I'm a Newbie in Need of Guidance

[time4work]

Hello all. I just found this forum this week and there are a lot of knowledgeable people here. I have been doing so many searches and messaging some people and anxiously awaiting a response so I figured, why not start my own post .

I have been working from home for about 4 years now and now I'm ready to take the next step by incorporating life and health insurance into my current routine. I am will to drop down on my other activities to invest time into this, but I still have to pay my bills in the mean time. The only experience that I have with insurance is handling first notice of loss car insurance claims and I found that I love insurance and the callers. Anyway, that same company needs life and health insurance agents to work from home via the phone (liveops) so this is the reason that I am going for my license but I want to use my license with other companies as well.

I would love to find a company where I can sell from home via the phone (not some company trying to sell be bad leads that I can't afford to waste my time on), but I am also very open to going outside of the house as well. It's just that I am comfortable selling on the phone and I fear the unknown even though I'm sure I'd do great after my first couple of face to face appointments. I just can't be homeless while trying to establish my business.

I know everyone has their own opinion and I'm ready for all of yours! I'm a newbie so please be nice. How should I start off? What company should I start my relationship with that will offer me training and support and be fair as far as salary and or commissions? Please let me know your thoughts! I thank each and every one of you in advance!

 

[kgmom219]

I wouldn't recommend anyone start on U65 health right now, especially if you are worried about cash flow. If you are comfortable on the phone, I would research Medicare sales over the phone. Contact Chris Westfall at medicareagenttraining.com

Good luck!

 

[time4work]

Wow! I think that is a great idea. I will look him up. That will actually fit me a lot better. I really do appreciate your response! I owe you

 

[mpedwards]

I don't know how you sell Medicare by phone as an independent agent with all of the regulations about what you can and cannot say to your prospects. Even in person with prospects I feel like I am in a game of charades: "Sounds like silver WARE, rhymes with underwear." The only way to do that is to go work in a call center for one of the companies, although I'm not sure how that works but I have heard some success stories of people who got started that way.

 

[time4work]

Thank you so much for you feedback as well! I really appreciate it!

 

[EAJoe]

I don't know how you sell Medicare by phone as an independent agent with all of the regulations about what you can and cannot say to your prospects. Even in person with prospects I feel like I am in a game of charades: "Sounds like silver WARE, rhymes with underwear." The only way to do that is to go work in a call center for one of the companies, although I'm not sure how that works but I have heard some success stories of people who got started that way.

These regulations really only apply to Medicare Advantage unless I'm mistaken. I'm pretty sure that with Medicare Supplements you have a lot more liberty in your marketing and cross-selling.

 

[time4work]

Great! Thanks Joe, because I was really afraid. Don't want to lose my license. Also someone said that I shouldn't start off by selling medicare supplements vs. FE. What do you think would be a better market for someone with 0 experience? What company would you recommend a new agent to start with to get their feet wet in the industry so that they can take advantage of training opportunities? As always, thanks in advance!

 

[EAJoe]

Great! Thanks Joe, because I was really afraid. Don't want to lose my license. Also someone said that I shouldn't start off by selling medicare supplements vs. FE. What do you think would be a better mark for someone with 0 experience? What company would you recommend a new agent to start with to get their feet wet in the industry so that they can take advantage of training opportunities? As always, thanks in advance!

A lot of agents start out with final expense because it's an easier product to understand and pitch. Medicare has a lot more nuances that can confuse the agent, and it can be difficult trying to sell supplements with a monthly/yearly premium instead of Medicare Advantage which often has zero premiums.

That said, we do more Medicare Supplements than final expense for two reasons:

First, we get a much better response on our mailings. We get an average of 30-50 responses per 1000 pieces of mail dropped for Medicare leads, and 7-12 responses per 1000 pieces on Final Expense leads. This business is all about numbers, and with 30 responses instead of 10 responses, you are more likely to get in front of more people, thus getting in front of more money.

Second, when you're in front of a final expense lead, all you're typically going to be able to sell them is final expense because they're typically poor, old, or in poor health, or a combination of all three. Mailing to MedSup people makes more sense to us because they're typically younger, in better health, and have more money, which means we're more likely to get an annuity or life sale out of it along with the medsup.

You can find success with either, it's all about the direction that gives you the most confidence and conviction.

 

[time4work]

Thank you again! That was very helpful indeed.

 

[EAJoe]

Thank you again! That was very helpful indeed.

Glad to help! If you're willing to get out there, get in front of people, get kicked down, but then stand up again and move forward, you'll find success no matter which direction you go.