The 2018 Mid-Term elections are over and the impact on the future of health insurance, including Medicare insurance, is in the news. NAHU (National Association of Health Underwriters) is an organization that we are a part of (and you should consider…
Today I covered some recent questions that are being asked by agents out there engaging seniors – awesome! Also I cover an uncomfortable topic that, if you don't know, could ruin your day with a lawsuit. Important info. Lastly, I…
Excerpt from https://www.salesgravy.com/sales-articles/automotive/five-lessons-i-learned-at-starbucks.html
“Lesson #1 – Make sure you ask for the business. I have just watched a beggar collect at least $5 worth of donations in the last half hour with a sign that says – “I am saving up for a hooker, weed, wine and a steak dinner.” Not one of the people bothered to read his sign and know what they were even donating for. Not the family man with his wife and children, not the group of older people probably in their 80s, not the business man in the suit, nobody. The beggar obviously learned the power of asking, no matter what.
Lesson #2 – It’s not the money. People pile into Starbucks one after another spending three and four bucks on of a cup coffee. Obviously you can get a cup of coffee at a diner down the street for a lot less money. But yet, people willingly spend a $100 per month or more at Starbucks. Why?
People are buying the experience and the perception of the brand. I am sitting here writing this article in a busy Starbucks and people watching when I could be in the quiet and seclusion of my nice hotel room. The person in the seat next to me is listening to music on an iPod when they could obviously do it for free in the Square with a less expensive cup of coffee. The gentleman in the big living room type chair is reading a novel. People want the experience. Understand your customer and the value they want and the money will become less important. The big three U.S. auto manufacturers give huge rebates, and imports are still kicking their butts. It’s not about the money.”
I'm always surprised with agents who are failing at business discover that it was because they were not asking for the business. They would present options and then just leave it, never politely suggesting that the client move forward with an application.
And, if you feel the product costs too much, it's too hard for them to sign up online with you, or it's crazy for you to ask for their personal information over the phone – so will they. YOUR objection will become their objection. It's true! You have to be convinced, first, that the sale is in their best interest. When you are convinced, get out of your own way – ask for the sale and deserve it and you'll have it.
Personal observation in my neighborhood about positioning and the insurance professional.
If you are considering local marketing, please use the methods described in this post.
The results are much better and the positioning makes you out as the expert you are.
Leaving flyers, door to door, for insurance leads is not only a tough way to go, but doing this yourself means you have nothing better to do and leaves you in a very bad position in the mind of your prospect. There is a way to do it where you can introduce yourself, show what you have to offer (much better than a corporate brochure) and have others deliver these packets much more efficiently FOR YOU.
It is ALWAYS better when you develop your own leads for insurance sales. Rather than relying on lead vendors, who very often rip off the unsuspecting agent, when you learn to create your own leads you can control the quality, the quantity of leads, and your costs along the way.
On November 15, 2014, Chris Westfall was interviewed on the “Money Matters” radio program on WSC 94.3FM in Charleston, SC.
The show's host, Rick Durkee, is a well known financial advisor in the greater Charleston area with a financial services firm dedicated to those that are retiring or already in retirement. Chris met Rick through a mutual friend at the radio station and Chris was invited to be a guest on the show, in recognition of the “Medicare season” going on.
Here is the interview, edited by Chris for brevity (commercials removed):
This is a public post answering the question, “When is the best time to start my new Medicare Supplement plan.”
See the video:
This answers the question as to the best effective date for a new Medigap plan.
NOTE: For those on Medicare Disability, and turning 65, the effective date of their >65 Medicare Supplement has to be ON THEIR exact birthday… NOT on the first of their birthday month.
Why? Because since they're already on <65 Medicare, due to disability, THEIR Open Enrollment period starts actually on their birthday. So, you can write Plan G, etc. because of Open Enrollment, but it cannot start before their actual birth day.
As to when Medicare, itself, starts:
When will my Medicare coverage start?
If you sign up for Part A (if you have to buy it) and/or Part B in this month:
Your coverage starts:
The month you turn 65
1 month after you sign up
1 month after you turn 65
2 months after you sign up
2 months after you turn 65
3 months after you sign up
3 months after you turn 65
3 months after you sign up
During the January 1–March 31 General Enrollment Period
Once the product knowledge is digested, the overall important factor that stands between potential failure or success is training in successful marketing. As insurance agents, it is our mission to help others and we are fairly compensated to the extent that we are able to help more people.
Helping seniors with their Medicare plans is, indeed, rewarding.
The satisfaction of being able to help someone to resolve their confusion and find the best value possible for their chosen plan makes you sleep very well at night.
Our agency has experience in selling Medicare Supplement plans 100% by telephone. This way, our senior clients are not feeling intruded upon by having to meet with an agent in their home or in the agent's office. The convenience by which we are able to transact their Medicare decision is not only comfortable for them but very convenient. We do this through a systematic way of first, building trust, and then showing them their options.
Education then turns to a common sense call to action only when it is in their best interest to take such action.
By consistently reaching out to seniors that we can help, and by consistently providing solutions to those orphaned clients of other agents gone by, we will continue to build a growing, residual income by putting the needs of others before our own.