Need some guidance; making the move...

[insurancechic127]

You are already 90% there.

Pick an FMO based on product training. You already know how to sell and get in front of people. Leads are nice, but its not what you need right now. You need to learn the product.

There are 2 paths for Medicare: T65 (virgins) and Underwriting. I would just start with virgins. And that doesn't necessarily mean T65. More and more people are waiting to retire until 66 and beyond. You can do underwriting next year.

Your cash flow is there, so you get that its a long game.

Learn Med Supp (and Medicare, read Medicare and You, too) and focus on that.

Do not assign your commissions.

Because they go hand in hand, I would also learn how Part D works. Not necessarily to sell it, but because you are going to get asked about it a lot and if you don't have the answers, they will find someone who will. And that person will also sell them their Med Supp.

Good luck!!!!

Okay, already so confused. Two paths you mentioned: T65 (which I understand to mean any person who will be turning 65 in 3-6 months, correct?)
Underwriting: I'm not an underwriter; can you explain what you mean by this? Thanks!!!

 

[insurancechic127]

I'm learning Medicare as we speak. Reading anything i can get my hands on.

Question: How would I know if an FMO has good product training? I spoke with one that, upon releasing me (if things didn't work out) I was subject to a 6-month non-compete. I didn't like that. Another one I spoke to would release with no non-compete, AND offered to match me dollar-for-dollar (up to $5000) on buying leads. Everyone paints a rosy picture, so I'm guarded at this point.

I get it that my focus right now needs to be on learning Medicare as much as possible. I like to read and research and have a good memory, so hopefully this will go smoothly.

At the same time though, I'm trying to formulate a business plan (which I know is only a draft and will be revised a 20 times.) I'm a strong believer in planning and goal setting.

I know that I don't want to be a captive agent, but that's about all I know. I truly appreciate this forum...thank you guys. I'll be saying thank you a lot!

 

[Todd King]

I'm learning Medicare as we speak. Reading anything i can get my hands on.

Question: How would I know if an FMO has good product training? I spoke with one that, upon releasing me (if things didn't work out) I was subject to a 6-month non-compete. I didn't like that. Another one I spoke to would release with no non-compete, AND offered to match me dollar-for-dollar (up to $5000) on buying leads. Everyone paints a rosy picture, so I'm guarded at this point.

I get it that my focus right now needs to be on learning Medicare as much as possible. I like to read and research and have a good memory, so hopefully this will go smoothly.

At the same time though, I'm trying to formulate a business plan (which I know is only a draft and will be revised a 20 times.) I'm a strong believer in planning and goal setting.

I know that I don't want to be a captive agent, but that's about all I know. I truly appreciate this forum...thank you guys. I'll be saying thank you a lot!

Be careful on the matching costs for leads. Make sure you're getting street level and nothing below that. That is usually what happens. You think you're getting something but in fact you are paying for it (usually through a commission cut). If you don't know what the street level commissions are for each company just call me and I can tell you.

 

[Devin01]

I'll throw my hat in the ring, if you would like to chat abut transitioning to Medicare, feel free to give me a buzz. I am somewhat of a Hybrid, our office sells and we assist agents with training.

 

[kgmom219]

I'm learning Medicare as we speak. Reading anything i can get my hands on.

Question: How would I know if an FMO has good product training? I spoke with one that, upon releasing me (if things didn't work out) I was subject to a 6-month non-compete. I didn't like that. Another one I spoke to would release with no non-compete, AND offered to match me dollar-for-dollar (up to $5000) on buying leads. Everyone paints a rosy picture, so I'm guarded at this point.

I get it that my focus right now needs to be on learning Medicare as much as possible. I like to read and research and have a good memory, so hopefully this will go smoothly.

At the same time though, I'm trying to formulate a business plan (which I know is only a draft and will be revised a 20 times.) I'm a strong believer in planning and goal setting.

I know that I don't want to be a captive agent, but that's about all I know. I truly appreciate this forum...thank you guys. I'll be saying thank you a lot!

Absolutely NO to captive. Absolutely NO to non-competes. I go direct to carriers, but that's me, 16 years later.

When I say T65, that's a "general" reference to people turning 65 and enrolling in Part B. However, I like the term "virgins" better, because most of my clients are 66+ and still enrolling in Part B for the first time because they have stayed employed.

Underwriting refers to people that are currently on a Supp (or MAPD, but there's a ton of rules about moving them) and want to move to a better plan or same plan with a better rate. To move to a different Supp, they have to go through underwriting. That's when you get into "Cigna won't take drug X, but Aetna DOES take drug X". I would stay away from those until you get T65 Med Supp figured out.

 

[Life Hawk]

I never really enjoyed the payroll market either but I do enjoy cancer/accident/CI on an individual basis.. Same products, different marketing. Good first year commission, great renewals. Much less government interference than medicare and much easier underwriting..

I started in cancer, heart, stroke and accident... door to door. Then went FMO then independent... He`s right. With that much knowledge and background, learn life insurance and you could fly with that work ethic. Find a mentor.

 

[insurancechic127]

I appreciate the advice, everyone. I'm still contracted with Aflac, but they've partnered with a company called Everwell...forcing everyone to learn a whole new enrollment platform that is full of bugs and problematic as heck.

I've been down this road with Aflac before, and I just don't have the steam to work with them anymore. But I still believe whole-heartedly in Cancer Insurance (especially since i live in a state with staggeringly high rates.) I'm sure I'll still sell specified disease indemnity products as I see the need, but again, I'm firm about transitioning to Medicare.

I need the support of an FMO; for now at least. I've talked with:

1. Excelsior (they are part of Health Markets; the latter being capitve? I'm not sure. Again, confusion rules the day) Nice folks, but slow to get back to me. They have the non-compete upon release. Street level commission, or so they say.

2. Senior Market Advisors. Young company, but again, nice and helpful. Responsive. No non-compete, and they offer the matching $$ for leads. (I will head the advice and make sure that there no subsequent reduction in commissions.)

3. Garity Advantage: They have a home office in my state. An agent I spoke with (thru a networking referral) uses them. Not a lot of info on the 'net, and their website is not super-impressive...

Are there any FMO's I should AVOID? Thanks again, guys.

 

[THEINSGUY7]

I use Premier Senior Marketing from Omaha Nebraska.Had trouble getting released from Messer Financial in North Carolina.Would probably use Senior Marketing Sales if Premier was not available. I do not know about others.

 

[germanwine1]

I appreciate the advice, everyone. I'm still contracted with Aflac, but they've partnered with a company called Everwell...forcing everyone to learn a whole new enrollment platform that is full of bugs and problematic as heck.

I've been down this road with Aflac before, and I just don't have the steam to work with them anymore. But I still believe whole-heartedly in Cancer Insurance (especially since i live in a state with staggeringly high rates.) I'm sure I'll still sell specified disease indemnity products as I see the need, but again, I'm firm about transitioning to Medicare.

I need the support of an FMO; for now at least. I've talked with:

1. Excelsior (they are part of Health Markets; the latter being capitve? I'm not sure. Again, confusion rules the day) Nice folks, but slow to get back to me. They have the non-compete upon release. Street level commission, or so they say.

2. Senior Market Advisors. Young company, but again, nice and helpful. Responsive. No non-compete, and they offer the matching $$ for leads. (I will head the advice and make sure that there no subsequent reduction in commissions.)

3. Garity Advantage: They have a home office in my state. An agent I spoke with (thru a networking referral) uses them. Not a lot of info on the 'net, and their website is not super-impressive...

Are there any FMO's I should AVOID? Thanks again, guys.

I use Senior Marketing Specialist based in Columbia Missouri. Switched to them two years ago and was a great decision.

 

[insurancechic127]

I use Senior Marketing Specialist based in Columbia Missouri. Switched to them two years ago and was a great decision.

What specifically do you like about Senior Marketing Specialist?