New to the Forum
- Thread starter mfsi
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Re: New to Forum
Welcome to the forums!
The first thing is to decide what carriers you are going to contract with and how. Deciding that will depend on who is competitive in your area. I would look at you department of insurance website and see if you can price supplements from there. If you choose to offer MA plans, you can find them at Medicare's website.
You can go through a FMO...that is an agency that will offer you contracts. Some may offer street contracts, or a reduced contract. If it is reduced, then they should provide something for the reduction (mainly leads). Watch who you sign with, because they can "hold" you to their agency by not releasing you.
The other option is to go direct with the carriers. In that case you will be on you own for leads, but have in general higher commissions.
This is a condensed version, but I hope it helps.
Welcome to the forums!
The first thing is to decide what carriers you are going to contract with and how. Deciding that will depend on who is competitive in your area. I would look at you department of insurance website and see if you can price supplements from there. If you choose to offer MA plans, you can find them at Medicare's website.
You can go through a FMO...that is an agency that will offer you contracts. Some may offer street contracts, or a reduced contract. If it is reduced, then they should provide something for the reduction (mainly leads). Watch who you sign with, because they can "hold" you to their agency by not releasing you.
The other option is to go direct with the carriers. In that case you will be on you own for leads, but have in general higher commissions.
This is a condensed version, but I hope it helps.
Re: New to Forum
Joe Moore is an IMO who is on this forum. He is in Morristown, TN, and offers a lot of senior products. Here is a link:
Top Contracts Available-Many Companies Products!
Joe Moore is an IMO who is on this forum. He is in Morristown, TN, and offers a lot of senior products. Here is a link:
Top Contracts Available-Many Companies Products!
- Thread starter
- #8
- 7,066
Welcome to the forum and the senior market.
While you are waiting to get your license you can begin researching the companies that offer Med Supps. You may be able to contact the DOI in your state and request a list of all companies that offer Med Supps. In Missouri I can get a list of all companies and their premiums.
Find the companies that currently have the best rates and pick up the phone and call them and inquire about contracting with them. DO NOT get in a big hurry to contact a marketing organization aka FMO, IMO without first finding out if they will give you an immediate, unconditional release. Also, DO NOT sell for a general agent who is going to pay you your commission as opposed to receiving your commission directly from the insurance company.
In general, seniors only buy the cheapest policy available. The coverage offered by the various plans, by fed law, must be the same from one company to the next. Wait, you are on Medicare, I'm preaching to the choir.
A summary of some of the things that will be helpful to know when selling Med Supps.
Becoming an expert on both Medicare and Med Supps will serve you very well. Knowing the changes that have taken place with Medicare will be especially helpful. It gives you the ability to help your prospect select the best plan and to explain the reasons why you are recommending it.
It would be a whole lot easier for you to just pick up the phone and give me a call. I can at least get you pointed in the right direction and give you a quick overview of some of the things to avoid. I've been selling Med Supps for sixteen years and maybe I can help you get started a little more quickly.
While you are waiting to get your license you can begin researching the companies that offer Med Supps. You may be able to contact the DOI in your state and request a list of all companies that offer Med Supps. In Missouri I can get a list of all companies and their premiums.
Find the companies that currently have the best rates and pick up the phone and call them and inquire about contracting with them. DO NOT get in a big hurry to contact a marketing organization aka FMO, IMO without first finding out if they will give you an immediate, unconditional release. Also, DO NOT sell for a general agent who is going to pay you your commission as opposed to receiving your commission directly from the insurance company.
In general, seniors only buy the cheapest policy available. The coverage offered by the various plans, by fed law, must be the same from one company to the next. Wait, you are on Medicare, I'm preaching to the choir.
A summary of some of the things that will be helpful to know when selling Med Supps.
Becoming an expert on both Medicare and Med Supps will serve you very well. Knowing the changes that have taken place with Medicare will be especially helpful. It gives you the ability to help your prospect select the best plan and to explain the reasons why you are recommending it.
It would be a whole lot easier for you to just pick up the phone and give me a call. I can at least get you pointed in the right direction and give you a quick overview of some of the things to avoid. I've been selling Med Supps for sixteen years and maybe I can help you get started a little more quickly.
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