Vets Please Tell Me

[Augustus]

I started out in FE. I do like FE a lot but have experienced some tough times here and there with the clientele that I deal with. Been some wonderful peaks as equally some low valleys. Not complaining as I don't buy leads and prospect on my own.

I feel Fe is very easy to learn and sell given enough prospects.

My question is FE vs. medsupps?

Should I delve into this world? I have initally started to scratch the surface of studying it and it seems overwhelming! What I mean is the content.

I've read here where it is easy, but initally it appears to be greek to me. I suppose the fuzzy picture I have now will become clearer as time passes but right now it seems as though it may be a long time.

In the FE market most people I contact are generally pretty friendly. I am not sure if this might be the case for Medsupps as they are heavily marketed to. Don't get me wrong, I'm as callous as they come when it comes to prospecting so meanies don't bother me, just wanted yall's input on the prospecting of these potential clients.

I like the persistency rates touted for this market and REALLY love the residuals.

Guys and Gals, I guess, where would or is your focus? I don't want to get down the road 3 years from now and wish I should have pursued medsupps if it's just as easy as FE but more rewarding.

As they say on call in radio, I'll hang up and listen now!

 

[hockeyday]

med sup 67 plus not marketed to at all and very happy to talk with you, why because they havent seen their agent since age 65

 

[MedSuppPro]

Yesterday a 68 was very happy to learn about and sign-up for a MedSupp. He has had 3 different MA plans since T-65 and never had an agent explain how Medicare and a Supp work together.

He said something interesting: "Seems all they wanted to do was sign me up, and if they had showed me a MedSupp I would have gotten that instead".

Imagine that, almost 4 years of not knowing about MedSupp's.

One of the most important skills, that you probably already know, is to do a lot of listening.

 

[kvarvel]

Med supps are pulling right now!

 

[hockeyday]

don't waste your time on turning 65 people , when you go to their house they will have a stack of Medicare junk 1 foot high and they know it all

 

[Russ]

don't waste your time on turning 65 people , when you go to their house they will have a stack of Medicare junk 1 foot high and they know it all

I've written quite a few T65's the last few months and several of them were waiting for an agent to talk to them.

 

[Frank Stastny]

med sup 67 plus not marketed to at all and very happy to talk with you, why because they havent seen their agent since age 65

Spot on! I have written a lot of Med Supps simply because the prospect if fed up with trying over and over again to talk to their agent and not getting any response.

I only attempt to contact seniors between the ages of 67 and 78 for that very reason. I gave up a long time ago of trying to market to T65.
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One of the most important skills, that you probably already know, is to do a lot of listening.

Excellent advice.

One of my favorite sayings is, "You never learn anything when you are talking".
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they know it all

That has always been my experience also.

I liken them to a 16 year old boy. At sixteen he knows "everything", his father is typically the dumbest person on earth. However, when he begins to mature he wakes up one morning and says to himself, "self, maybe dad was right about that, maybe he is a little smarter than I thought he was."

That is kind of like I have found most seniors who are turning age 65. That's why I wait to contact them until they are 67. They have "matured" by then and are willing to listen to what I have to say.
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I've written quite a few T65's the last few months and several of them were waiting for an agent to talk to them.

I have tried several times to market to T65's. I have always been successful in selling Med Supps to them but I have found it so much more difficult and time consuming that I really don't spend much time doing it anymore. I can sell several policies to those between 67 and 78 during the time it takes me to sell one to a senior who is T65.

I would love to know what you are doing differently that enables you to be so successful selling to T65 seniors. All the T65 seniors that I have called have been inundated by calls from agents when I contact them. Are you fortunate enough to be the first agent to talk to them? If so, how are you doing that?

That is the part of working the senior market that I have never been able to master.
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My question is FE vs. medsupps?

Should I delve into this world? I have initally started to scratch the surface of studying it and it seems overwhelming! What I mean is the content...

Guys and Gals, I guess, where would or is your focus? I don't want to get down the road 3 years from now and wish I should have pursued medsupps if it's just as easy as FE but more rewarding.

Med Supps are almost as easy to understand as FE insurance. The policies themselves are "cut and dry". It's understanding Medicare and how Med Supps work that is what the agent needs to know to answer questions and dispel objections. However, that is not that difficult either.

The main problem is that there are very few places an agent can go to get the information.

Med Supps are so much easier to prospect for and sell than any other kind of insurance, at least I have found that to be true. I have sold tons of FE insurance and have never once prospected for it. Every FE app I have ever written has originated from a Med Supp appointment.

I save everyone I write a Med Supp for money over what they were paying. I simply suggest to them that they may want to consider reinvesting some of that savings in a FE policy. The key to successfully doing that is that I'm not using any "new money". I'm using money they already have budgeted and have been spending. There really isn't any "selling" involved.

More often than not an agent can double their commission on the Med Supp simply by making that suggestion.

 

[Chazm]

I want to sell more med supps to people 67-78 but my problem is prospecting them. When I usually call a t65 I make sure I start off with 3 quick things...my name, what company I am with and why I am calling. If I were calling over 65 I assume it would be the same thing, but what do you guys say you are calling for?

I know it's just having a conversation with them, but you still have to somehow grab their attention immediately.

And I agree with you Frank, the t65 people are a pain in the butt and they are know it all's

 

[Russ]

Frank Stastny said......

"I would love to know what you are doing differently that enables you to be so successful selling to T65 seniors. All the T65 seniors that I have called have been inundated by calls from agents when I contact them. Are you fortunate enough to be the first agent to talk to them? If so, how are you doing that?"..........



Mutual of Omaha allows you to write them up to 6 months before turning 65. Most other companies, it's 3 months. I get a jump on most other agents.

 

[GreenSky]

Mutual of Omaha allows you to write them up to 6 months before turning 65. Most other companies, it's 3 months. I get a jump on most other agents.

How do you indicate their medicare number 6 months in advance? Do you guess?

Rick