Selling Major Medical to Cross Sell Supplemental

Nov 28, 2018

?

Stick to just supplemental? Or do both?

  1. Do supplemental only

  2. Do major medical and supplemental

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  1. socalLHagent
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    socalLHagent New Member

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    Hi,

    After months of lurking on the forum I decided to join.

    I have been appointed with Colonial Life for a year and have been doing great. They are a great company and have not only taught me so much, but have shown me that insurance can be exciting and really helps a lot of people.

    I have been researching and considering learning the ins and outs from a major medical broker I know so that I can eventually broker major medical. Major medical likely has a bleak future and doesn't seem to be paying well anymore from what I've read.

    My question is: would it be a good idea to offer employers major medical (after I've been trained and studied) so that I can implement voluntary benefits? A common issue I run into is I'd say 60% of employers where I am located (San Diego) tell me they work with a broker that does everything.

    Is it a good idea to become a benefits broker for small businesses if the money is in the supplemental? Clients needs are a higher priority for me than the money alone, but I feel I could open the doors to a lot more business this way.

    PS, if I work with other existing brokers I lose a good portion of commission.
     
  2. Sean OHara
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    Sean OHara New Member

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  3. Corpuschristi
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    Corpuschristi Expert

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    That is the core of our sales. We target the under 50 employee business that have middle to lower income employees . We offer ACA plans to the employees and most will be on full subsidy. We install an employee supplemental plan, dental, individual IRA, and offer key man insurance to the owners. We also come across several Medicare eligibles during the enrolling process. We won't get ACA commisions during SEP, but these become inventory for ACA OEP. It works for us, have not bought any leads in months. And the new client base allows us to work the base for individual products.
     
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