Turning Medicare Supplements into Annuity sales

[Robert Hall]

I had a guy tell me that he is converting 25% of all of his Med Supp sales into annuity sales. Is there anyone out there doing that?

 

[Todd King]

I sure would like to know if there is anyone doing that as well! I personally can't see it happening, but who knows. Maybe they only market to higher net worth people. Who knows, but it is a little difficult to believe.

 

[somarco]

Immediate or deferred?

I also call BS. Would like to know his strategy.

 

[Todd King]

Immediate or deferred?

I also call BS. Would like to know his strategy.

Now, I never thought about the kind of annuity he might be selling. Heck, it could be a fixed premium annuity. $25 bucks a month isn't necessarily hard to sell, but it won't make you very much money.

 

[somarco]

I am aware of agents who roll money into an immediate annuity. Not sure I agree with that approach but I suppose it makes sense for some. Often, but not always, it's rolling over a lump sum distribution and creating a lifetime stream of income.

 

[Glen Shelton]

I have definitely spoken with many agents over the years who can consistently convert 5% to about 10% of their Med Supp BOB into some type of cash policy/annuity sale (believe it or not, even some FE agents are doing this!)

25% though seems pretty high ... I would be curious to see the process

 

[Robert Hall]

I'm one of the Top annuity producers in the country. This agent claims that he can do 13 million in FIA business. I just find that hard to believe. I agree with everyone. I'm going to feel this guy out. If anything actually comes out of it I will let you all know.

 

[somarco]

I'm one of the Top annuity producers in the country

Clothing business didn't work out?

 

[Todd King]

LOL....nah, I do believe he is quite a bit younger than that!

 

[somarco]

LOL....nah, I do believe he is quite a bit younger than that!

Then he may not appreciate the humor . . .