Senior Market Vs. Individual Health Market

Experienced Agent

Super Genius
100+ Post Club
145
I'm looking for some advice. I run a small agency in the Carolinas. We work the senior market; Advantage, Final Expense, Med Supps, Annuities (few), etc... My problem is that, while during the AEP season, money is relatively easy, the rest of the year most of the agents really struggle. These are full time captive agents. They are in the office every morning and truly dedicated.

We also sell other products when asked; Term Life, Disability, Health Insurance, etc... Recently I've had conversations with my primary FMO regarding the possibility of moving into the individual health business. There are some decent health products that pay a fair commission. Our conversations lead me to believe that my agents may stand a better chance of making a $1000 per week in the health market than in the off season senior market.

For those that understand both markets, what do you see in terms of an agents ability to make a $1,000 weekly until he/she develops a customer base and becomes a true insurance professional.
 
"Our conversations lead me to believe that my agents may stand a better chance of making a $1000 per week in the health market than in the off season senior market."

The comments from that statement should be very interesting!
 
you might want to do a search for "GET OUT OF THE INDIVIDUAL HEALTH INSURANCE MARKET NOW "
 
I get the point. There is no money to be made in the individual health market. Too bad. I will tell my FMO he is full of @#$%.
 
The more I see my commissions dwindling away on individual, the more I think we should just send applicants to our website to sign up and put zero time into it. Pacificare just sent me a notice that they had mistakenly paid me 25% since October 2010 and it should have been 4% with a 2nd year renewal at 4%. That's over an 80% reduction in commission plus they are charging it back on future business to the tune of $500. I had a niche with it for maternity. Now I'm better off telling women to get pregnant first, go without insurance for 6 months, then sign up for PCIP for $216. At least I get $50. It does not pay to be responsible anymore.
Each time I do individual it seems like it takes more time to get approved and I have to write supporting letters to get it approved.
 
I'm looking for some advice. I run a small agency in the Carolinas. We work the senior market; Advantage, Final Expense, Med Supps, Annuities (few), etc... My problem is that, while during the AEP season, money is relatively easy, the rest of the year most of the agents really struggle. These are full time captive agents. They are in the office every morning and truly dedicated.

We also sell other products when asked; Term Life, Disability, Health Insurance, etc... Recently I've had conversations with my primary FMO regarding the possibility of moving into the individual health business. There are some decent health products that pay a fair commission. Our conversations lead me to believe that my agents may stand a better chance of making a $1000 per week in the health market than in the off season senior market.

For those that understand both markets, what do you see in terms of an agents ability to make a $1,000 weekly until he/she develops a customer base and becomes a true insurance professional.

It sounds like you guys are just putting WAY to much focus on Medicare Advantage. That's the only product that is seasonal.

I would back way off that one and focus on the other products you already carry.
 
I left the individual market when the recession started and my MO was cut off advances from Golden Rule due to charge backs. I saw 1/3 of my book lapse. Unemployment is high, small businesses are closing or barely keeping their doors open and more corp. jobs are being cut. Houses are being foreclosed, crime is up, cars being reprossed not to mention commissions cut in half or more. Golden Rule (now United Healthcare) has cut out the FMO since there's no money to pay them since health care reform. The ins companies must be getting tougher on underwriting since they have no idea what is going to happen to the industry.

Are you sure you want to get into the individual market?
- - - - - - - - - - - - - - - - - -
Is that stealthy advice? What exactly are you trying to say?

Now you know why he said it.
 
Last edited:
Back
Top