SURVEY: Why Do You Like "Health Insurance?"

TonyC

Guru
100+ Post Club
446
I am TAKIN a poll on the pros and cons of selling each type of insurance.

I thought it would be good information to share and help agents to better enjoy what they are doing and learn the both the pros and cons of each.

Please...add your 2 cents in a constructive way...or if you can't be positive...give us your negative view without bashing the industry (if possible).

PROS: Health insurance is a in-demand product. Most ppl know they need it...so its not that difficult to sell...only the budget they can afford. I usually sign up individual fairly easy...with one -to - three phone calls...and one meeting.

$: Group health is paying me about 10% per year...which is great. I try to focus on this.

CONS: Health Ins. is pretty boring. Not very sexy...and not much in the way of litigation....sometimes its tough when someone doesn't qualify for coverage.
 
I originally started at a P&C Agency (business) that also sold group benefits. After 3 years, I decided to move to a Benefits Agency because I enjoyed selling an emotion based product (health) in contrast to a bottom line product (p&c).

Now with Obamacare and the outlook for health insurance, I wish I had a time machine.
 
Last edited:
I love to sell health insurance because:

1. health insurance and health reform is one of the hottest topics for the past 3 years. Constant change, makes it an exciting industry.

2. I like saving people a lot of money, more than any other insurance line. No jumping to Geico for $10/mo savings, we're talking hundreds of dollars on the #3 budget cost for most families

3. I like protecting their health correctly, with real major medical including Rx, when budget permits.

4. I love re-educating the public on how to buy health insurance.....the HSA way

5. I can sell online in my pajamas, and avoid the cost of gas, dry cleaners, printing, shavers, and water for the shower. :) And raise my kids the right way...

And 6. It's a high margin, low capital, low overhead, no inventory, online, home based business.
 
Last edited:
^^ Yes...i forgot to add....you can (if you are slick) work from Home and lower your stress level.

Of course, closing in person is easier...and that would also lower your stress level because you can get paid easier...and your aps. stick better.

~T
- - - - - - - - - - - - - - - - - -
I originally started at a P&C Agency (business) that also sold group benefits. After 3 years, I decided to move to a Benefits Agency because I enjoyed selling an emotion based product (health) in contrast to a bottom line product (p&c).

Now with Obamacare and the outlook for health insurance, I wish I had a time machine.

LOM...are you saying your wish you we back in PC?

Why not just drop health...and go back?
 
Last edited:
No, I am saying if I knew then what I know now, I would have continued selling both P&C and Health. But no, I have no interest in going back to P&C after not selling it for 22 years.
 
I love to sell health insurance because:

4. I love re-educating the public on how to buy health insurance.


Cheers to that!

For clients coming off employers' group/COBRA it really is a lesson - Stop right there Joe Prospect!

Lesson 1 "Health Insurance is a financial protection tool at best"
 
Of course, closing in person is easier...and that would also lower your stress level because you can get paid easier...and your aps. stick better.

I disagree. First, I won't visit anyone unless policy is already pre-sold. But I find my F2F meetings to be the kiss of death. Less than 50% approval rate. Even with an extensive pre-screen, there always seems to be a skeleton in closet that pops up at the meeting. F2F has no effect on your success in getting thru underwriting.

NON F2F meetings are more comfortable to the client who may be embarrassed about sharing certain medical conditions, and most people want to work online, on their own schedule, when they are ready.

I'll agree, Medicare bene's do require more F2F, but policy is already pre-sold before meeting with them.
 
LOL

"10% on group health" Are you crazy? Try less than 5%.

Cons: everyone is pissed off. Every meeting you go into no one is happy. You can go into a group and save 30% and the employees will be mad about something.

Pros: If you can hang in there and grow thick skin you make a nice living.
 
LOL

Cons: everyone is pissed off. Every meeting you go into no one is happy. .

I am so glad i don't do group. Too many opportunities for negative discussions amongst employees, and disenchantment festers. My IFP clients never speak with each other. Group is at the tipping point of collapse.
 
I only sell health by accident (meaning by referral) these days and I couldn't be happier about it. By now, everyone has had some kind of shitty experience with every health insurer out there.

Common complaints are:

It's too expensive
They denied my (or my best friend's) claims
The premiums go up even though I never used it
Coinsurance is a con-job

Among others that I can't even remember now. No love for health insurance at all. It's great to be able to save people big money and that's the only reason that I do it now, but it's rarely a conversation people enjoy or want to have. If I had it all to do over again, I wouldn't have gotten into that line at all.

Your mileage may vary...
 
Back
Top