Selling to Large Accounts (Commercial)

Oct 31, 2016

  1. redzone
    Offline

    redzone New Member

    Posts:
    2
    Likes Received:
    0
    In the insurance game, where is the opportunity to sell to commercial clients best right now and in the near future? Let's account for a hypothetical of obamacare getting repealed and replaced, and health care is now more competitive and privatized.


    From my research, people say life insurance is where the large paychecks are, but given the above hypothetical, the healthcare market would be ripe for some opportunity. Taken that into account, what are my options? Thanks.
     
    redzone, Oct 31, 2016
    #1
  2. karaudio
    Offline

    karaudio New Member

    Posts:
    7
    Likes Received:
    0
    There is nothing pointing to it being repealed. If anything its more likely to become a single payer system. (Which was the ultimate goal anyway)
     
    karaudio, Oct 31, 2016
    #2
  3. redzone
    Offline

    redzone New Member

    Posts:
    2
    Likes Received:
    0
    Okay, lets say hypothetically it gets repealed.

    Can you help me out now?
     
    redzone, Oct 31, 2016
    #3
  4. glgamerica
    Offline

    glgamerica Super Genius

    Posts:
    100
    Likes Received:
    7
    State:
    Indiana
    I wouldn't enter the health insurance arena as an agent now (no matter who gets elected) because it's just crazy stupid how effed up it is and it's more than a small shop can handle.

    Just because the Republicans say they want to repeal the ACA doesn't mean they actually will if they get control of both houses of congress and the white house. They'll get rid of the medical device tax for sure so we'll foot more of the bill but who knows what else they'll really do when they actually have the power to do it. Remember, when the democrats had full control they didn't pass medicare for all which was stupid on their part.

    I personally think we are headed for a single payer system - medicare for all. That's because once employees run out of money, the system will still need money. The only large enough pocket is the government. The only question is how long is it going to take to get to that point.

    The future is probably in a medicare type supplement like seniors buy now paid 100 percent by employees provided through employer groups. While employers are filling the gap for serious critical conditions and for accidents, they aren't really filling the gap for everything else. That's because they can't assume all of the risk. Once the government assumes the large part of the risk of health insurance, I think you'll see a group supplemental product enter the market.

    While the worksite market is more saturated than it was 20 years ago, there's still a lot of money to be made in a permanent life insurance program offered through large employer groups via payroll deduction.

    One person can build a $1 million agency with the help of four to six people on that product alone with a lot less headache and a lot less service.
     
    Last edited: Nov 1, 2016
  5. leevena
    Offline

    leevena Guru

    Posts:
    1,239
    Likes Received:
    150
    I do not subscribe to the belief that group medical will make way for single payor, at least not in the foreseeable future.

    The group market is competitive and can be profitable to a producer. The small market, say 10 to 50, has seen a little resurgence over the past year or so. Self-funding is growing, across all markets and group sizes.

    Good luck.
     
    leevena, Nov 1, 2016
    #5
  6. karaudio
    Offline

    karaudio New Member

    Posts:
    7
    Likes Received:
    0
    BOLI & COLI is where the money is.

    Executive & Deferred comp plans.
     
    Last edited: Nov 1, 2016
  7. Key2Success
    Offline

    Key2Success Guru

    Posts:
    391
    Likes Received:
    3
    The commercial market is and will be a potential goldmine going forward. Go to:

    http://www.insurance-forums.net/for...forum/section-105-benefits-plan-t52463-9.html

    You'll need to weed your way thru a lot of rubbish from a couple of know-it-alls, but the fact is the program has run flawlessly for 6 years and thanks to the announced cost increases, 2017 will be a boom year.......AND YES, it's monitored yearly by good old Uncle Sam.
     
Loading...