Medicare Advantage Broker Referral Programs

[michellea]

AV = Annualized Volume

It sounds like you have a nice tag-team approach to conducting business. Are those commissions competitive with what he could get outside of those two companies?

I am not sure if those commissions are competitive. I started in January and would work only a week out of the month making calls and he has only been licensed for 2 months.

We thought things were good with me getting paid $100 and him on the tier system and just within the last month have we got involved with the company paying me $250 and him $420. I am able to do for both companies but him being out in the field can only have a contract with one company, so he is in the middle of switching right now. We are just waiting on all of the paperwork to go through. So who knows there may be different commissions for other companies. All I know is from what is offered in our area.

 

[michellea]

Hey Frank, whenever somebody says that got horses that can run, I'll stand by and yell "giddyup", but that don't necessarily mean I'll be sitting in the saddle.

Michellea,
Sounds like you two have a nice deal going on.
The PFFS 1 and 2 don't look too bad, but I don't think I would chose to write more than 1 or 2 per month.

But if you get tired of dialing for HMO's, hang a sign to set supplement appointments and we'll find you plenty to do.

Ha ha, yea that is what I hope to gradually move into at some point. Yea we have 2 new car payments to make so I got to work those MA's, but I also do see the big picture and know that we can't sell MA's forever.

I am guessing there are not any programs where you get paid so much for each appointment you set that closes in the med. supp. area. If I am wrong let me know and we might all have one happy insurance marriage as Frank says, haha!!

 

[Frank Stastny]

I am successful in getting clients by being honest with them and I take the time to explain to them how everything works. I break it down for them to where they can understand it and I may have to say it 12 times. My fiance and I take pride in that we are not the type of people who just switch over anyone for no reason and we are still able to close enough to pay our bills.

And No he is not going after final expense at this time. I had never heard about final expense until I found this site. So if you have any suggestions on that end, feel free to fill us in!!!

THANKS FOR EVERYTHING!!!!

You and he are off to a great start. With that attitude the two of you will be very successful selling insurance. It sounds like both of you are doing everything just right.

Although I sell some final expense, my area of expertise is Med Supps. If you need any help in that area give me a call.

I know there are agents here who know a lot more about final expense than I do. I'm sure some of them will be more than willing to help you get started.

You may want to start a separate thread, New to Final Expense, Need Help. That should bring them out of the wood work. haha

 

[Frank Stastny]

I am guessing there are not any programs where you get paid so much for each appointment you set that closes in the med. supp. area. If I am wrong let me know and we might all have one happy insurance marriage as Frank says, haha!!

I set my own appointments so I guess you could say that I get "paid so much for each appointment" set that closes. haha

You are right, there are none that I am aware of that pay you that kind of money just for getting the appointment. Some telemarketers get paid a few dollars by the agent when an appointment closes.

Prospecting/setting appointments is the most difficult part of selling insurance. I would say I spend 75% of my time prospecting, calling on the phone, and 25% of my time selling.

If you are that good on the phone, it sounds like you are awesome on the phone, then you could set Med Supp appointments and let your fiance go see the prospect and close the sale. There are tons of threads on this board alone where agents are looking for someone good to set appoints for them.

Neither of you are going to make the kind of up front money you are making now though if you start selling Med Supps, especially you. His average commission is probably going to be around $25 per month for each policy written and issued. (Many companies will pay a 9 - 12 month advance.) However, he will receive that amount for several years if they keep the policy.

He would be the one paying you for each appointment that he closes, not the company, as well as so much per hour while you are making calls. I would think he should pay you his first months commission for each one he closes. That seems fair to me.

He is the one who will be "making the big bucks" so maybe you should wait until you are married to start on Med Supps. hahaha

 

[Newby]

After reading all the posts in this thread I gather that one of the things that gives you great success on the phone is you are not rushing them to get off the call and move on to the next call. It sounds like you let them talk and warm up to you. Great work!

Do you call from scrubbed lists (the Do Not Call List) or what type of lists are you calling from?

 

[michellea]

Prospecting/setting appointments is the most difficult part of selling insurance. I would say I spend 75% of my time prospecting, calling on the phone, and 25% of my time selling.

Neither of you are going to make the kind of up front money you are making now though if you start selling Med Supps, especially you. His average commission is probably going to be around $25 per month for each policy written and issued. (Many companies will pay a 9 - 12 month advance.) However, he will receive that amount for several years if they keep the policy.

I spend endless hours on the computer doing research on the demographics of the counties and the plans that are available so that I know what I am talking about when I am on the phone and you are soooo correct in the amount of time it takes.

Thanks for the offer for me to call, I will probably take you up on that whenever we start to look into branching out of the MA Plans. Everyone has helped me so much on this board!

 

[michellea]

After reading all the posts in this thread I gather that one of the things that gives you great success on the phone is you are not rushing them to get off the call and move on to the next call. It sounds like you let them talk and warm up to you. Great work!

Do you call from scrubbed lists (the Do Not Call List) or what type of lists are you calling from?

Thanks very much!

I get my lists from multiple places. I have never paid for any lists! Some of the agents have given me lists that they have bought. I have a ton of leads that I was given that someone got off of intelius before they changed the setup of their site. I do reverse address searches for the elderly subsidized housing buildings in my area. I also got a free trial for ancestry.com and found a public database on that site and got all listings for people 64 yrs. old and up. So I have lists from everywhere. If someone offers me leads I take them.

 

[larymes]

Does anybody know where I can find a list of different brokerage companies? I'm trying to find people who would like to sign people up for a product ON TOP of the MA plans they are saling to double their commissions.

 

[Tina]

What's the product? What company is selling it? In another thread where you posted this you said there was no licensing or certification needed, which is a red flag to me. Is there a company website? Is the "product" even worth all the hoops that would need to be jumped through for cross-selling 48 hours later?

 

[jdeasy]

What's the product? What company is selling it? In another thread where you posted this you said there was no licensing or certification needed, which is a red flag to me. Is there a company website? Is the "product" even worth all the hoops that would need to be jumped through for cross-selling 48 hours later?

It sounds like the AK. You would have to wait 48 hours to sell that snake oil. Or, if could be an indemity policy to pay the co-pays, still, that would require a 48 hour wait to present.

People trying to get around the rules are what caused the rules in the first place.