Prospecting Med Supps

[shortcut]

A lot of it also depends on the time of day in which you call the seniors...They most likely will not answer around meal times, and many are more active in the morning. I began to consider the lifestyle of my grandparents and focusing my call efforts using their schedule as an example.

I normally reach at least 30-40% of the seniors I am calling....

 

[Frank Stastny]

The initial phone call when selling Med Supps is the single most important part of the entire sales process.

Isn't this true for almost any product you sell?

You have to set the "frame" early on in anything you sell.

Marry

Sizzle

Close!

Yes it is but you would be amazed, maybe not, at how many agents think they all they need is a "script" to read. Nothing is sold during a phone call, the agent must first engage them in casual conversation.
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A lot of it also depends on the time of day in which you call the seniors...They most likely will not answer around meal times, and many are more active in the morning. I began to consider the lifestyle of my grandparents and focusing my call efforts using their schedule as an example.

I normally reach at least 30-40% of the seniors I am calling....

Exactly! So many things can come into play. I have had good success calling between 5:30 and 8pm. (I didn't think I would either until I tried it.)

The weather can play a very important part in the success an agent has on any given day. When you don't want to be out of the house they probably don't either.

 

[moonlightandmargaritas]

It is a "small sample" done over a relatively very short period of time. I would hardly call it "reliable".

So you're able to tell me that my sample size is not big enough to be "reliable"? Pretty amazing for a guy who self-admittedly doesn't "keep track of that information" because it "has no value to me"!

So tell us, how big and long would the sample size have to be for you to deem it scientifically sound?

 

[jerry176]

A lot of it also depends on the time of day in which you call the seniors...They most likely will not answer around meal times, and many are more active in the morning. I began to consider the lifestyle of my grandparents and focusing my call efforts using their schedule as an example.

I normally reach at least 30-40% of the seniors I am calling....

30 to 40 percent
Tell us your secret, or is the number more like 1 to 5 percent.
I am leaning more towards the 1 percent being contacted.

 

[captain94]

ive called with a dialer from call fire. If I dial 100 numbers 12 to 15 of them answer for every 30 answers I will get a solid appt. to go write it up.
If I knock on 25 doors I average 2 sales thats 8% conversion. Plus I can work in 1 area all year because the DNC will not apply.

 

[jemelton]

What do you say when they answer the door?

Are there local regulations about just going out and knocking on doors?

 

[stormtracker]

What do you say when they answer the door?

"There's a sucker born every minute."

Are there local regulations about just going out and knocking on doors?

Depends on the jurisdiction.

 

[shortcut]

30 to 40 percent
Tell us your secret, or is the number more like 1 to 5 percent.
I am leaning more towards the 1 percent being contacted.

I'm calling off of a list that I purchased, and it has been for the most part very reliable. I call from a local phone number, and my caller id simply has my name (not a business name). I'm very systematic in the way I call potential prospects. I call separate pages of my leads at different times. It's also important to note that my target market does not work during the day and can often be contacted between 9 and 10am. After lunch time is normally nap time, so I wait to call until about 4-5pm.

1% of people being contacted is ridiculous. Can you honestly say that you believe it would take you 100 phone calls to even get one person on the phone?

I certainly don't sell to 30-40%, although that would certainly be nice.

 

[gdoty]

What do you say when they answer the door?

Are there local regulations about just going out and knocking on doors?

No regulations I know of - as long as you go in talking about Medicare, NOT MA plans. That would be a NO NO.

Here's a script I set up to train agents where I used to work.

T-65 DOOR KNOCK SCRIPT

​

Good Evening. My name's Gary, I'm an independent agent and I specialize in medicare (hand them a business card). I was in the area & noticed you were turning 65…. Happy Birthday! Have you made any plans regarding Medicare?

Scenerio #1: Already have HMO/Med Sup
That's great! Who did you go with? (If you can't do better on the price, follow up with…) Did you know that your (HMO/Med Sup) doesn't cover Long Term care or Home Health care if you need that after a hospital stay? That can cost up to $6000 a month. Why don't I give you a call to see if you would like more information on LTC? Is that a (954_____) number?

Scenerio #2: Still working…. Employer pays part of the cost.
That's great. How much are you paying ea. month? ($300, $400 ?) You know, with a Med Sup you could save $XXX a year and would probably get better coverage. You can see any doctor, go to any hospital and have no co-pays or deductables. Why don't I give you a call & see what your schedule looks like. I'd be happy to give you a simple explanation on what Medicare costs & what your options are. And as an indpend. agent I can find the best price to fit your budget.Is that a (954______) number?

Scenerio #3: No, not yet.
Great. Looks like I came at just the right time. I know that with all the information you get in the mail & what neighbors & friends tell you it can get very confusing. How 'bout I give you a call & see what your schedule looks like next week. I can give you a very simple explanation of the cost of Medicare and what your options are. And as an indpend. agent I can find the best price to fit your budget. Is that a (954_______) number?

I only door knock DNC's, and I don't ask for the phone # 'cause that might make them respond with "just give me your card – I'll give you a call". If you ask "is that a (use your area code) number like I did above, it's human nature to want to fill in the rest. With some lists, you'll still have a phone # for the DNC listing - you just can't call until you get an ok. But you don't have to ask for the number if you already have it – just if it's ok to call.

As I said in another post, it's about 30% of my business, and I also write a number of LTC policies and annuities (about $400,000 in annuity premiums last year) from those appointments also. Just make sure you call the next day so they remember you, & try to set the appt. a day after that. Just my 2¢.

 

[medx]

No regulations I know of - as long as you go in talking about Medicare, NOT MA plans. That would be a NO NO.

Here's a script I set up to train agents where I used to work.

T-65 DOOR KNOCK SCRIPT
​

Good Evening. My name's Gary, I'm an independent agent and I specialize in medicare (hand them a business card). I was in the area & noticed you were turning 65…. Happy Birthday! Have you made any plans regarding Medicare?

Scenerio #1: Already have HMO/Med Sup
That's great! Who did you go with? (If you can't do better on the price, follow up with…) Did you know that your (HMO/Med Sup) doesn't cover Long Term care or Home Health care if you need that after a hospital stay? That can cost up to $6000 a month. Why don't I give you a call to see if you would like more information on LTC? Is that a (954_____) number?

Scenerio #2: Still working…. Employer pays part of the cost.
That's great. How much are you paying ea. month? ($300, $400 ?) You know, with a Med Sup you could save a year and would probably get better coverage. You can see any doctor, go to any hospital and have no co-pays or deductables. Why don't I give you a call & see what your schedule looks like. I'd be happy to give you a simple explanation on what Medicare costs & what your options are. And as an indpend. agent I can find the best price to fit your budget.Is that a (954______) number?

Scenerio #3: No, not yet.
Great. Looks like I came at just the right time. I know that with all the information you get in the mail & what neighbors & friends tell you it can get very confusing. How 'bout I give you a call & see what your schedule looks like next week. I can give you a very simple explanation of the cost of Medicare and what your options are. And as an indpend. agent I can find the best price to fit your budget. Is that a (954_______) number?

I only door knock DNC's, and I don't ask for the phone # 'cause that might make them respond with "just give me your card – I'll give you a call". If you ask "is that a (use your area code) number like I did above, it's human nature to want to fill in the rest. With some lists, you'll still have a phone # for the DNC listing - you just can't call until you get an ok. But you don't have to ask for the number if you already have it – just if it's ok to call.

As I said in another post, it's about 30% of my business, and I also write a number of LTC policies and annuities (about $400,000 in annuity premiums last year) from those appointments also. Just make sure you call the next day so they remember you, & try to set the appt. a day after that. Just my 2¢.

Good information for many of the newer Agents.

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