Success with Ritter Marketing -

[springbokhouston]

Working Medicare is obviously a mindset change insofar as that you should be servicing your customer's needs year after year. That will not only lead to a massive amount of referrals but also persistency far greater than the standard 6 or 7 years that most products pay.

You bring up a great point about how to deal with the younger referrals. I write a substantial amount of IUL specifically used as a retirement vehicle, coupled with structured term products, dental (DVH) etc.

 

[rousemark]

Working Medicare is obviously a mindset change insofar as that you should be servicing your customer's needs year after year. That will not only lead to a massive amount of referrals but also persistency far greater than the standard 6 or 7 years that most products pay.

You bring up a great point about how to deal with the younger referrals. I write a substantial amount of IUL specifically used as a retirement vehicle, coupled with structured term products, dental (DVH) etc.

If you are looking for long term income ULs don't really offer much.. 2%? The DVH can do OK if you have the right contract but I have no idea what the long term persistency on those plans will be. Another is cancer, CI.. easy, non technical sale that can be completed in less than 30 minutes.. average sale around $500 per year.. average first year commission 60% and lifetime renewal 15%.. Of the plans that I have on the books for 20+ years, almost all are cancer plans.... Wish I had written more of them over the years..

 

[Life Hawk]

If you are looking for long term income ULs don't really offer much.. 2%? The DVH can do OK if you have the right contract but I have no idea what the long term persistency on those plans will be. Another is cancer, CI.. easy, non technical sale that can be completed in less than 30 minutes.. average sale around $500 per year.. average first year commission 60% and lifetime renewal 15%.. Of the plans that I have on the books for 20+ years, almost all are cancer plans.... Wish I had written more of them over the years..

Cancer plans come with their own glue. Add a ROP rider and its even better.

Rousemark, any strategies that you use to follow-up sale small cancer plans to your current client base?

 

[rousemark]

Cancer plans come with their own glue. Add a ROP rider and its even better.

Rousemark, any strategies that you use to follow-up sale small cancer plans to your current client base?

Not really.. I just mention them to everyone.. usually at policy delivery of the other product. I prefer to deliver all polices because when I close the in initial sale, I prefer not to linger after getting all the paperwork done. It is at policy delivery that I ask about other products and ask for referrals.

 

[Rirwin]

Most agents can barely figure out what company to use for the customer, that's why they are told to have 2 or 3. You expect them to add Medicare products on top of that?

You're right it can be very profitable for certain individuals, but for most it will result in less income by the end of the year.

 

[SPUR CITY]

Speaking of "long term" residual income, I was talking with an IMO this week about the fact that the biggest mistake I have made financially was to put insurance sales on more or less a part time basis when I was dealing in antiques. Prior to that I had more or less concentrated on Med Supp sales and had built a fairly good renewal base. But, after I slowed down the renewals dropped much more quickly than I expected, primarily because my customer base was dying out. That happens when you are writing mostly seniors. Once you "retire" and quit constantly replacing those that drop off you will be surprised just how "not long term" your renewal income is.. My IMO friend, who concentrates on cancer sales, responded with what I thought was a rather profound statement, "It is hard to build a long term renewal income when the majority of your clients are older than you are".

You talk with EXPERIENCE under your belt. Some, that I personally know, are talking based upon what their "computer projections" tell them because they have no real raw data or experience to back up what they say.

 

[Todd King]

I'm guessing 2. Property and Casualty.

 

[Thedude]

Todd you don't train agents other than a website correct?

You do realize we are talking about average final expense agents here? Something it's starting to look like you know nothing about lol

 

[FinalExpenseDojo.com]

Instead of trying to convince your agents of something they don't really want to do, why not incentivize your agents to get a prior authorization signed with each sale & just have your call center sell the Medicare? Agents win & you win without all the rah rah. If they don't like the deal, they can choose to not participate.

I'll let you know where to send the royalty checks to.

 

[DayTimer]

Another is cancer ... easy, non technical sale that can be completed in less than 30 minutes.. average sale around $500 per year.. average first year commission 60% and lifetime renewal 15%.. Of the plans that I have on the books for 20+ years, almost all are cancer plans.... Wish I had written more of them over the years..

Cancer plans come with their own glue. Add a ROP rider and its even better.

Rousemark, any strategies that you use to follow-up sale small cancer plans to your current client base?

Not really. I just mention them to everyone.. usually at policy delivery of the other product. I prefer to deliver all policies because when I close the in initial sale, I prefer not to linger after getting all the paperwork done. It is at policy delivery that I ask about other products and ask for referrals.

If you look at the thread title, you'd never think you'd run across a gem like this little exchange. Such is life in the FE forumhood.