How does one sell a Med Sup Anyway?

[mickeyma]

It's been my experience with Med Supps that the difficulty is getting people to change. Seniors are terrified of change. You're presenting an intellectual argument (save money) while seniors are looking at this as an emotional situation (change).

With Plan F, there are no deductibles and no copayments so seniors are happy. First thing I learned in selling insurance was to disturb prospects about their current coverage ("did you know that.....").

Happy people don't change.

Use some emotions. I can save you $40 a month for the same, basic coverage. That's $480 a year....$4,800 over the next 10 years. What would you do with the $4,800? (take a cruise, vacation, help a child with down payment on a house, car...help a grandchild with college or a car).

Even with emotion, it's a hard nut to crack and very frustrating. You know you're doing them good but they won't budge. Use the magic word in sales: NEXT.

Good luck. I wish you well.

 

[DS4]

When I ask about Med sups in person, I'm told "Yeah I have a Plan F"--when I suggest they could save $500 a year with an "N" they look at me as if I asked them to donate a kidney. "Oh no no no, no thanks"

Plan F to Plan N is a huge leap with a new client! On this person, a new client, I would show them another Plan F with a lower cost, or, Plan G. Once you have them as a client, somewhere down the road bring up Plan N.

 

[mickeyma]

Smart strategy DS4.

 

[somarco]

Why would someone want to keep up with deductibles and copays if they are paying for a supplement?

Just a wag . . .

Same way they keep up with deductibles and copay's with an MA plan?

 

[sshafran]

If someone wants a med sup, the only plan I sell is plan F 95% of the time. In fact I don’t think I’ve ever sold an N plan.

Why would someone want to keep up with deductibles and copays if they are paying for a supplement?

Hahahahahahaha

Because N can be $50+/mo less expensive. Would you pocket $600+ annually and deal with the “hassle” of N?

I know I would....

 

[sshafran]

T65s are a dead end for me, and other local agents. T65s get so much stuff they just toss it. People with higher incomes gravitate to Med supps--so they often work past 65.

And suggesting any change once they have a med supp they take to be a scam.

This is so true. T65 is the worst market to work an every agent needs to pick something else if they want to survive in this industry.

[Now excuse me while I market to some T65’s...]

 

[GreenSky]

If someone wants a med sup, the only plan I sell is plan F 95% of the time. In fact I don’t think I’ve ever sold an N plan.

Why would someone want to keep up with deductibles and copays if they are paying for a supplement?

If someone else is paying the premium then I agree with you.

Otherwise please send me a list of all your clients so I can save them money. Most people understand value in their insurance.

Rick

 

[somarco]

What’s going to happen with the part b deductible when the F plan goes away?

I give up.

What is going to happen?

 

[somarco]

MAs don’t have a deductible

You must only have plans without Rx.

 

[somarco]

Exactly right.

Can't answer a simple question?