Medicare Supp Vs FE Advice

[nwiproducer]

Good day all, I have decided to enter into the business full time but I am torn between Medicare supp sales by phone and traditional FE face to face sales. After looking at both I have pretty much decided the companies to partner with, but have not yet decided which way to go.

I have done FE face to face about a year ago and Medicare advantage plans back in 2006 and I had pretty good success with both. Since I have decided to re enter the business and after some research found the med supp opportunity very appealing. I need to make aprox. 4K after expenses fairly quickly but I do have the funds to purchase leads which ever way I decide to go.

Thanks in advance for your advice.

 

[Rearden]

I decided to sell final expense because of:

a) FYC Cash-flow intensive (versus MedSupps being Renewal-intensive)
b) little service work required (so more time spent selling), and
c) final expense is simple and results are largely (not completely) a numbers game.

 

[axeman462]

I do both.
Both because:

- FE: FYC is nice. I look at this as my "pay me today" money. But FE has small renewals so you have to always be chasing new clients

- Medicare: 2ndYC is nice. I look at this as my "pay me tomorrow" money. Smaller FYC, so you will need a savings to live off of or something to supplement it (FE), but after you get a nice client base, you will be able to live off the renewals alone.

If you can, I would recommend dividing up your time to sell FE half the time, and Medicare the other half.

 

[jdeasy]

Good day all, I have decided to enter into the business full time but I am torn between Medicare supp sales by phone and traditional FE face to face sales. After looking at both I have pretty much decided the companies to partner with, but have not yet decided which way to go.

I have done FE face to face about a year ago and Medicare advantage plans back in 2006 and I had pretty good success with both. Since I have decided to re enter the business and after some research found the med supp opportunity very appealing. I need to make aprox. 4K after expenses fairly quickly but I do have the funds to purchase leads which ever way I decide to go.

Thanks in advance for your advice.

Pretty big choice to make there. If you focus on med sups there will be many cross selling opportunities for FE.

If you focus on FE there will be very few opportunities to cross sell med sups. There are many opportunites to sell MA plans to the FE market but you didn't say you were getting back into that.

Either one is a good business model. But they are very different business models.

 

[Newby]

Good day all, I have decided to enter into the business full time but I am torn between Medicare supp sales by phone and traditional FE face to face sales. After looking at both I have pretty much decided the companies to partner with, but have not yet decided which way to go.

I have done FE face to face about a year ago and Medicare advantage plans back in 2006 and I had pretty good success with both. Since I have decided to re enter the business and after some research found the med supp opportunity very appealing. I need to make aprox. 4K after expenses fairly quickly but I do have the funds to purchase leads which ever way I decide to go.

Thanks in advance for your advice.

I do both. You can do FE mailers and sell FE plus Med Sups and do Med Sup mailers and sell Med Sups Plus FE. It doesn't matter which product you mailed for, you just fact-find for both on every appointment.

Med Sup mailers are cheaper but a lot of the responses have Med Advantage not Med Sups at all. Still good FE prospects though.

$4,000 monthly should be cake. If you meant $4,000 weekly, that's a little tougher.

 

[Justin Bilyj]

The writing is on the wall, chasing new business can't last forever, I will shift my business to med supps this year, and do FE on the side and cross-sell. Plus there are more people willing to talk about medicare than funerals so referrals will be better.
My recommendation is to take a look at Daytona's site for med supps.

 

[senior-advisor-indiana]

The writing is on the wall, chasing new business can't last forever, I will shift my business to med supps this year, and do FE on the side and cross-sell. Plus there are more people willing to talk about medicare than funerals so referrals will be better.
My recommendation is to take a look at Daytona's site for med supps.

Good luck doing that in Ohio.

 

[Justin Bilyj]

Good luck doing that in Ohio.

I am getting licensed in other states, time to fly away from the nest...

 

[nwiproducer]

Thanks for all the great advice;

I have joined Chris's site and am totally impressed with his systems, I have made the decision to go full speed in the Med supp arena as I feel its a better place to start and would be more solid with the phone / virtual format, then branch out into other products. Since I am in this for the long run this seems to be the way to go. Also after just a couple Xmas parties I have possibly picked up a few clients.

Next step is to get my E&O and start my contracting with the companies so I can hit the ground running this new year.