New Client/friend Wants to Work with Me/suggestions?

yorkriver1

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Virginia
My new med/supp/pdp client wants to develop an income from the business of Medicare related insurance, and brought this up as a request to work for me.

I believe the best use of the friend's time would be to solicit business, rather than as back office support. This friend would be good at soliciting for group insurance, too, even cold calling in person. We can't do that for MAPD/PDP, or for med/supps directly, unless to visit financial planners and CPA's so they will refer their clients.

I would like to pay something like so much for an appointment, then add on so much for a sale. I know in my state and most others that this would require a license (soliciting in my state is on the same grounds as straight out sales).

In the long run, if looking for a residual income, being agent under me would be ideal. I don't know if starting out with one person that would work. I don't want to spend too much time away from making sales to have this all function well for us both.

Any suggestions?
 
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Yeah, tell him he needs to get licensed before any of that happens.

That ought to cool his jets.
I get three or four clients a year, recent retirees, sometimes retired not by choice, who ask about working with/for me. I don't discourage them, but do, as you suggest here, recommend they get their license first then we can look at options. I don't hear from them after that.

Had one client, however, who I thought might be pretty good at this and encouraged her to get her license. A few months later I get a cancel notice on her med supp. Turns out she did get licensed, got herself hired by one of the regional MAPD carriers, and switched her med supp to them at AEP. Haven't heard from her since, but do hope it worked out.
 
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Three years after I enrolled him and his wife, a client called and asked if UHC was taking on new agents. He'd had a few claims and realized how MAPD worked and thought he could help a lot of people. Didn't need the money, thought he was doing the Lord's work. He outsold me the first and every subsequent AEP. Never switched his own plans to himself -"I didn't become an agent to reduce YOUR renewals". He built himself a nice book of renewals and pushed our manager to lobby for the Agent Successor Plan.
 
Definitely asking them to get licensed first would help "weed" out the people that aren't serious.

However, after that, starting with one instead of 10 is always best. Get your feet wet, train them, show them how you make sells (if you need to), give them guidance, and soon they'll be using their own sells system. If you start slowly you can certainly control how much time and money you spend building a residual income yourself and helping your client build a residual income. :biggrin:
 
Three years after I enrolled him and his wife, a client called and asked if UHC was taking on new agents. He'd had a few claims and realized how MAPD worked and thought he could help a lot of people. Didn't need the money, thought he was doing the Lord's work. He outsold me the first and every subsequent AEP. Never switched his own plans to himself -"I didn't become an agent to reduce YOUR renewals". He built himself a nice book of renewals and pushed our manager to lobby for the Agent Successor Plan.

Thank you for posting this vignette. It is challenging my thought processes about the assorted Medicare insurance products.
 
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