'm glad I don't have to sell by email, I really would confuse the hell out of everyone.
     
    mom2sean, Aug 19, 2008
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  4. Bob_The_Insurance_Guy
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    Do not, and I repeat, do not, make your initial contact with a Medicare Beneficiary over the phone, cold.

    It is always best to get an introduction first - whether that be from the head librarian, a Financial Planner, a neighbor, your parents, etc.

    I agree with what was said earlier, and to add to that, you must be "seen" as a trusted Medicare adviser by these people. Then, and only then, will they refer you to their friends, family, neighbors.

    THAT is where you would begin to call, then make the appointment. NOT the other way around.

    Your intentions may be good; however, perception is what makes you, or what can break you.
     
  5. mom2sean
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    Bloody hell, now I am confused.

    I thought that the best prospecting tactic was to get a list of names and start calling. I think you can still do that for Med Supp, right?

    So I was going to start that tomorrow. Once I secure the appointment, then I needed input on how to keep the face-to-face presentation from being too long.

    If I can't call for Med Supp before establishing trust then I need to regroup.

    Thanks for your input....
     
    mom2sean, Aug 19, 2008
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  6. senior-advisor-indiana
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    You can telemarket for med supps. You can write tons of business that way and still get referrals.
     
  7. Frank Stastny
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    You were very clear.

    You are going to start calling seniors tomorrow to sell them Med Supp policies. You are doing your own "telemarketing".

    You were also very clear that you know nothing about Medicare or the products you will be selling. What part of that didn't you get from my first post?

    You are a dangerous person. You have a phone, an application and no knowledge.

    If you knew what you were doing and talking about you would not have to ask for help with your presentation.
     
  8. insurance0707
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    insurance0707 Guru

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    Hi Mom2Sean,

    A good and easy presentation would be the outline of coverage for the Medicare supplement provided by the insurance company. You start by showing them the chart of the standardized Medicare supplement plans. Let them know that all insurance companies now offer the same plans. Plan G with one company has the same benefits as Plan G with another company. The main difference is the premium that each company charges. You'd then go on to the outline of coverage where it shows the services that are covered, such as hospitalization, skilled nursing home care, medical expenses, foreign travel. The outline shows what Medicare Pays, What Plan G pays and then what the client would pay. If you're showing Plan C or Plan F you'd go over the outline for Plan C or Plan F. By showing them this information it lets them know what the gaps are in Medicare and how the Medicare supplement will pick up those gaps.

    Hopefully you're an independent agent, if so, let them know that. Tell them that you're licensed with the top carriers in your state and you'll let them know if any new plans come out or if the particular company your showing comes out with new plans, you'll let them know about it. (Hopefully you're licensed with quite a few companies that specialize in Medicare supplements). This is very important, because if you don't tell them about the new plans when they become available, another agent will.

    Also, use the brochure that the insurance company provideds. Go over the fact that the plan is guaranteed renewable, no waiting period for pre-x, etc. Any benefits that the brochure shows. These are the things you'll be leaving with the client.

    It really shouldn't take you two hours with a client, especially if you're just going over one or two medicare supplement plans. Try and keep it simple and easy to understand.

    I hope this helps. I remember when I first started out. I read from the brochures and outlines. It's a good start. Frank's right, you need to learn as much as possible, but we all need to start somewhere. This is how I started out 20 years ago and it worked for me quite well.
     
    Last edited: Aug 19, 2008
  9. insurance0707
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    What Medicare supplement company do you plan on using mainly?
     
  10. mom2sean
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    insurance0707, thanks for your kind words of advice. They are very much appreciated and taken to heart.
     
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