Every day we speak with agents about their business and the success that they have found in Medicare Supplement. This makes us feel good, allows us to feel a sense of contentment that agents are benefiting from the resources that we provide them. On the contrary, I speak with a surprising number of agents that want nothing to do with Medicare Supplement. They tell us that “they are too busy to sell Med Supp”, or “there is not enough money to be had in Medicare Supplement insurance”. We know that selling Annuities and/or Life Insurance policies can be very rewarding, and we know that agents can make a very good living without ever stepping foot into the market that is Senior Healthcare. But what are your clients doing when they turn 65? If you are not offering Med Supp to your clients then who is? Wouldn’t you like to be a “one stop shop” for your clients, start to see more referrals coming from clients, and receive “Supplement” commissions for 6-10 years? Take a minute to consider the answers to these questions. With 10,000 Americans turning 65 every day, there has never been a better time to be involved in Medicare Supplements.
If you are not taking care of your clients’ Medicare needs than some agent down the street is, and this may not be a big deal to you. I mean, so what, that agent down the street can take that Med Supp policy and have the commissions…right? Let’s consider the story of insurance agent Benjamin and his client Tom. When Tom asks Benjamin about advice on a Med Supp plan, Benjamin tells Tom that he does not specialize in Medicare, so Tom goes down the road to see Phil. Phil is a one stop agent who does Life, Annuities, and Med Supp amongst other things. Phil happily writes Tom into a Med Supp Plan and Tom is happy with Phil’s service. Phil tells Tom that he appreciates his business and requests that Tom refer any of his friends or family to him when they need Med Supp or any other services that he offers. Phil may have just acquired the easiest type of business that you could ever ask for, the referral business. Now whenever Tom is talking with someone about Medicare, Phil will likely be the first person that comes to mind.
Medicare Supplement Insurance can be a great “supplemental” income for you and your business. If you are interested in using Med Supp to cross-market Life insurance, to deliver on all of your clients’ insurance needs, or earn renewal commissions that regularly pay out for 6-10 years, then consider getting in touch with The Brokerage Resource. One of our Medicare and Senior Solutions Sales Managers would enjoy speaking with you about your business and your involvement in Medicare Supplement.
By Jimmy Keegan
Carolyn Portanova is the Director of Marketing at The Brokerage Resource and has been with the firm since 2012.