Quote Comparison Spreadsheet

[somarco]

Bob #2. You said a JA rep sends you info on their plans. Could have sworn you have posted before about using Time. I was under the impression if you were appointed for Time you could not quote JA and vice versa.

Frankly, I have looked at JA plans before and saw very little difference. And Time is a more recognized name in the industry than JA.

 

[CHUMPS FROM OXFORD]

Must be a grey area. We write with TIME but the JA local rep is always trying to get us to write "some of our business" through them.

And I feel the same way about JA's name.

It sounds like Paul Bunyan Insurance Company. Or George Costanza Insurance Company. Or something like that.

 

[somarco]

or Life of Riley . . .

(You have to be over 50 to get that one).

 

[CHUMPS FROM OXFORD]

I'm not over 50 (close though) but I remember that show. Possibly reruns on Nik or something like that.

 

[Bob_The_Insurance_Guy]

Bob #2. You said a JA rep sends you info on their plans. Could have sworn you have posted before about using Time. I was under the impression if you were appointed for Time you could not quote JA and vice versa.

Frankly, I have looked at JA plans before and saw very little difference. And Time is a more recognized name in the industry than JA.

There is very little difference, but at least the JA rep let's me know what plans go up against a competitors plan. The Assurant Rep doesn't do that.

You can be licensed with both. I get commission checks from both.

 

[Bob_The_Insurance_Guy]

#1, e-mail me on my yahoo account, and I'll send you what she sends me. The Assurant rep doesn't send me squat.

The service I get from both are good, just in two different ways.

The Assurant office is closer, by eight miles.

 

[somarco]

#2, can't locate your yahoo address. Sent to the address on your website

 

[ajtour42]

I don't have anything automated, but here's how I set up my comparisons:

- I use Excel

- Going across the top row: titles of the Current Plan, Proposed Plan #1, Proposed Plan #2, Proposed Plan #3 (etc.). I usually just use their current plan and the one we've discussed. If they've expressed interest in co-pays, though, I'll show them an HSA vs. a co-pay plan. And, if they've referenced another company, I'll add that plan, too. But I try to keep it as simple as possible.

- Going down the left column: Deductible, In / Out Network Co-Ins, OOP Max, Preventative, 30-Day Accident Benefit (when I'm offering American Community plans), Office Visits, RX's, Monthly Premium, Annual Premium, Other Available Deductibles, Hypothetical #1, Hypothetical #2, Hypothetical #3.

- Then, in each box, I fill in the benefit #'s / details. This took FOREVER when I first started doing it, but now that I'm recommending the same plans over and over, I usually just have to change the premium numbers and a few small details where necessary.

- FYI: Hypothetical #1 (what happens if Joe gets bronchitis, sees a doctor, and needs an antibiotic? I break down approximately how much that'll cost OOP if they stay in-network with each plan.) Hypothetical #2 (what happens if Joe falls off a ladder, breaks his ankle, needs surgery and stays in the hospital a few days, incurring $10K in costs?) Hypothetical #3 (God forbid, Joe has a serious medical issue incurring $2M in costs over 5 years?) Clients LOVE this, and it's always worth my time.

- I save it as the Excel file and then also save it as a .pdf (which you can do by downloading the free Primo PDF distiller -- just Google it). I never e-mail quotes, though I can do that easily with the .pdf. Instead, I print the chart and include it with the new quote, product brochures, etc. in a folder. If we've already discussed the basics on the phone, I bring it with me for the meeting. If it's going to be awhile before I see them, I mail it in advance so they can take some time with it. If they've already seen my comparisons before and just want an updated quote, I fax it.

Hope that helps!

 

[J.R.]

I'd love to see a sample document if you would be so kind. The hypothetical scenarios are a great idea. I normally say, "just pay the premium and everything else will take of itself!"

 

[ajtour42]

Will do! I'll put up a screen shot tomorrow (Friday) when I'm actually awake. Then, I can e-mail whoever wants the Excel file. It's not perfect, by any means, but it gets the job done for now!