Getting Started in Med Supps

[GreenSky]

Hehe. Many would just say whichever has the cheapest rates, since that is all they can close.....

And in CA, why would that not be the correct answer?

Rick

 

[sman]

Hehe. Many would just say whichever has the cheapest rates, since that is all they can close.....

So it's better to "stick" it to someone with a higher priced Medicare Supplement? Don't get me wrong, I can see advising someone that paying a few dollars more because of PROVEN rate history or an added benefit like Silver Sneaker's if they are gym rats. But is there really any other reason to not offer the lowest premium plan?

The way you made the statement above almost seems like you are belittling anyone who offers the lowest cost plan. As if you are this great sales person and anyone selling the lowest price plan isn't really on your level. Oh well, to each his own.

 

[bpenn9]

So it's better to "stick" it to someone with a higher priced Medicare Supplement? Don't get me wrong, I can see advising someone that paying a few dollars more because of PROVEN rate history or an added benefit like Silver Sneaker's if they are gym rats. But is there really any other reason to not offer the lowest premium plan?

The way you made the statement above almost seems like you are belittling anyone who offers the lowest cost plan. As if you are this great sales person and anyone selling the lowest price plan isn't really on your level. Oh well, to each his own.

Well said............................

 

[somarco]

Many would just say whichever has the cheapest rates, since that is all they can close....

Once they are educated, I give them a choice and let them decide.

Odd, but they almost always go for the lower priced plan once they understand all plans (with the same letter) are identical.

Guess I am not much of a salesman.

"People hate to be sold but they love to buy" - Jeffrey Gitomer

 

[louiedoo]

In Missouri, people are allowed to move from 'like' plan to 'like' plan annually within a 60 day window around their policy renewal date, guaranteed issue - so for many here there is no reason to ever pay more for a particular plan. Some of my clients do because they favor a particular company, or history of rate increases may be markedly different between two companies they are looking at, but overall most choose the lowest premium knowing they can move if they need to.

 

[msurrano]

So it's better to "stick" it to someone with a higher priced Medicare Supplement? Don't get me wrong, I can see advising someone that paying a few dollars more because of PROVEN rate history or an added benefit like Silver Sneaker's if they are gym rats. But is there really any other reason to not offer the lowest premium plan?

The way you made the statement above almost seems like you are belittling anyone who offers the lowest cost plan. As if you are this great sales person and anyone selling the lowest price plan isn't really on your level. Oh well, to each his own.

Only reason i can think of is if they get with a company that has double digit rate increases(or large rate increases), and then they get unhealthy and dont qualify to go with another company and they get stuck with the big rate increases.

 

[sman]

Only reason i can think of is if they get with a company that has double digit rate increases(or large rate increases), and then they get unhealthy and dont qualify to go with another company and they get stuck with the big rate increases.

So you can predict future rate increases? As I mentioned before, I can understand pointing out prior rate history and possibly paying a little more now, but that still isn't a guarantee that they won't have large rate increases in the future.

But I guess I'm just not a good salesman since I look to point out rates from multiple carriers and let the client decide after they've been educated on the subject matter.

 

[GreenSky]

So you can predict future rate increases? As I mentioned before, I can understand pointing out prior rate history and possibly paying a little more now, but that still isn't a guarantee that they won't have large rate increases in the future.

But I guess I'm just not a good salesman since I look to point out rates from multiple carriers and let the client decide after they've been educated on the subject matter.

I've told you many times you are a terrible agent. You should always sell the most expensive company.

Reason #1 - Higher initial commission
Reason #2 - Higher renewal commissions
Reason #3 - Client won't be shocked by future rate increases
Reason #4 - Did I mention commissions?

Rick

 

[msurrano]

So you can predict future rate increases? As I mentioned before, I can understand pointing out prior rate history and possibly paying a little more now, but that still isn't a guarantee that they won't have large rate increases in the future.

But I guess I'm just not a good salesman since I look to point out rates from multiple carriers and let the client decide after they've been educated on the subject matter.

im not saying your a poor salesman by any means, im simply pointing out what i prefer and what works for me. and like stated above, if they are comfortable with a rate, and if it goes up it only goes up a couple bucks there is no need for them to switch. There is a lot of good companies out there that have great starting rates, but they have high rate increases for the first 5 years or so, they are looking for a bigger piece of market share.

 

[louiedoo]

So you can predict future rate increases? As I mentioned before, I can understand pointing out prior rate history and possibly paying a little more now, but that still isn't a guarantee that they won't have large rate increases in the future.

But I guess I'm just not a good salesman since I look to point out rates from multiple carriers and let the client decide after they've been educated on the subject matter.

Giving the client an education and choices is always the best way to go--then you don't have to sell--the client chooses what they're comfortable with.