Sterling Health Plans

[Isabel]

Sterling Health Plans offers Medicare and Medicare Advantage plans for seniors. Here is my review

Hi Everyone,

I have an interview with Sterling Health Plans and I was wondering if any one here has worked for them and any imput and advice on the company and working for them. I am currently not licensed, so I am very new to insurance.

Thanks
Isabel

 

[midwestbroker]

Depends where you live.

I looked into them prior to AEP. I did not see a whole lot of difference between going captive vs independent with other products. They gave you a list to call and set you own appointments. Their products were middle of the road in value. Granted you had to be captive to sell them, but there were better products in the area.

 

[Newby]

Hi Everyone,

I have an interview with Sterling Health Plans and I was wondering if any one here has worked for them and any imput and advice on the company and working for them. I am currently not licensed, so I am very new to insurance.

Thanks
Isabel

I have a friend that signed on with them last summer. He had been very successful selling final expense for about 5-years. He said he never made more phone calls in his life than he did with Sterling. Stayed with them for 3-months but hardly sold anything.

Their name isn't well recognized and they are not priced very competitively.

 

[diversified Insurance Bro]

Current

 

[James]

Ex

 

[tommyk]

Sterling Health Plans has a new owner. They were previously owned by AON Corporation out of Chicago along with Combined Insurance Co.
Combined has been purchased by a Company out of Florida and Sterling Health Plans has been purchased by an Insurance Company from Munich, Germany: Munich RE
The switch in owners for Sterling Health Plans takes effect the end of March 2008.
Munich is reported bringing new products and enhancements to what Sterling has.
There won't be the call list, from what I understand. There will be a new high tech way to doing business.
It all sounds good, since those working for Sterling Health Plans have been struggeling since last June when the company removed selling their PFFS.
Pay structure is yet to be determined.

 

[theinuranceguy]

From what I've heard, again, from what I've heard, they really dont pay much for MA plans, and the pay for Life Insurance is a set comp, instead of a % comp.

Could be wrong. But they do have a very high turnover rate.... Not A Good Sign.

But I am sure they have people there making money, just like NAA and Primerica

 

[tommyk]

Insurance Guy:

You are correct. They did not pay much for a MA plan. It was $150 per plan. They did have a monthly bonus structure based on points, which earned the agent an additional $1000 a month, if they made their points, But you had to be there the last day of the following month to actually receive the bonus.

But the new pay structure is coming the end of the month, so they can only hope that it goes up.

Turn over was slow where I observed it at. Just could not recruit enough people. Had a lot of interest, but it takes them about 4 weeks to go through all the paperwork to get some one hired and to school. Too much lag time in there to hold the interest.

They were always on the telephones calling from a list...(some called it the dead list, as many were deceased) or the phone numbers were disconnected...sounds like a nursing home move for the age.

When they quit selling MA's, there was no back up plan to sell anything else, or what they did offer was not competitive.

Good commercials on TV though.

 

[Insuranceagent4life]

Much of the info is wrong on these threads. How would I know? I was the MM for over 2 years and hired a majority of the agents. I left for a reason. They still sell MA PFFS until 2010. They will need to replace them then. The agents place calls from a list, which as of Sept. 18, that list is no longer available. They work now from a mass mail campaign, which will get little response due to the lack of name presence in most markets. Most of my agents made ok money, but worked waaaaaaayyyyy too hard to get it. Pressure sales is what the they coach, mentor and train. Do it right and you don't have to pressure!! Need more info just ask. Great benefits though.

 

[midwestbroker]

You were their MM? Marketing manager or their version of a white rapper?