From a forum post by Christopher Westfall
I started by doing final expense two days per week and Med Supps the other four (worked six days). Had a family of six to feed and failure was not an option.
This kept a very good income, while building my Medicare block at the same time.
Unfortunately, many people look at this as either a “Get Rich Quick” opportunity or a hobby. They expect to invest nothing, chase continual offers of “free leads”, etc. and cannot for a minute fathom putting money into their own business.
This is just like a franchise opportunity, except that there is a much smaller barrier to entry. You can start small and stay small, eventually quit like 80% do, or you can treat it like the business that it is and put money into it, expecting a result.
Unlike a franchise, you can be profitable and doing very well in this industry in under two years without mortgaging your entire future. That is, unless you've taken one of those “free leads” deals and sold your future renewals by way of a smaller contract on the back end.
As for ages, I have found the most success by fishing in the blue ocean. By that I mean that there is a red ocean, where all of the sharks are pouncing on, in this case, the Turning-65 senior. Everyone has the same plan and they're all tripping over each other to fight for the same, finite group of people.
Meanwhile, I'm in the blue ocean calling on people who have not heard from their agent in two, three, or more years. These people are frustrated with their rate increase and do not know where to turn. I don't have agents coming right behind me or competing for the same client in the same space.
So, I would encourage you to diversify your business to survive today and still build your Medicare supplement renewals at the same time. It is simple to do both, as neither are complicated.
As to the geography of being limited by plans, that is only in your mind. There are no geographical limitations to where you can sell medicare supplements.. so find a market where you can sell entirely by phone to an under-served market. On this site, you can learn how to sell medicare supplements by phone easily.
You can even get good at locating where the major player are announcing significant rate increases, and a new carrier is launching in that same state. I call that the perfect storm.
Lastly, do not give your insurance contract to someone that you know, up front, is not offering training.
Yes, you can pay to get training elsewhere, but that is the quid pro quo for having given your contract in the first place.
Best of luck… remember to treat it like the business it is.
It requires relentless persistence on your part, taking care of your clients continuously, and beginning with the end in mind.
You could find yourself five years from now with a very significant residual income and a constant flow of referrals to new clients.