How to Mail Policies to Clients

When Chris Westfall mails policies to clients (which is required in certain states like LA, WV), he does so in a “priority express” envelope that gets special treatment/perception by the client, but costs no more than first-class postage. These envelopes do not require Priority or Express postage – mere first class stamps!

See the video explanation:

You can get these priority/urgent envelopes here:
http://3dmailresults.com/product-category/express-envelopes/

 

Medicare Supplement Training

Can you start selling Medicare part-time?

A recent post Chris made on the insurance forums:

Originally Posted by sirherbie View Post

“I really can't recall reading anyone who just started from day 1 selling 3-5 med sups a week yr round? It just seems med sups are part time selling for 3-5 yrs till it builds up and you're making $100k plus a yr”

When I started selling Medicare Supplements by phone, I was using direct mail from Mainstreet Powermail and relied heavily on their experience with historical response rates to guide where I would do the mailings. As I could mail anywhere in any state, I asked their rep for guidance as to the absolute best state response rates in the country and then in that best state. Believe it or not, I was getting 4 to 6% response rates in Michigan at the time.

I was writing 3 to 5 deals a week and only working Med Supps two days a week in the early days. I then continued to mail, fill the pipeline, and moved eventually to doing it five days a week, away from a mix of doing local final expense sales in person. Making that transition was a balancing act, because the final expense sales paid more, up front, but I knew from the residual income aspect that it was a better, long term play to get into the Medicare Supplements.

When the direct mail returns started to go down and we had two postage rate increases close to each other, I turned to telemarketing. I paid a local guy to do my calling and he would gauge interest and then build me up to the potential client on the phone, setting an appointment for me to go over their options based on how much they would save by switching to a new carrier on the same plan. This, too, worked very consistently.

Fast forward six years later and the phone rings all week from referrals now.
I write three to eight deals every week from referrals, spouses of clients, or posts I've put on the internet that are discovered by those shopping.

It is nice not having to do outbound marketing. This is something that I was told, early on, would happen but was hard to believe when it felt like it was so hard to get any traction in the business.

As to:

Originally Posted by sirherbie View Post

“It just seems med sups are part time selling for 3-5 yrs till it builds up and you're making $100k plus a yr”

You can do it part-time and get there slower, for sure. I know many agents who started selling Medicare Supplements at night after their full-time jobs. I started part-time doing it just two days per week but set those entire days aside to concentrate on this aspect of my business before going full-time.

If I had it to do over again, I would have done it the exact same way. I probably worked 30 hours in those two days, early on. I know for a fact that it greatly depends on how hungry you are. I see, day in and day out, agents who rely on their spouse's income to support their family and they treat their business as a part-time hobby. That won't cut it. Those in that scenario do not have the fortitude to weather the rejection and stay long enough to enjoy the income.

On the other hand, I see agents who commit to cutting their safety net and it is sink or swim. They swim. Their commitment level is do or die and that makes all of the difference in their mindset to working the hours necessary and doing whatever it takes to make enough presentations.

Whichever direction you choose to go in, I strongly suggest investing in help with the prospecting, then the prospecting and pre-screening as soon as you can afford to do so. There is no greater time waster than spending YOUR valuable, limited and precious time with those that are uninterested. Even worse is spending 95% of your time with those that are uninterested and even if they were interested, unqualified to take action (due to health, qualification to buy a Med Supp, etc.).

I continue to find it extremely liberating to have someone on your schedule that understands what you do, knows the price of the best plan for them, knows that they will likely qualify based on the health questions OF that plan and knows exactly what their savings will be once they consummate that transaction with you.

This was my best lesson learned in this business:

 

I wish you the best, but it's a decision, really.
CW

 

Medicare Supplement Training

1Q 2014 Lead Generation Report

As mentioned in the first webinar of 2014, we have a study going on with the following lead sources for the first quarter of 2014.

1) Internet leads targeting Medicare Supplement online leads

– Using AllWebLeads / InsuranceLeads.com

2) Direct Mail to 68-72 year olds.  4,000 pieces mailed, split between:

– Using Kramer Lead Marketing's “Medicare Comparison” piece and

– Using LeadConnections.com “E-80” lead piece

3) Telemarketed Leads using the new discount with the phone room with USA operators.

The study is well underway and updates will be sent to all members when ready.

The final report is here.

Members-Only