Ancillary products

[somarco]

I am considering offering some ancillary products to business clients and wanted to get feedback on some of the newer plans in addition to the more traditional.

Is anyone marketing:

auto club

prepaid legal services

hearing aid services

payroll debit cards

vision

EPLI

Among the more traditional (dental, LTD, STD, executive carve out) what seems to be the best sellers?

thx

 

[midwestbroker]

I always seem to be hit up by Pre Paid Legal. I have heard some good about their program, but I am just hesitant to join the MLM world.

 

[somarco]

PPL (the MLM) is not the only prepaid legal services plan, but perhaps the best known.

 

[Bob_The_Insurance_Guy]

Prepaid Legal, while a MLM, happens to be a good product. For a long time, I was not only a member, but a sales rep as well. I made it clear to the person that got me involved that I wanted no part of the MLM portion of it. She did not pressure me to do so, and I was somewhat successful selling it.

We have used many times, and have been happy with the response time, the representation, and the customer service.

I can't speak for the other items you listed, but PPL is a good product to sell. Just make it clear to the person who signs you up as a rep that you want no part of the MLM portion of it.

When I left someone's office or house where the health app was not completed, the PPL app was completed, and with a $25 check in hand. It's a great way not to leave empty handed.

 

[dvd493]

I've been a memeber of Pre Paid Legal for many years now. I never had a problem with them. They have saved me a lot of money on legal fees over the years. They are well worth the 25.00 a month. Two months ago I signed up for there identity theft product for another 10.00 a month. They not only look at credit reports for unusual activity but they go to small court houses where you've lived before and other places ID theft companies generally don't look at.

They do that to make sure there is no strange activity going on. I get a monthly report sent to me via email. It's great and the attorneys are A rated by Martindale Hubble. I can't say enough positive things about pre paid legal. I can't tell you what a relief it is to be able to pick up the phone and call my attorney without having to think about the cost. If I thought about the cost, I would never have called an attorney and would have suffered for it.

 

[cod8825]

Bob,

You stated that you where somewhat successful with the product I am not asking for a specific number but how well did you do?

Also how long where you invovled in it as I was also looking at as well.

 

[somarco]

Cod -

I have not sold a significant amount of any of the products listed, which is why I am looking for feedback. The only products listed that are not "mainstream" where I have had limited success in the past are vision care & prepaid legal services. I mostly dabbled in those areas, made a few sales, lost interest & moved on.

My focus for most of my career has been group health insurance, primarily large cases (fully insured, ASO & self funded). I left that segment a few years ago, did other things, then got back in the business about 3 years ago concentrating mostly on individual & small business accounts.

The listed products are mostly geared toward very large groups but I am not sure I want to re-enter that market, and especially with a product that is mostly unproven. Some of them can be adapted to small group but I view them more as door openers than a steady income source.

 

[Crabcake Johnny]

There is a great theory that's hard to argue with in principle that your current clients already like and trust you so why not offer them more products. In reality it seldom works. My other issue is decent ancillary products that actually perform well. I don't need to lose a client because the dental/vision plan I sold them sucks.

What's worked best for me - and I'm sure this will bring debate - is just ton concentrate on health insurance. Period. To me, offering this huge array of products is kinda like a successful Italian restaurant deciding to offer Chinese food in hopes of getting more customers. After all, it's all food, right?

 

[J.R.]

There is a great theory that's hard to argue with in principle that your current clients already like and trust you so why not offer them more products. In reality it seldom works. My other issue is decent ancillary products that actually perform well. I don't need to lose a client because the dental/vision plan I sold them sucks.

What's worked best for me - and I'm sure this will bring debate - is just ton concentrate on health insurance. Period. To me, offering this huge array of products is kinda like a successful Italian restaurant deciding to offer Chinese food in hopes of getting more customers. After all, it's all food, right?

John,
Have you experienced any issues with selling ancillary products to your clients? For example, you recommended that people here in MD obtain a Careington plan because of numerous reasons. I checked into being able to sell Careington plans and an agent can net $35 per application with 25% renewals for the life of the discount plan. Do you not consider that an incentive to sell those plans if you are going to refer them to Careington anyways to meet their dental/vision needs?

-J.R.

 

[NHB_MMA]

There is a great theory that's hard to argue with in principle that your current clients already like and trust you so why not offer them more products. In reality it seldom works. My other issue is decent ancillary products that actually perform well. I don't need to lose a client because the dental/vision plan I sold them sucks.

True. You would have to be sure the product is a great product. I used to sell Ameriplan sometime ago, but when they raised their fee schedule the plan was really not a very good bargain anymore.