Anyone familiar with this group?

[Steve]

Hello and thank-you to all -- I've benefitted in many ways over the past few months reading this (and the prior) forum(s).

I am just becoming licensed in Life & Health. I have come across an ad from HealthChoice LTC Solutions, and am curious if any of you have knowledge of the group. Their website is www.healthchoice.com.

They focus on the LTC and Medicare Advantage Plan market, along with Life and Annuity products. They claim comprehensive marketing support and training, and all leads are provided through their employer groups, affinity association and policy holder base.

Any insight would be greatly appreciated.

Steve

 

[Steve]

Different Question

How about any recommendation of specific questions to ask, or "red alerts" to listen for when interviewing with a company focused on LTC and MAP?

Thank you!

 

[Crabcake Johnny]

General red alerts are:

*Group interviews
*Sales pitch instead of you actually being interviewed
*Talks only about money instead of their products

Questions to ask:

*What's the average commission per sale?
*How are advances and chargebacks handled?
*How many leads can I expect to get per week and are they fresh and exclusive?

 

[MIBizInsurance]

Here you go-

http://www.insurance-forums.net/viewtopic.php?t=64

 

[Steve]

Thank you very much, John.

Along those items, why does the industry focus so heavily on what the advances are? It would seem that with people running between 5% and 40% chargebacks/cancels (or even 60% with NAA!,) "as earned" would be appealing to many. Any insight for me on this?

 

[Crabcake Johnny]

Just that most people don't have the savings needed to keep themselves afloat until as-earned income pays their bills.

Use health insurance as an example: Say the average commission is 20% and your monthly nut is $4,000. Also assume you're writing $10,000 in premiums. In this scenario it's about 7 months before you're earning $4,000 a month. Not many people have that type of savings.

And if your chargebacks are running 10% and you're getting advanced then simply save 10% of your commissions. If your chargebacks are running 40% you need to immediately stop what you're doing because something is drastically wrong.

 

[James]

Along those items, why does the industry focus so heavily on what the advances are? It would seem that with people running between 5% and 40% chargebacks/cancels (or even 60% with NAA!,) "as earned" would be appealing to many. Any insight for me on this?

As earned is appealing to many, its just getting to the point of surviving on "As Earned". If you can figure out a way its the only way to go!

Yet though, in the end one has to know what they want out of this field, such as what one wants to sell. This Company you have linked to seems to be about LTCi in no small way! While LTCi isn't the hardest sale in the field its without a doubt one of the hardest sale.

I would concentrate on this with them, first is do they have a mentor that will lead you in prospecting and your first sales attempts and then to be a mentor for at least a years time. I wouldn't count on any lead program by the company nor would I concentrate heavily on charge backs, they suck and yes they do happen. If it happens you have to pay the money back if you recieved advance commissions, pretty damn clear isn't it?

 

[dvd493]

Steve,

Thats a great avatar!!!!!!!!!!!!!!!!!!!!!