...What am i Missing?

Oct 19, 2007

  1. TonyC
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    TonyC Guru

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    Forgive me for my naivety....but i hear news that some people sell 20-30 individual health policies a mth...!

    Now...i am a beginner...but i was thinking...How can you do this "when you need a physical exam...or blood work?


    What am i missing?
     
    Last edited: Oct 19, 2007
    TonyC, Oct 19, 2007
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  2. Mr. Bill
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    Mr. Bill Guru

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    It's just the pipline - step 1, get them started, step 2, process, step 3 repeat steps 1 and 2
     
    Mr. Bill, Oct 19, 2007
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  3. MIBizInsurance
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    My Wife started to sell individual health a while back. She thought the same thing. That old "pipeline" or funnel is the key.

    It's slow in the beginning but if you are steady in your marketing it pays off.

    I think thats why when we see new people come here and say " I'am financialy straped but will be going into insurance" we wince abit. Having a financial burden and starting in this biz can be very tuff. For some it is a driving force for others a sure path to despair.

    Any how take some time and read the many threads here on marketing there are some great posts full of quality info.
     
  4. CHUMPS FROM OXFORD
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    CHUMPS FROM OXFORD Guru

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    Also...health exams and blood work are only required about .5% of the time.
     
  5. TXINSURANCE
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    or in a day :-)

    You get out what you put in. Think assembly line. I had the good or bad experience of working assembly lines in my blue collar days. A lot of agents think they can put in $200 or $500 and get 100 apps/mo - I can assure you this is not any more possible than the assembly line requiring raw materials for finished products.

    The key is growing as your wallet allows you to do so.

    If your carriers are requiring physicals or APS more than 1% of the time you are pushing the wrong carrier or do not understand your underwriting guidelines. This is VERY VERY rare in my business to get blood or physical requirements. APS sometimes.

    Here is the solution WHEN / IF this happens - sell them a 30,60, 90 day TEMP policy and push the effective date of the long term back - protects them ASAP gives them IMMEDIATE catastrophic coverage while in underwriting.

    You get two sales and client gets instant protection.

    Wait until you have someone end up in the hospital while in underwriting on a long term and you didn't offer them the short term immediate protection that was available. If I see ANY reason for a potential hold up, I can almost assure you we will pair a short term and long term - unless of course they have group / COBRA, or other coverage in place.
     
  6. somarco
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    somarco GA Medicare Expert

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    Not sure I would do that . . .

    The STM has a definitive term. Once that expires there is no renewal. If they had something bad enough to put them in the hospital while the traditional medical was underwritten it will probably result in a rejection, or, at best, a rider/rate up for that condition.

    Most of my applicants are approved in a week or less. The few I have that take longer already have existing coverage and we are just trying to improve their situation.
     
    somarco, Oct 20, 2007
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  7. TonyC
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    Wow...good stuff guys....thanks for helping a newby.

    BTW.....what is APS?

    What is STM (Short term med?)
     
    TonyC, Oct 20, 2007
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  8. CHUMPS FROM OXFORD
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    APS is Attending Physician Statement. Or...Atlanta Phlebitis Syndrome. A rare disease that few people know about. I think Somarco might know more about it!
     
  9. TXINSURANCE
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    It depends on the scenario, some carriers we have do not "lock" in effective dates which makes STM a viable option. However you touch on an important fact that most agents sell STM for all the wrong reasons, that I agree 100%.
     
  10. somarco
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    somarco GA Medicare Expert

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    Gee, Chumps, I wish you had not brought that up. I still get nightmares over my last bout with APS. It drug on for weeks and I thought it would never be over.

    It is not covered by insurance. My last episode cost me close to $3000.

    There is no telling when it might come back. Not sure my bank account can take any more.

    Now STM (sexually transmitted measles) is another story entirely . . .
     
    somarco, Oct 20, 2007
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