Hello everyone,
The IMO for my state has been trying to recruit me to sell these (I apparently can cover about 5 counties due to lack of coverage in my area). At first, I was thinking it's not worth it because there isn't enough money in it, and I do insurance business as a side to my primary market (retirement planning and investments).
But I've been hearing this IMO out, and it seems easy enough to get in front of people because of the AARP endorsement (she pitched me on cross-selling other services to my Med-Supp clients, but I'm not sure how Kosher that is).
Anyway, this lady says she is the IMO for my entire state, and that's how UHC does things these days and it's a standard contract.
So I thought I'd post a topic here and get some insight from the pros because I am WORTHLESS when it comes to health insurance, and even more worthless when it comes to Medicare, Supplements, and Advantage plans (apparently UHC does NOT have an Advantage plan in my local market).
So if anyone has any commentary related to these questions, I'd love to hear your input...
1. Is UHC legit in this marketplace? I assume so because of the AARP endorsement. But sometimes I wonder if I'm getting the ole' Primerica/Banker's Life/AXA/etc. pitch, and if I take this appointment, "real" Senior Market reps will laugh at the arrows I have in my quiver.
2. Is there opportunity to make real money doing this? I was intrigued at first, but now I'm finding that their Supp policies only pay commissions for 6 years. So if I get a policy to stick for 6 years, I'm going to make a thousand bucks over that time (give or take depending on the plan, etc., but you get the idea). So if I can sell 50 policies a year (no idea if that's possible) I'm basically adding $50,000 a year in income to what I'm already doing. Is that reasonable? Is 100 policies reasonable?
I asked the lady this and she said "Oh yeah, you can make six figures." I said, "well that's a pretty big spread" and she said "well it's not going to be $500K, but it's 6 figures). I probably won't bother to do this if I'm looking at making $20,000 a year at it, but if I can work it into my existing marketing and make $50 - $100K a year or more, plus do some cross selling, then it would be a nice additional income stream. Any commentary from vets on income potential and cross selling opportunities (if there are any)?
3. What's the service like typically? Is it the occasional "I need to switch this or that" or is it a PITA that I'm going to need to use my support staff for?
4. Any other commentary / advice? Alternatives I should be looking at? Etc.
TIA
The IMO for my state has been trying to recruit me to sell these (I apparently can cover about 5 counties due to lack of coverage in my area). At first, I was thinking it's not worth it because there isn't enough money in it, and I do insurance business as a side to my primary market (retirement planning and investments).
But I've been hearing this IMO out, and it seems easy enough to get in front of people because of the AARP endorsement (she pitched me on cross-selling other services to my Med-Supp clients, but I'm not sure how Kosher that is).
Anyway, this lady says she is the IMO for my entire state, and that's how UHC does things these days and it's a standard contract.
So I thought I'd post a topic here and get some insight from the pros because I am WORTHLESS when it comes to health insurance, and even more worthless when it comes to Medicare, Supplements, and Advantage plans (apparently UHC does NOT have an Advantage plan in my local market).
So if anyone has any commentary related to these questions, I'd love to hear your input...
1. Is UHC legit in this marketplace? I assume so because of the AARP endorsement. But sometimes I wonder if I'm getting the ole' Primerica/Banker's Life/AXA/etc. pitch, and if I take this appointment, "real" Senior Market reps will laugh at the arrows I have in my quiver.
2. Is there opportunity to make real money doing this? I was intrigued at first, but now I'm finding that their Supp policies only pay commissions for 6 years. So if I get a policy to stick for 6 years, I'm going to make a thousand bucks over that time (give or take depending on the plan, etc., but you get the idea). So if I can sell 50 policies a year (no idea if that's possible) I'm basically adding $50,000 a year in income to what I'm already doing. Is that reasonable? Is 100 policies reasonable?
I asked the lady this and she said "Oh yeah, you can make six figures." I said, "well that's a pretty big spread" and she said "well it's not going to be $500K, but it's 6 figures). I probably won't bother to do this if I'm looking at making $20,000 a year at it, but if I can work it into my existing marketing and make $50 - $100K a year or more, plus do some cross selling, then it would be a nice additional income stream. Any commentary from vets on income potential and cross selling opportunities (if there are any)?
3. What's the service like typically? Is it the occasional "I need to switch this or that" or is it a PITA that I'm going to need to use my support staff for?
4. Any other commentary / advice? Alternatives I should be looking at? Etc.
TIA