Medicare Supplement/Gap Vs Final Expense

[Gooner]

Ummmmm don't you drive that much now?

Yeah...it'd be what I drive now times 10

 

[sshafran]

I can see both points but dont think you wont be replaced on your medsupps too. There are "replacement artist" in every segment lol. So having a medsupp client 6 years is not definite, unless they get too sick to switch

True, there are "replacement artists."

True, It is NOT definite to have 6 yrs per client.

It's probably RARE to get 6 yrs, but in a good way.

If you do thing right (Send Out Cards, yearly check in, good CRM, quick call backs, etc.) then YOU will be replacing your own supps.

Start the clock again....

You should average more than 72 months.

Granted, I haven't even been licensed 72 months (almost!), but I anticipate that my commissions over my career will be way more that 6 yrs per client. I've already re-written so many clients.

Message me in 15 years and ask for the stats. I'll be 46 by then and will likely still have some of the same clients as I have today...but the checks will be bigger as their premium increases when we replace. Hopefully


It's kinda hard to replace your own fe... ie churning, etc. I guess you can add more on later...but I'd bet that an add on for an fe client is less frequent than replacing a med supp which you originally wrote...

Sent from my iPad using InsForums

 

[Glen Shelton]

Like I said it could be argued + or - That said, lets say for argumentative purposes it's 20% bump within 3 months. 80% sticks. But then we would all agree that the advertised 13 month persistency is 80%. 20% falls off. So you write 100 application in one month. Within 3 months 20 fall off, that leaves you with 80. Then another 16 fall off sometime from 3 months to 12 months. So 13 month + you have approx 64 clients left. You paid for the leads to write 100 (not 64) Average 12 month commission $550 (approx) $35,700 earned. 100 MS application in one month via MS 95% stick for 13 months + You paid for the leads to write 100. (lead cost for MS is about the same as FE) Average commission is $330 (approx) $31,500 earned. 2nd year FE commission = (assuming all 64 stick) $36 = $2,304 + first year difference = $3,504 2nd year MS commission = $31,500 With MS you can cross sell the f out of them. FE, LTC, Annuities, Part D. Referrals from MS is way way higher than FE. With FE you can cross sell almost nothing. Ya Ya I know my numbers for FE persistency doesn't line up with a recruiters numbers but I don't give a rats arse. Ya Ya Ya I know the 2 or 3 top producers numbers are a shade or so better, but your numbers don't help Plain Jane and Average Joe producer.

^^^ Yes, Yes, Yes!

It's nice to see people tell the truth on the forums!!!

 

[Gooner]

^^^ Yes, Yes, Yes! It's nice to see people tell the truth on the forums!!!

Going to try and not take that as a slight at my post...

 

[Glen Shelton]

Going to try and not take that as a slight at my post...

I'm just used to hearing marketers on and off the forums tell me 90%+ of everything they write stays on the books and it's BS! A truck load of BS.

I know some of the FE legends are in the 80% range.

Thad's numbers might be a little low ... BUT when he talks about numbers they are realistic not rosy.

 

[Buff Minorcan]

Like I said it could be argued + or -

That said, lets say for argumentative purposes it's 20% bump within 3 months. 80% sticks.

But then we would all agree that the advertised 13 month persistency is 80%.

20% falls off.

So you write 100 application in one month. Within 3 months 20 fall off, that leaves you with 80.

Then another 16 fall off sometime from 3 months to 12 months. So 13 month + you have approx 64 clients left.

You paid for the leads to write 100 (not 64)

Average 12 month commission $550 (approx) $35,700 earned.

100 MS application in one month via MS 95% stick for 13 months +

You paid for the leads to write 100. (lead cost for MS is about the same as FE)

Average commission is $330 (approx) $31,500 earned.

2nd year FE commission = (assuming all 64 stick) $36 = $2,304 + first year difference = $3,504

2nd year MS commission = $31,500


With MS you can cross sell the f out of them. FE, LTC, Annuities, Part D.
Referrals from MS is way way higher than FE.

With FE you can cross sell almost nothing.

Ya Ya I know my numbers for FE persistency doesn't line up with a recruiters numbers but I don't give a rats arse.

Ya Ya Ya I know the 2 or 3 top producers numbers are a shade or so better, but your numbers don't help Plain Jane and Average Joe producer.

Oh God you've made me question everything!

 

[John Galt]

But Thad can somebody in non telesales really even writing 3 Ms apps a week? We've already said persistency is very high so replacing is tough. That leaves assaulting the T-65 mkt to write yr round and that mkt is saturated to no end. So that being said I think building your book in the med sup mkt is a slow long process.For somebody young i'd definitely be looking at that mkt for a long career.

You can assault over 65 all year long too. Case in point, 3 of the 4 apps I wrote today had medsupps. I know, crazy, has never happened and one was paying $200 for a colonial penn medsupp, LOL. I had to make arrangements to re visit all these people. Im not sure what to do but I gotta at least refer a medsupp agent and work out some kind of deal with a local agent that is going to treat me right on bird dogs like these. All of these are lay down med supp sales. I just flat out ran out of time in the house and could not squeeze it in. And, the other 2 appts I had that did not buy FE had freaking medsupps too, crazy cray cray, never happened before. These leads were aged leads I had that I dropped myself a while back, the income filter was set higher...go figure

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Thanks for taking the time to chat with me, your tips and insight will definitely be put to use.

Awesome avatar young jedi. You have been FE knighted

 

[Buff Minorcan]

Awesome avatar young jedi. You have been FE knighted

You're just now noticing my Avatar?!?!?

 

[John Galt]

True med supps can be effective doing tele sales as persistency high. Fe telesales a disaster. Walked in a apartment today and the door handle was off. There was a caretaker on a computer when I walked in. The lady was in the back room bedridden. She was 5-3 460lbs insulin diabetic ,copd and heart problems. She insisted she wanted day one coverage. I told her to call Moo and walked out.There's some sick suckers out here.

Just write Gerber bro.

 

[Gooner]

I'm just used to hearing marketers on and off the forums tell me 90%+ of everything they write stays on the books and it's BS! A truck load of BS. I know some of the FE legends are in the 80% range. Thad's numbers might be a little low ... BUT when he talks about numbers they are realistic not rosy.

Marketers are mostly FOS, there might be 2 that post here that I would say are not.

I'm giving my numbers...I don't talk in hypotheticals...I talk about my experience. I really don't give 2 flying craps about any bodies else's experience because that doesn't pay my bills.

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You're just now noticing my Avatar?!?!?

I don't think he realizes you changed your screen name