The Resource Blog
|
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 Our quote engine will deliver results for all of our carriers and all plans offered in the selected state. Plans A and F are always offered by all carriers.
Generally with most carriers, the most popular plans is Plan F for Medicare Supplement. Plan G is very similar to Plan F, the only difference being a $147 annual physician deductible. Often the premium savings by purchasing Plan G, instead of Plan F, will be more than $147 per year. You have the option of selecting household discounts when running the rates, as well as applying any underwriting that may be necessary for your client. Quotes can then be downloaded via Excel or PDF format, or can be printed. According to the National Association of Insurance Carriers, 58% of Medigap beneficiaries were women in 2012, with 40% of enrollees earning lower than $30,000 per year. To read the full report, click here.
Beginning in June, Cigna will be overhauling their Underwriting criteria, and previously un-qualified applicants will now be able to obtain coverage. Prior conditions, such as Diabetes, Coronary Artery Disease and COPD will now be considered when the application goes to Underwriting. Height and weight will no longer determine coverage for an applicant. And among other newly accepted health-related conditions are Alzheimer's and Parkinson's Diseases. For a complete listing, please click here. Don't forget these other important and compelling reasons for writing a Medicare Supplement policy with Cigna:
By Carolyn Portanova Effective April 1st, 2015, Mutual of Omaha Insurance Company will be issuing a 12% household discount for North Carolina and Nebraska Medicare Supplement policies. Typically they have offered a 7% household discount in the past. This is an unprecedented amount, and now is the time to offer a Plan F or a Plan G with Mutual of Omaha to your clients. For complete details regarding the household discount, click here. For access to the new North Carolina Outlines of Coverage, please click here. Don't forget these other compelling reasons for writing a Medicare Supplement policy with Mutual of Omaha:
By Carolyn Portanova |
Categories
All
|
Connect800.928.4998
919.489.3600 919.419.0401 (fax) info@tbrins.com 1480 Chapel Ridge Road Suite 200 Apex, NC 27502 |
The Brokerage Resource, LLC. © 2024
|
|