Medicare Supplement/Gap Vs Final Expense

[Glen Shelton]

You make $1,500-$2,400 per sale doing FE? Actually that's only for 9 months so I guess you are making way more than that?...

Yeah this doesn't make sense.

6 years of Med Sup > 12 Months of FE

 

[SPUR CITY]

I'm in North Florida (Jacksonville area). Not aware of anyone to ride with unless I trekked down to South Florida and Doug was willing. My understanding of the Med Supp market in Florida is I'd be much better off making the drive into Georgia. That's not far at all so I don't mind. ---------- This is why I was legit sad by the lack of SPUR videos

I have a guy on the squad that was the #1 producer for SNL last week with $6,700 and just wrote 4K today. He is in Orlando, Florida and I can ask him if he's willing to let you ride with him.


He's only been in the business for about 6 months but his foundation is strong and is doing pretty good.

 

[Buff Minorcan]

I have a guy on the squad that was the #1 producer for SNL last week with $6,700 and just wrote 4K today. He is in Orlando, Florida and I can ask him if he's willing to let you ride with him.


He's only been in the business for about 6 months but his foundation is strong and is doing pretty good.

Wow SPUR that's a generous offer. Yeah let me know if that's a possibility, I'd be a fool not to take advantage of that.

Thanks!

 

[SPUR CITY]

Wow SPUR that's a generous offer. Yeah let me know if that's a possibility, I'd be a fool not to take advantage of that. Thanks!

No problem I'll call him and see


But driving down to ride with Doug as well, if he is willing, is definitely a smart thing to do in my opinion

 

[Buff Minorcan]

No problem I'll call him and see


But driving down to ride with Doug as well, if he is willing, is definitely a smart thing to do in my opinion

True, but Orlando is super close so it's not a big thing at all to head down there early morning, ride along, be home by 9PM or so.

I think Doug is a good 4+ hours. Of course it's worth the drive, just saying.

 

[Gooner]

After going thru my first batch of FE DM leads I'm already contemplating the switch. I know I'm a rookie but I was surprised to see so much they say about the FE market is true. Like.......it's a cat piss palooza. I know I've lost sales because I'm not an experienced agent, I get that. But it really is tough to leave the house and head to 8 appointments and so much is a waste of time. The people that really want to see me are wheelchair bound oxygen tank 20+ prescription taking individuals that are just desperate for coverage I can't get them. Then you got the no shows. I think a weak spot for me is people who already have coverage at a rate they got years ago and I see the situation as a lost cause. I show them my rates and they are like "Well I already have 10k thru *insert company* for this rate. I don't really NEED more coverage but if you had a rate to match it maybe I'd consider it." I have a feeling there is a sale to be made there in that example but I'm a little too new to know exactly how to convert it. But regardless of all that, pretending leads were only $10 and I've fine tuned my presentation.......I don't know if I would want to keep this up with this type of clientele. You can almost smell the chargeback mixed in with the cat piss. I really debated FE or Med Supps months back when I decided to make this investment and now I'm leaning towards Med Supps. But then again maybe this is all just growing pains of a new agent. Maybe with more time and my own self improvement I'll have a different opinion in the coming months. Right now I have 100 fresh DM leads I gotta work so wish me luck haha.

Man. I had a great response typed out then I got a phone call and the message got kicked out. I pm'ed you my number. Give me a ring if you want my take.

 

[somarco]

Lior didn't know how much the part b deductible was a year ago.

Is that a trick question?

A year ago the Part B deductible was the same as it is this year.

$104.90 a month, right?

 

[John Galt]

Yeah this doesn't make sense.

6 years of Med Sup > 12 Months of FE

Do the math, per policy, $1200 to $1500 ap policies are not rare in fe, at $250 to $300 year on a medsupp is close. Is that remedial enough for you?

 

[GreenSky]

If we want to talk large FE premiums then let's use large Med Supp premiums as well.

The average FE premium is more like $600-800 so perhaps $1,000 commission. Most supps will pay close at least $2,000 over 6 years.

I've received $400+ per year on supps which is more like $2,500 commission.

There is no doubt that if you look at the total commission supps pay better than FE on average. And a number of my carriers pay forever. I'm still getting $300/yr on policies written 10+ years ago.

I just did the math. Is that remedial enough for you?

Rick

 

[Glen Shelton]

Do the math, per policy, $1200 to $1500 ap policies are not rare in fe, at $250 to $300 year on a medsupp is close. Is that remedial enough for you?

Is some situations it might be close, but I believe a Medicare supplement will almost always be more after paying out for 6 years.

----------

If we want to talk large FE premiums then let's use large Med Supp premiums as well. The average FE premium is more like $600-800 so perhaps $1,000 commission. Most supps will pay close at least $2,000 over 6 years. I've received $400+ per year on supps which is more like $2,500 commission. There is no doubt that if you look at the total commission supps pay better than FE on average. And a number of my carriers pay forever. I'm still getting $300/yr on policies written 10+ years ago. I just did the math. Is that remedial enough for you? Rick

^^
That's more along the lines of the math I was doing.