Talking about other business after Medicare

[JJ2713]

Let's say you don't just do Medicare. You also offer other lines of insurance. Perhaps you're also a retirement planner and discuss annuities, LTC, and life insurance with clients. Or you also just do Final Expense. Etc.

Whatever else you offer...

Once you've taken care of the Medicare plan for your client, what's the best way to go about bringing up your other offerings? And doing so another day, not at the same time as the Supp/Part D or MAPD.

Obviously just saying "hey, do you want to also buy...?" is not the way to do it.

I'm assuming you acting like more of an advisor is the best route to take.

For example (assuming this is a few days later or so)...

"Jane, now that we took care of Medicare and you don't have to worry about health care costs getting out of control, I was thinking of you and your situation. I'm concerned that there are other retirement risks that you're not prepared for. I do this with all of my clients. I don't just help with Medicare, I'm also a (blank) advisor and help with (blank). These risks - (blank) - could really impact your retirement in a negative way, similar to uncapped healthcare costs. However, I help my clients plan correctly so if those risks come about, my clients are prepared and protected. And once you're prepared, you don't have to worry about (the risks)."

Or something similar to that. And you can point them to your website for for information, etc.

I'm just thinking that some people might think you're just trying to sell them something else.

Your thoughts.

 

[Chazm]

If you don’t ask you won’t know. Most will say no thanks but you’ll get extra sales just by asking. Make sure to do a good fact finder on your initial appt to know what to ask about.

 

[PCBI]

Let's say you don't just do Medicare. You also offer other lines of insurance. Perhaps you're also a retirement planner and discuss annuities, LTC, and life insurance with clients. Or you also just do Final Expense. Etc.

Whatever else you offer...

Once you've taken care of the Medicare plan for your client, what's the best way to go about bringing up your other offerings? And doing so another day, not at the same time as the Supp/Part D or MAPD.

Obviously just saying "hey, do you want to also buy...?" is not the way to do it.

I'm assuming you acting like more of an advisor is the best route to take.

For example (assuming this is a few days later or so)...

"Jane, now that we took care of Medicare and you don't have to worry about health care costs getting out of control, I was thinking of you and your situation. I'm concerned that there are other retirement risks that you're not prepared for. I do this with all of my clients. I don't just help with Medicare, I'm also a (blank) advisor and help with (blank). These risks - (blank) - could really impact your retirement in a negative way, similar to uncapped healthcare costs. However, I help my clients plan correctly so if those risks come about, my clients are prepared and protected. And once you're prepared, you don't have to worry about (the risks)."

Or something similar to that. And you can point them to your website for for information, etc.

I'm just thinking that some people might think you're just trying to sell them something else.

Your thoughts.

the mistake i think ur making is starting w medicare

99.9% over 65 already have medicare so why go there until there’s a need???

the medicare salesman is just looking to switch the beneficiary to another plan is their motive. Why not go into the situation marketing non medicare products. A much better strategy

 

[Newby]

There are two very simple ways that I have used. They are so simple and basic that I think many agents who are new will overlook these. They are trying to over complicate things.

First you need to figure out what YOU want to sell. Then focus their arrention on those things.

The most natural one to me and the one I have made the most sales with is ...just assume they have it. And ask.

Who do you guys have your life insurance with?
Who do you guys have your nursing home insurance with? (They often don’t understand the question when you call it Long Term Care Insurance. )
What are you guys doing for retirement income?

Just ask about one thing at a time. And go with that one.

The other method is just have a little word document divided into four squares. Tell them that retirees usually have four areas of concern that you help them with.

Put the paper in front of them as you speak. My four boxes (areas of concern) are:
1. the high cost of medical expenses doctors/hospitals.
2. Leaving a financial burden on their spouse or children upon their death
3. The high cost of nursing homes/long term care
4. Outliving their retirement savings

Which of these things concerns you the most, Mrs. Smith?

The whole thing is to keep it simple. And you need to focus on something. Don’t just ask the what kind of insurance they need. They don’t know. You focus them on something. They either show interest or they don’t.

 

[PCBI]

There are two very simple ways that I have used. They are so simple and basic that I think many agents who are new will overlook these. They are trying to over complicate things.

First you need to figure out what YOU want to sell. Then focus their arrention on those things.

The most natural one to me and the one I have made the most sales with is ...just assume they have it. And ask.

Who do you guys have your life insurance with?
Who do you guys have your nursing home insurance with? (They often don’t understand the question when you call it Long Term Care Insurance. )
What are you guys doing for retirement income?

Just ask about one thing at a time. And go with that one.

The other method is just have a little word document divided into four squares. Tell them that retirees usually have four areas of concern that you help them with.

Put the paper in front of them as you speak. My four boxes (areas of concern) are:
1. the high cost of medical expenses doctors/hospitals.
2. Leaving a financial burden on their spouse or children upon their death
3. The high cost of nursing homes/long term care
4. Outliving their retirement savings

Which of these things concerns you the most, Mrs. Smith?

The whole thing is to keep it simple. And you need to focus on something. Don’t just ask the what kind of insurance they need. They don’t know. You focus them on something. They either show interest or they don’t.

Excellent strategy. Too many agents go in these days thinkn MAPD govt subsidized programs as a door opener. Totally wrong way to go when there is nothing holding bak an insurance agent with multiple product lines other than DNC or mistepresentation. Us old school door knockers dont have red tape govt regulations holding us bak every move we make in the industry. I know many of us were drawn to the freedom of being an entrpeneur not a slave to legislation of political parties just to switch someone to another MAPD plan.

 

[JJ2713]

Not talking about necessarily leading with Medicare. Just curious how others incorporate their entire insurance product offerings with a client.

A fact finder and determining their biggest concerns sounds good.

Also pointing out risks that they may not have thought about also makes sense. For example, many seniors I know haven't even thought about LTC or burial expenses, etc.

 

[PCBI]

[QUOTE="JJ2713, post: eOnce you've taken care of the Medicare plan for your client, what's the best way to go about bringing up your other offerings? And doing so another day, not at the same time as the Supp/Part D or MAPD.

Obviously just saying "hey, do you want to also buy...?" is not the way to do it.tc.[/QUOTE]

reread ur own post
clearly emphasis is Medicare related as initial sale. T65 are bombarded w mailers and are sick of med sup agents calling them

initiate w a niche market imo is dental bc its new. bak in 1994 LTC was hot. Soon another product will surface
like telemedicine becoming vogue.

Dont follow lead is my recommendation.

Maybe with all these zero premium MAPDs Chazm is selling add to his policies a real insurance product.

U may never have to deal w subsidies again

 

[JJ2713]

PCBI...

What do you offer now? Or what's your niche?

I know it's not MAPD.

 

[PCBI]

annuities are bak in favor
dental
hosp indemnity
final expense
alternative health
cancer
med sup

i could retire tomorrow nit worrying about AHIP or MAPD companys

but I have a BOB that needs attention
MAPD will change bc FMO have agents that have lost their commissions so FMO loses too. The main beef I am hearing they are fed up with redundant overkill.

Humana listened and changed ithers will fillow their lead

 

[Todd King]

Not talking about necessarily leading with Medicare. Just curious how others incorporate their entire insurance product offerings with a client.

A fact finder and determining their biggest concerns sounds good.

Also pointing out risks that they may not have thought about also makes sense. For example, many seniors I know haven't even thought about LTC or burial expenses, etc.

Yes, a fact finder is all you need. I have attached one for you here. They work great if you will just use them. Makes for handy note taking as well!