Getting Schooled by Med Supp Clients

[bill3173]

I got p'owned by two med supp clients back to back and I really didn't see it coming. The first was a lady that said she wanted me to be her agent and was excited to meet with me (big mistake to take that too seriously).

We met and talked for almost an hour and a half, she wanted me to explain exactly how med supps worked, the difference between carriers, etc. ...she told me from the start that she was sick of hearing about Moo and wanted other options. She settled on Aetna (Am Con), completed the app, and gave me a check. She called and left a message two days later (Saturday), that she had decided to go with another agent - Moo. She didn't have to tell me the reason, I knew the reason - $$.

Had another client (husband and wife) that gave me the same story. They wanted any other carrier but Moo, and they were right to want another one because Moo was Higher than the other two they were considering at their respective ages. They called back a week later to let me know that they had submitted apps to Moo over the phone directly. They told me that they were getting a great deal from them by taking Plan G. They specifically told me that they didn't want any plan but F and didn't want a company that gave high renewals. They changed plans and went with a company that offers high renewals.

The moral to the story is don't write anyone but Moo this year. They are smoking hot here in NC.

 

[WCMason]

I got p'owned by two med supp clients back to back and I really didn't see it coming. The first was a lady that said she wanted me to be her agent and was excited to meet with me (big mistake to take that too seriously).

We met and talked for almost an hour and a half, she wanted me to explain exactly how med supps worked, the difference between carriers, etc. ...she told me from the start that she was sick of hearing about Moo and wanted other options. She settled on Aetna (Am Con), completed the app, and gave me a check. She called and left a message two days later (Saturday), that she had decided to go with another agent - Moo. She didn't have to tell me the reason, I knew the reason - $$.

Had another client (husband and wife) that gave me the same story. They wanted any other carrier but Moo, and they were right to want another one because Moo was Higher than the other two they were considering at their respective ages. They called back a week later to let me know that they had submitted apps to Moo over the phone directly. They told me that they were getting a great deal from them by taking Plan G. They specifically told me that they didn't want any plan but F and didn't want a company that gave high renewals. They changed plans and went with a company that offers high renewals.

The moral to the story is don't write anyone but Moo this year. They are smoking hot here in NC.

Aetna CLI is my main and I've never lost one to Omaha yet, even though it is cheaper. But trying to sell Aetna's F over Omaha's G is tough and something I'd never try, at least here, as it's a $34 spread, using a T65 female as the example. But when I get someone who only wants F, I talk them out of that idea almost every time. Plan F is just not a good plan over time in almost every case and I want to educate them on this.

If you had persuaded them on G instead of selling them the F they say they wanted--as the agent who took it away from you successfully did--then you would have only had to sell them on why it's worth a few dollars more to go with Aetna's G over Omaha's, not a hard task given rate histories. I have one Omaha app in my bag just in case; haven't used it in so long it's probably out-of-date.

 

[somarco]

When I know someone is looking at MOO I talk about plan N. I may or may not end up writing the N, but I have yet to lose to MOO in that kind of situation.

Except for the ones that don't call me back.

They probably bought MOO.

 

[jbage007]

some of you guys sure focus on price a lot.

and by a lot, I mean A LOT

 

[G.Gordon]

With Medsupps, it is all about price.

You got schooled because no matter what that first lady said, I'd quote her ten other companies besides MOO then come back to MOO if it were the cheapest, "There is no reason for you to pay more, every claim it going to be paid to the same doctor, at the same speed, at the same $$, every time". Now, can I write you a MOO plan G or what ever plan makes sense mathmatically.

 

[WCMason]

some of you guys sure focus on price a lot. and by a lot, I mean A LOT

Price (and underwriting criteria for non-OE and -GI cases) are the only variables with these standardized plans. Good reason to focus there.

 

[somarco]

some of you guys sure focus on price a lot.

and by a lot, I mean A LOT

and your focus is ......................................?

 

[Bevo]

some of you guys sure focus on price a lot.

and by a lot, I mean A LOT

When it comes to Med supps, if you don't focus on price and they end up talking to me, I WILL get the deal.

So yeah go with that "I don't focus on price" thing...works well for me and happens everyday in my world.

 

[bill3173]

Banker's Life doesn't focus on price. A lot of their agents focus on the fact that no other carrier will offer the same plans or pay claims, and it seems to work for them.

 

[somarco]

Banker's Life doesn't focus on price.

Good thing they don't because they cannot compete against almost any other carrier with the exact same plan.