Medicare Supplement Telemarketing Script

[Thesenioradvocate]

I know that this is an old thread. I thought you gentlemen may be able you help me out with some advice.

I am new to telesales of Medicare supplements. I have the call list and have been told to expect a return of anywhere from less than 1% to upwards of 20%( I believe neither). Just curious what a decent rep average close % would be( roughly). Anyone have any idea?

Thanks,

Sradvocate

 

[sman]

I know that this is an old thread. I thought you gentlemen may be able you help me out with some advice.

I am new to telesales of Medicare supplements. I have the call list and have been told to expect a return of anywhere from less than 1% to upwards of 20%( I believe neither). Just curious what a decent rep average close % would be( roughly). Anyone have any idea?

Thanks,

Sradvocate

It will depend on a few factors. Are you calling just off of a turning 65 type list? If so, returns will be on the lower end. Are you calling people who have expressed interest in talking to you about a Med Supp? If so, returns will be better. But even then it will depend on how good you are at engaging the person in conversation and converting that to a sale.

Years ago I was able to buy some internet leads that were great. I was closing about 40% of them for a short period of time. But then the place providing the leads changed the way they were getting them and then it dropped to about 10%.

I've never called just off of a list of names and numbers so if that's what you're doing I can't help you one bit. But there are some on here who do that so hopefully they will chime in.

 

[GreenSky]

I've been using my own telemarketer for about 14 months now. The script itself isn't rocket surgery.

Rick

 

[Thesenioradvocate]

This is straight telemarketing. Updated recently call list. Ages 67-79. Income 12k+. Sales to be closed over the phone. Hope this helps and thanks for your reply.

 

[JimmyUt]

This is straight telemarketing. Updated recently call list. Ages 67-79. Income 12k+. Sales to be closed over the phone. Hope this helps and thanks for your reply.

When I used a telemarketer, she would generate 2 leads per hour and I would close 2 out of 10 on average. You can't control someones health or their cognitive ability when it comes to answering questions. As Rick said, it isn't rocket surgery, and is simple as long as you are conversational. Most folks like to save money.

 

[Thesenioradvocate]

So, I meant to like all the responses and thank you all for taking the time to respond.

Would any of you be willing to recommend a telemarketer or do you think it would be cheaper/better to find one local?

 

[Abraxas]

So, I meant to like all the responses and thank you all for taking the time to respond.

Would any of you be willing to recommend a telemarketer or do you think it would be cheaper/better to find one local?

Chris offers prepackaged telemarketers at trainedtelemarketers.com. It costs $1,000 to start them but they are supposed to be fully trained with a good script. You can also go on onlinejobs.ph and hire your own telemarketer for around $3-$4/hr. Alternatively, if you know someone who is good on the phone and a native English speaker, let them use your predictive dialer to cold call and then split commissions with them (20% or so) with a minimum guarantee. It will cost you more but won't cost you anything up front. If you don't make sales, you don't owe them money.

 

[rousemark]

Chris offers prepackaged telemarketers at trainedtelemarketers.com. It costs $1,000 to start them but they are supposed to be fully trained with a good script. You can also go on onlinejobs.ph and hire your own telemarketer for around $3-$4/hr. Alternatively, if you know someone who is good on the phone and a native English speaker, let them use your predictive dialer to cold call and then split commissions with them (20% or so) with a minimum guarantee. It will cost you more but won't cost you anything up front. If you don't make sales, you don't owe them money.

In many jurisdictions, it is illegal to split commissions if the other person is not licensed.

 

[MosesNewmanNAAIP]

A great sales script for Medicare supplement - I wrote it - Click here to see original with coloring to indicate roles.

Medicare Supplement Phone Selling Script for Setting One Call Appointments or Two Call Closes

(Your script will be in Red letters, Client's will be Blue with italics and quotes - special notes to you are in green and in parentheses)

This is standard script to cold call potential Medicare supplement prospects. The following is the cold call for those who are turning 65 in the next 3 months. Your ideal Medicare supplement prospect will be above average income.

Hello, Mr./Mrs. __________, My name is ______________ of the Senior Alliance of(wherever you are) in Beverly Hills. (an upper income city). (example - Hello Ms. Watson, My name is John Fisk of the Senior Alliance of Calfornia in Beverly Hills)

(The introduction is to be said quickly - don't break from speaking - breaking causes the prospective client to interject - If the prospect is allowed to stop and think then she will wonder why she is allowing you to waste her time - meanwhile - prospect is thinking that you are a charity - so prospect is giving you the benefit of the doubt - the prospect is not slamming the phone on you)

(Medicare supplement prospects are upper income folks that have been receiving tons of US Mail solicitations mostly from Medicare Advantage insurers, A**P and BCBS. The prospect genuinely wants to make the Medicare decision in an informed manner.)

(Insurance agents may find it best to cold call for annuities, final expense, long term care, dental insurance, etc. as the prospect turns 64. This "early bird gets the worm" technique will develop a relationship and you will be the trusted advisor to help your "friend" decipher all the solicitations as he/she turns 65.)

Here is the reason for my phone call:

Medicare supplements allows one to go to any doctor, any hospital in the United States. No referals are needed. A drug plan will cover approximately 90% of your medicine costs. The Senior Alliance are experts on this and we can save you more than 48% compared to A**P (BCBS or whatever). Ms. Watson, Your are planning on purchasing a Medicare supplement? Right?

"Right"

(it is still the beginning of the cold call - don't have a client say much or he will think and then hang up)

(This first time that the client speaks it should be Right? "Right"- don't give the client time to think - if he thinks he may just hang up on you!)

Ms. Watson, let me tell you what exactly my office does. We work over 25 Medicare plans in California and really the know the industry. Medicare plans such as Humana, A**P, BCBS and others have in-house salespeople that only can sell their company. My office works with those insurers as independant brokers and for the other 22 plans that are available as well.

To cut to chase, I am here to help you. When it comes to Medicare supplement, these are standard plans with letter designations from Plan A to Plan K. It would be identical coverage with only the price being different. Obviously, you as client would want to buy the company that has the lowest price. At no cost or obligation, I will fax, email, sms or send by US mail a list of the Medicare supplment insurers that is available in Los Angeles. Most likely you will want to be insured by the company that charges less.

The savings over the years by being insured by the lowest priced Medicare supplement versus the highest priced one is subsantial, over the years it would be in the tens of thousands of dollars.

Ms. Watson, considering that it would be identical coverage. You surely would prefer to get the lowest priced standardized Medicare policy versus the highest priced one. I am assuming that you do agree with me. Is that right, Ms Watson

"Yes, It is."
(Let the prospect talk - after your lengthy explanation, the prospect should consider you a needed resource and be friendly - Small talk is now in order - be her friend)

(Have the client speak - Your job is to deliver that valuable list of what the various Medicare supplement carriers are charging - via email, fax, sms or US mail - actually a combination of all them is best. )

(An agent that sounds professional on the phone will almost never get hung up on - You must be naturally talented and/or willing to work hard to have that "anchorman" sounding presentation.)

Ms. Watson - I sincerely want you make the wise decision as to which Medicare supplement plan to purchase.

1. I can sms, fax, email and US mail you this information.
2. According to my data your address is 123 Main Street, Los Angeles, California 90215 - That is correct, Right?
3. And what is your email?
4. Does this phone accept sms, if not what phone should I text to?
5. In years past, I sent out a ton of faxes, Nowadays less. It is my sincere belief that the information that you will receive from me will literally save you tens of thousands of dollars throughout your lifetime. It is that important.
6. I do appreciate that fact that you are hearing me out. I really want you make the good decision!
   
   (It would be extremely rare to make a a one call sale on a cold phone call for Medicare supplement insurance. Two calls over the phone close is very likely if you come accross as professional, knowledgable and friendly. You are more likely to succeed if you are phone selling within a 45 minute minute drive of your home. At least you will be able to pick up a check and say "hello", if that is what is needed to close the deal.
   
   Keep in mind that Medicare supplement clients are the richest subgroup in America - These older, richer people are practically the only Americans with money in the bank. Sell these people an annuity and make big money when you meet them!
   
   It is hard have a scripted phone script beyond this point - There may or not be an objection to giving over her email address. Talk about the open enrollment and other facts about the Medicare supplement industry. Come accross as an expert and don't be afraid to beg. Don't be afraid to be humurous. The reason that you are trying so hard is that you genuinely care for Ms. Watson and want her to make a good decision. Ms. Watson should have full knowledge of the Medicare supplement industry before she makes a purchase.
   
   Talk about what is on your mind. Your job is to help people get the most suitable and best deal for their Medicare supplement insurance. You have that information. You can send it to the prospect via email, US mail, sms, etc. But then you want to follow up to fully explain, answer questions and get Ms. Watson insured. Assume the Sale. If you made it to this point where Ms. Watson gave you her email, sms and confirmed her home address. Congradulations, You made a sale!. Discuss with Ms. Watson that she will be your client for Medicare supplement and she will be grateful to you of getter her such good value, etc.
   
   At this point, you will discuss with Ms. Watson the best method in which to give over this super valuable Medicare supplement information and how it will be followed up.
7. Does Ms. Watson prefer you to visit her house?
   
   
   • Does Ms. Watson prefer that the two of you speak on the phone on Thursday or on Friday?
   
   
   • Does Ms. Watson want you to show her exact numbers on a MYGA - Multi year guaranteed Annuity - where you can get her a higher interest rate than the bank CD while having more liquidity?
   
   
   • Or does Ms. Watson want you to show her exact numbers on a lifetime annuity- Lifetime steady income based on giving a lump sum of money to an insurance company.
   
   
   • The Medicare supplement selling is a great way to make regular sales, but in essense, it is a door opener for you to be a financial planning specialist!)
8. The following are some techniques to make the appointment at Ms. Watson's home

Ms. Watson, Based on my experience and knowledge in the Medicare supplement business I actually know the insurer that you will end up taking..... Let's cut to the chase - Let's sit down and allow me to present to you the policy in person.
In fact, I am in your area of Malibu Beach all of next week - Would Wednesday be good or would Thursday be better. "Monday" Great - Is the afternoon good for you or is it better in the morning? "Afternoon"

Excellent - Before we finish this phone call - Let me give you my, name, office & cell phone, website and email - You have a pen and paper? (Wait for Ms. Watson to jot it down)

My name is Moses Newman - My cell phone is 561-555-1212 - my email is [email protected] - my personal website is www.newmanagency.com and office is 3456 Maple Street, Beverly Hills, CA 90210. Even though our office is in Beverly Hills, my work is mainly in Malibu Beach.

(if Ms. Watson asks who is senior alliance - say it is associated with newmanagency.com)

Ms. Watson, I will send you an email confirmation. I will confirm - Your email is? or What is your email? and what is your cell phone?

Excellent, We will meet at 10 am Next Thursay on June 11th. Ms. Watson, I appreciate you giving me the opportunity to be of assistance to you for your Medicare supplement.

(if the meeting is days away send a US mail letter to Ms. Watson introducing. An email, sms - Make Ms. Watson feel that she has a real connection to you! .. - You just made a one phone call appointment and you are on your way to being upper middle class! Lot more efficent than going to medical or law school. You will quickly close the deal on Medicare supplement and then: Talk about the tax benefits of life insurance.Talk about how a life insurance policy would be the "Final Loving Act."

Show them the video that we can embed on your website. Click to Agent Website and scroll down for video.Talk about how banks in Malibu Beach are so fancy, and have great service. In other neighborhoods people wait in line an hour to cash a check! Malibu banks pay 1% on a CD - even if you lock up the money for 5 years.An insurance company such as Oxford Life - Gives clients between 3 and 4% while offering more liquidity - This is your real expertise. The initial calls are to present yourself as a pro and have the prospect like you.

Medicare supplement sale 100% by phone you must send U.S. Mail, email, sms, etc and then follow up with a phone appointment to get the app - 100% Medicare supplement telephone sale - best for the prospect to be close to your home so you can always meet face-to-face to pick up the application.)

 

[jemelton]

In many jurisdictions, it is illegal to split commissions if the other person is not licensed.

Is ut illegal in the Phillippines?