Wrote my first AARP Med. Sup. today !

Jan 18, 2008

  1. allhealthandlife
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    allhealthandlife Guest

    It sure is nice to have no underwriting, have the lowest premium and the best name recognition in the business.In Florida there plan J is cheaper than C.

    Makes replacing Banker's Life even easier !

    I love AARP now !
     
  2. TXINSURANCE
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    TXINSURANCE Guru

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    So how much is the commission?

    Congrats on your sale.
     
  3. allhealthandlife
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    allhealthandlife Guest

    Thanks. 285.00 advance and 172.00 renewals yr 2-6 but i feel it's worth it since it will be hard for another agent to replace and if you add the AARP rx commish at 95.00 it's the same as a MAPD without all the costomer service work.

    I had to collect 12.50 for ARRP dues.That was kinda freaky.
     
  4. TXINSURANCE
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    Jeeze that commission is horrible - how do they expect you to eat?

    Hopefully you will make it up in the life of the policy.
     
  5. allhealthandlife
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    allhealthandlife Guest

    They did give me enough leads to write 137 MAPD for AEP and over 600 for 2007 and yes i sell a couple of final expense a week. Now i have something to sell those who don't like MA.

    I don't know about your state but in Florida AARP was the supplement to beat.Now that it is the hands of brokers i fear for my book of Med Supp business with Genworth, Sterling,and United World
     
  6. TXINSURANCE
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    AARP is the name, that is the bottom line...

    You can't fight the 800# gorilla in the room.
     
  7. sman
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    You can in Georgia. AARP Plan F - $158.75 per month. United World - Female - $103.23 / Male - $118.65. I rarely lose out to AARP.

    With that said, the new AARP plan isn't ready in Georgia yet. I look forward to having it my quiver. At that point, I should never lose a Med Supp sale.

    As for your statement about the commissions being low, what are you getting paid on Med Supps?
     
    sman, Jan 19, 2008
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  8. moonlightandmargaritas
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    moonlightandmargaritas Guru

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    I'm not active in the senior market, but I think I read that Blue Cross Blue Shield of Florida has a huge Medicare supplement marketshare, somewhere in the 40-50% range...
     
  9. Winter_123
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    Of course, underwriting is a factor too, not just premiums even if you are in a state where AARP can be beaten pricewise. If they get a good price but have to jump through hoops to answer medical questions then that is not a good thing. You are good to go with AARP med supps as long as you dont have ESRD.

    The other thing, and I know this is a state by state issue and may not apply, but in my state you have to physically deliver a med supp policy so that is another trip and hassle. With AARP it is actually a group certificate which they mail saving a trip. If it were technically an individual policy it would have to be hand delivered.

    Winter
     
  10. sman
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    sman Guru

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    Answering health questions is considered jumping through hoops? There are 14 questions on the United World app. I can run through them in about 2 minutes with a prospect (over the phone). If they can answer "no" to those questions, there in.

    "Mr. & Mrs. Prospect, do you mind taking 2 minutes to answer a few questions or would you rather just spend an extra $1,100 a year and go with AARP (United Healthcare) for the same coverage so you don't have to answer these questions?"

    I never get, "No, answering those questions are too much of a hassle. We'll just go with AARP. We've got money to burn"

    I'd say those are 2 minutes well spent, wouldn't you? Now if they do answer yes to any of those questions, once the AARP Med Supp is available here in Georgia, I'll write it in that situation. To not give someone the option to save the money is not serving the client.

    As far as delivering the policy, you are correct, it must be different in your state. I might hand deliver 2 out of 100 policies. In addition, I can enroll someone electronically with United World. I never have to get a form signed, collect a premium or anything. I just complete the app online and they receive an email and do an electronic signature. Of course, if they don't have email or would prefer to sign papers, I just mail it to them, fax the app in, wait for the policy and then mail it to the client.

    Now when the new AARP Med Supp is available in Georgia, if the prices are comparable, I'll still show the client other Med Supps and let them make the decision. I will have no problem selling the AARP if it's close in price. But as long as there is that big of a discrepancy, I will let the client see what's available and make a value decision. If it's the AARP Med Supp, that's ok with me.
     
    sman, Jan 19, 2008
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