Slow months

[sbg_ben]

I have set up at the dr's office by going into the dr's offices and building a relationship. They send me leads etc. I bring them lunch, freebies from insurance companies, my pens with info on them for customers.
My mailers: I mail what I can afford. Never a postcard, always a nice letter. T65 list is what works for me. My letters specify how each aspect of Medicare works and they appreciate the clarity and then they call me.

Interesting. That's a good way to do it with the dr's offices. I actually have a few clients that are dr's so I am sure I could make this work. I guess I would just have to sort out the details of how all that would work, where I could sit and if I would have any kind of sign etc.. Thanks for the idea. I think i've heard it before but I have not tried it yet.

 

[rmhaire]

What do you do to always keep your pipeline full? I guess I am not sure what you mean by going out and finding something.

Lots of things.

It helps that I've been doing this for 50 years. Talking with existing clients, referrals and such.

Also do DM letters for T65. I do my own. Sets me apart from other agents and carriers. Boomers love that personal touch.

Since I've been here so long and doing business insurance for probably 40 years, I know all the lawyers and CPAs in town. They send me referrals. And since I'm 70 now, it seems like all the damn doctors know me. Get a few from them from time to time.

Also run small business card ads in the local paper and those little flyers you see when you go into a restaurant.

If I need to, I'll pull out my old Frank Statsny hat and make a few cold calls. That approach still works.

Plenty of other ways and tricks but you get my point.

 

[sbg_ben]

Lots of things.

It helps that I've been doing this for 50 years. Talking with existing clients, referrals and such.

Also do DM letters for T65. I do my own. Sets me apart from other agents and carriers. Boomers love that personal touch.

Since I've been here so long and doing business insurance for probably 40 years, I know all the lawyers and CPAs in town. They send me referrals. And since I'm 70 now, it seems like all the damn doctors know me. Get a few from them from time to time.

Also run small business card ads in the local paper and those little flyers you see when you go into a restaurant.

If I need to, I'll pull out my old Frank Statsny hat and make a few cold calls. That approach still works.

Plenty of other ways and tricks but you get my point.

My mentor has been doing this for about the same amount of time and she is getting pretty much the same results as you. She knows everyone in town and gets referrals pretty regularly. She actually doesn't advertise or try anything to get new clients but they just keep coming lol she is "partially retired" but still works quite a bit. I've gotten really close with her so some of those referral sources refer directly to me now, knowing she is slowing down.

I have to be honest i've been very lucky to build a book almost entirely on high quality referrals from my bosses groups or leads passed to be from my mentor with almost 0 marketing or purchasing any leads.

My issue is scaling up. I can do nothing and stuff keeps coming in which is beautiful, but i'd like to pick the pace up to get to where I want to be faster. My lack of experience in working leads from mailers and other sources has made that difficult. I'm trying to change my mindset from taking what comes my way to actively generating new opportunities at all times.

 

[MedicareAgent]

Talk to your agent managers for the companies you represent, they have lots of opportunities. I have agents still sitting at CVS for Aetna and Walgreens for UHC. They have been building a great pipeline.

 

[somarco]

I have to be honest i've been very lucky to build a book almost entirely on high quality referrals from my bosses groups or leads passed to be from my mentor with almost 0 marketing or purchasing any leads.

That's a great business model if you have the time for the fish to come to you . . . but if you want to become a hunter rather than a gatherer you will need to invest in yourself.

However . . .

WHO owns the book of business? You or your bosses? It sounds like they own it and if so, you have nothing when you leave . . . or they decide to leave you.

 

[sbg_ben]

That's a great business model if you have the time for the fish to come to you . . . but if you want to become a hunter rather than a gatherer you will need to invest in yourself.

However . . .

WHO owns the book of business? You or your bosses? It sounds like they own it and if so, you have nothing when you leave . . . or they decide to leave you.

I work for my father in law who is my boss. He is an incredibly loyal and generous person to a fault so i'm not too worried about it. He plans for me to take over the whole business when he is done. The bad part is that it is not all written down in a nice legal document like it should be. That is one of the major things I need to be working on right now. Don't get me wrong, working with family is not all rainbows and butterflies lol there are definitely some downsides.

My mentor sold off a part of her book to us already when she was going to "retire". Then she decided to keep working and she is building up a nice size book again. When she retires, she will sell her book of business to us because she is the one who taught me and she trusts me to take care of people the same way she does.

We also have another agent who is building up a book working for us, she is 65. We will keep her book when she retires. In return, she gets a great place to work and a high commission split.

The thing that has changed my perspective is that I have negotiated to get paid some commissions on new policies, specifically to help me have this mindset. I know I am not living up to my potential, mostly because i've been on a flat salary for years and that is pretty demotivating.

There you go, my whole life story for ya

 

[20th Maine]

Hello,

What are your slowest months of the year? Things are really drying up for me right now so I'm thinking of going after some small groups to keep me busy until Medicare picks up more for me.

Just wondering how busy everyone is at this time of year.. If you are super busy, what is your secret? I'm changing up my marketing plans a bit but it will take a while to see results.

Sell Final Expense! Its EASY (or it used to be---all gone gadgetry now)

PLUS many of the leads you scare up for FE will be good Medicare prospects, and probably have Medicaid or LIS so you can enroll them in MAPD

Sell GTL or other add on to cover MAPD hospital co pays, Terrible value but for the risk averse they love it

Dental, Optical, vision plans? Also should be good MAPD prospects?

 

[MedicareAgent]

"final expense" = chasing your tail.

 

[somarco]

I work for my father in law who is my boss. He is an incredibly loyal and generous person to a fault so i'm not too worried about it. He plans for me to take over the whole business when he is done. The bad part is that it is not all written down in a nice legal document like it should be. That is one of the major things I need to be working on right now. Don't get me wrong, working with family is not all rainbows and butterflies lol there are definitely some downsides.

My first job out of college was similar to yours. I joined a small (one producer) employee benefits firm as producer #2.

The owner was a former VP of group insurance for a reasonably large carrier and still "produced" when he wanted to but mostly passed referral on to the producer who would eventually inherit the business.

The first year I was the lackey and was given all the crap that no one else wanted. I never complained and did very well. They assigned me their largest account to re-solicit for an upcoming open enrollment of voluntary products. No one had worked this account in years so it was fertile ground.

In 4 months I was able to more than double the commission with almost no cost (other than my salary) to the firm. The commission increase was almost 4x what they paid me so I felt secure in my position. The next 6 months or so resulted in new commissions to the agency but not at the same clip as my first assignment.

Then it happened . . .

The producer was made my official boss who promptly fired me without cause and brought in his brother-in-law who had been out of work for several months as my replacement. No severance and no job prospects.

I eventually found a job with a carrier and moved to another town to start over again.

Big companies can screw you over as well but you get paid reasonably well while they are screwing you so it isn't all bad.

I never worked for my FIL but when I was younger I worked for the father of a girl I dated. That was no fun either and another long story.

 

[20th Maine]

"final expense" = chasing your tail.

WOW that was informative.