MoO Medd Supp Question

[GreenSky]

Is it okay to sell the lowest priced plans in California?

Rick

 

[Norwayguy]

Why do you say MOO? MOO doesn't sell in most states because they could not hold a rate...you mean United World or United of Omaha. MOO is dead, just as the wild kingdom.

As you just said in Most States...In Maine they have one of the most competetive plans out there and UoO and UW are not available in Maine.

 

[sman]

Only if you've done a spreadsheet and they have the lowest rate increases historically. But if the lowest priced plan is a MOO carrier, then you have to move to the next plan on the list.

Is it okay to sell the lowest priced plans in California?

Rick

 

[retread]

The original post was about Mutual of Omaha Medicare supplements. That is what I was responding to. When I receive it it's a big jumble of papers, the policy, a Mutual of Omaha folder that they can put everything in. I just organize it. I staple my business card to the folder, include a cover letter, then the policy, then the papers behind the policy. As I mentioned above, in my P.S. I let them know their health card has been mailed separately.

I like your follow up Frank, that's also a good way to do it. No, I don't remove the papers, just organize it a little better. Do you write Mutual of Omaha/United of Omaha in Missouri, if you've ever gotten their policy sent to you rather than the client you'd see it's kind of a mess.

The original post wanted to know if they should deliver the policy in person. That's kind of time consuming....you're probably better off just mailing the policy to the client.

I do the same thing.... but I think I will add this additional touch of Frank's, too.

I put the policy in the provided folder and staple it in. That way they know the folder is the important part. I flag the letter that requests they review their application for errors within 10 days, and remind them they have a "30 day free look". All the rest of the material I leave loose and add my letter on top, reiterating that they need to call me if they have any questions, and "Thanks for your business! Don't forget to mention me to your friends and family." Then I mail it to them Priority mail (another of Frank's tips... thanks, Frank).

 

[jacobtn]

I dont do it, but the sharks who taught me how to play the med supp game would tell you the whole purpose of hand delivering the supplement is so you can get the client sitting down at the kitchen table so you can sell them a LTC plan. Like I said I dont do it because its just too hard core for me but the guys Ive seen do it have had tremendous success at it.

LTC? Screw that. Takes too long to get issued, hard sale most of the time, and no commission advances.

Cross sell them an annuity. Make a ton more, and you aren't getting them to spend money, just reallocate.

 

[Yoda]

LTC? Screw that. Takes too long to get issued, hard sale most of the time, and no commission advances.

Cross sell them an annuity. Make a ton more, and you aren't getting them to spend money, just reallocate.

A guy buying an annuity that does not first own a LTC plan is a guy making a big mistake er Im sorry but selling a LTC plan is 3 times easier then selling an annuity!

 

[sman]

I disagree yoda. The guy buying the LTC insurance is having to spend extra money. The guy purchasing an annuity is just moving assets he already has to another place. First time lookers at LTC usually get sticker shock. But the guy earning 2% on a CD or an existing annuity will move that money to get a higher interest rate quicker than spending $200-$300 per month on LTC insurance.

Im sorry but selling a LTC plan is 3 times easier then selling an annuity!

 

[GreenSky]

Only if you've done a spreadsheet and they have the lowest rate increases historically. But if the lowest priced plan is a MOO carrier, then you have to move to the next plan on the list.

It was a trick question that was directed at that genius, Yoda. He makes many statements about products he doesn't understand and I was certain he wouldn't answer this. Of course, I was correct.

In CA, anyone with a Med Supp has the ability to move to a similar or lesser plan on a GI basis for 30 days after their birthday.

Therefore, it is ALWAYS advisable to buy the lowest priced plan regardless of rate history.

Rick

 

[sman]

Yeah Rick, my tongue was planted firmly in my cheek when I typed that response.

 

[GreenSky]

Yeah Rick, my tongue was planted firmly in my cheek when I typed that response.

I actually caught that but failed to mention the sarcasm.

Rick