My Medicare Advantage Experience Thus Far...

[Rirwin]

Are you guys talking about med advantage or med supps? Most of my Fe customers don’t seem to be a med supp customer and in regards to ma, isn’t that only at the end of the year?

 

[springbokhouston]

You can sell MA throughout the year if you understand how to use all the SEPs available to you. Those you can't move have to be done during AEP or next year's OEP.

 

[tribetime32]

Hes my opinion...

Most agents, especially when they first start, are broke. If you run an agency, teach them to make a sustainable living on one product, before you think about expanding their knowledge base.

Most agents stay broke, because they are always chasing the next best thing.

I am not a proponent of expanding into Medicare, because it will take away from Final Expense sales, however, It can be done. If agents work with carriers that pay decent renewals on life business, it will take on the same stable effect as MA business.

I have only ever added to my FE sales by using Medicare. It’s a great tool to find premium. In fact a lot of my FE wouldn’t be possible without helping with Medicare first

 

[FinalExpenseDojo.com]

My biggest hang up on this whole idea is the fact that you could use that time spent to get the 2 Medicare sales to make 2 more FE presentations and potentially make 2 more FE sales a week.

BUT, let's just say you only close 50% of those extra 2 FE appointments. That would get you 1 extra sale & $720 in extra commissions per week not factoring in advances ($600 AP on a 120%).

Even with 80% persistency, you'd earn a little less than $30,000 extra per year just with 1 extra FE sale a week. Plus you still earn 6-8% renewals on that $24,960 AP...

 

[KRobby]

My biggest hang up on this whole idea is the fact that you could use that time spent to get the 2 Medicare sales to make 2 more FE presentations and potentially make 2 more FE sales a week.

BUT, let's just say you only close 50% of those extra 2 FE appointments. That would get you 1 extra sale & $720 in extra commissions per week not factoring in advances ($600 AP on a 120%).

Even with 80% persistency, you'd earn a little less than $30,000 extra per year just with 1 extra FE sale a week. Plus you still earn 6-8% renewals on that $24,960 AP...

Looks great, now do the math on the 1 extra med supp sale each week for the next 6 years. Ends up being no contest, as Louis said, mostly due to the much larger premium.
Sounds like if one were to do both though, it would be better to market ms and crosssell fe rather than the other way around.

 

[Agentguy5]

I just took a snapshot of our Medicare supplement agent chatroom where one of our agents is applying Russ’ system and as you can see he sold 4 CIGNA applications today for $7,600. That’s an average of $1900 each on $5- $10 leads

I'm looking forward to meeting and riding with Russ... Finally, someone who can cross-sell huge numbers and is willing to teach it to our agents!

 

[NSRH]

Looks great, now do the math on the 1 extra med supp sale each week for the next 6 years. Ends up being no contest, as Louis said, mostly due to the much larger premium.
Sounds like if one were to do both though, it would be better to market ms and crosssell fe rather than the other way around.

Except that FE clients will likely be on an MA, and won’t keep the plan that long.

 

[SPUR CITY]

I'm looking forward to meeting and riding with Russ... Finally, someone who can cross-sell huge numbers and is willing to teach it to our agents!

No doubt. Check out the damage he did yesterday with our $5 lead:

 

[rousemark]

I know you can get 13% Columbian YRS. 2-5 AND 9% 6-10 and 2% lifetime if it goes past year 11. I'm not sure if that is the best you can get, but that offer is definitely out there. It may not be the best, but I'm sure it's not the worst you could do. I know I read/heard somewhere you had to have at least 20 policies active on the books to be eligible for those renewals. I'm not sure if that is still the case.

The 20 policy requirement is only after you terminate in order to satisfy the vesting. As long as you are contracted, you receive the renewals even if you just have one policy in force.

 

[Ryan Caras]

I know plenty of peeps doing Medicare and not one of them is at those 3 to 5 year projections and they write 125 MA's a year . . .

then you need to ask more people

jimmy utah on here is a good friend of mine... he did medicare just like what peter said for 6 years and his renewal was 9300 a month... and he isn't even selling insurance anymore and the money keeps on coming...

its real.. i wish we jumped on this way before like jimmy did... he saw the vision and now he is reaping the reward.