How to Successfully Sell Medicare Policies
Potential sellers call my office every now and then to tell me they have Medicare policies to sell to me. They think that the market for the elderly is the right place for them and they want to start making sales instantly.
Nine out of ten of these people do noteven get past the first month. I will tell you what you are doing wrong and howyou can avoid the traps that prevent them from hitting the ground running. Find a 2020 medicare supplement plan at https://www.medisupps.com/medicare-supplement-plans-2020/
The following information I share is based on my experimentation and the mistakes I have made have been selling health and Medicare policies for the past 14 solid years. In addition, I have worked with hundreds of agents with a wide range of backgrounds and skills. This is a summary of how you can start and succeed in selling Medicare.
Insurance license, omission and errors: it is necessary to have a valid insurance license in the state in which you wish to operate. Many insurers also require insurance E and O. Today there are several operators of E and O. Normally, NAPA has good prices, which should be between $ 500 and $ 600 per annum.
A major mistake is that people are trying to sell Medicare policies without the understanding of Medicare. You must understand Medicare Parts A and B before you can make sure you sell people’s policies to supplement Medicare A and B insurance. Find a copy of “Medicare and You” book and read it 2 or 3 times to get started. Then, talk to someone who has experience in selling policies for at least a few years to get some understanding. There is also a series of online presentations that provide an overview of the original Medicare policy. These kinds of presentations will help you a lot with the basics.
You must be nominated to sell at least 2 different companies that offer a Medicare supplement and Medicare Advantage policies in the area where you will be working. Over time, it will be useful to be nominated with most, if not all, of them, but it would be too overwhelming to begin. Two companies will do it at the beginning. Use the Internet again to get an idea of which companies in your area are competitive. For each given zip code, there are also some Medicare wholesale websites that will allow you to make basic comparisons.
Review the benefit summary several times when you receive supplies. You must be able to get rid of the benefits and co-payments of your head. Go through the applications and get to know them from start to finish.
Consider using a marketing organization, an FMO, or a wholesaler:
These are companies that have contractswith different insurance companies. You can get all of the various Medicarecommercial insurance contracts through one of these organizations. Try reviewing some simple summaries toknow who has the most competitive advantage policies, so call them to start theselecting process. For additional policies, you can use the state insurancedepartment’s website to find out who has the best rates (for additionalpolicies, prices are the main difference).