Step #1: Buy, build, make or sign up for a high quality client-facing website with an embedded Medicare supplement quote engine. My company will give you a website and Medicare supplement quote engine for free with no obligation. Sign up on right side or click here. A well designed website with quote engines will entice the visitor to input their personal information.
The default website that you get when you sign up is on the format of www.naaip.org/sample so you have to purchase a domain name (Godaddy sells domains for 99 cents using a coupon code). Spend 5-6 minutes doing the steps to properly host the website on your domain. The default NAAIP website is initially formatted for life insurance sales so you have to tweek in the back office to change the website to be a Medicare supplement focused website.
Here is an example Medicare supplement website - click here. (make sure you put it on your own domain name)
Step #2: You need the perfect software to efficiently dial your phone. My company has done a thorough review of the phone dialer programs. We will also be able to get you a coupon code so you can save money. click here for a review of nine leading auto phone dialers. Join NAAIP's daily conference call at 12 Noon ET for an in-depth discussion on phone dialers and to retrieve a coupon code.
Step #3: You need leads and lots of consumer data. NAAIP has you covered. Having thousands of top Medicare supplement sales people in our system gives us tremendous clout in this industry. click here for a very good round-up of the lead options that are available.
Step #4: You need product to sell. NAAIP offers contracting at the guaranteed highest commission levels for 27 Medicare supplement and 12 Medicare Advantage carriers. To fulfill our quotas to the insurers we need big numbers and productive producers. Our Medicare lead system is as follows:
Every 5 Medicare Advantage or 10 Med sup sales gets you 1,000 free mailers.
Compensation is highest that CMS allows on Advantage and highest street level on supplement. click here for a list of our Medicare carriers. Note: NAAIP agents have access to a 100% accurate Medicare suppplement, Advantage and Part D Quoters. Accessible in the back office. Sign up to NAAIP on the right side.
Step #5: You need Training. A seasoned pro would be smart to talk to other pros. This is your profession, so get a second opinion. Join NAAIP's daily conference Weekdays 12 noon & Sundays 2pm ET. Call in at 1-888-532-9320 - Monday thru Friday. It is an open forum. We talk quite a bit about websites and moving those websites up the search engines. Please state the topic that is of interest to you and the discussion will change. Daily conference calls are usually over an hour. Looking forward to helping you earn money by selling Medicare supplement by phone!
Nearly 10,000 individuals turn 65 each day, the senior market is exploding unlike any other market. Insurers actually want their agents to be selling Medicare supplement via the telephone using the latest technology. Medicare supplement sales agents can sell from virtually anywhere in the world. In fact, I personally know a few agents that work from Costa Rica of all places. Client applications are being processed and delivered in days as opposed to weeks. Insurance companies are encouraging their agents to sell via paperless applications which allow the insurers to be faster and more efficient.
The first baby boomer generation will soon become eligible to receive Medicare benefits. Ahead of it, a new generation of seniors is emerging. This generation is internet savvy and can fill forms online, which makes e-application a perfect solution. Insurance providers on the other hand can reach larger audiences through e-applications. Insurers now sell Medicare Supplements over the phone and fill customer’s information on online forms.
We now have the answer to the question: “how do you sell Medicare supplemental insurance by phone?” It was not possible few years back, but now it is a reality and numerous companies are using this facility to their advantage. Customers can fill the application and pay processing fees right there and then. It is a perfect example of paperless and efficient work.
Insurers can speed up the enrollment process by selling Medicare supplements by phone. Agents, on the other hand, can reach more clients while sitting in the comfort of their office. They can save on mailing costs and unnecessary paper work. Agents and insurance providers save money and time as they are not required to travel to meet the client face to face.
Since we are familiar with how to sell Medicare supplemental insurance by phone, we should understand why we should sell it. Several factors enable agents and companies to save money, this means companies get direct contracts, and agents can earn more. With a built in quote engine and facility to close call, it is the right time to sell insurance by phone with your company.
Some Tips on How to Sell Medicare Supplemental Insurance by Phone
As you call to sell insurance by phone it is better to state how long the call will last rather than asking if it’s a good time to talk. You should wind up the call in the time stated by you. Address your prospects by their first name and in return pronounce your name clearly to them. Avoid stating your company name unless it is necessary. If you are not able to finish your call in the agreed time, ask whether they would like to continue the talk.
Your prospect will appreciate your respect for time. As your prospect allows to continue the calls, try initiating a discussion with some open ended questions. Try to move to a casual conversation by addressing the person with his or her first name. Try to engage your prospect and make the call interesting by telling stories as to how they can benefit by purchasing Medicare supplement by phone.
Your voice should carry some energy and your facial expression should be just as if you are talking to that person face to face. Try it! There will be a huge difference with the way you talk on the phone. Your prospect cannot see your face; therefore, your voice should carry that expression. When you come to an end, made sure you summarize the key benefits of purchasing Medicare Supplemental insurance by phone. You should be clear with your objective and what you have to say before you make the call.
As you master the art of how to sell Medicare supplemental insurance by phone, you should be able to make your prospect fill out the application form by the time you finish your call. Other signs of a good call are whether you are able to fix a meeting with the prospect to fill the application or the prospect agreeing to a follow up call some time later.
If your prospect does not pick up the call, make sure to leave a voicemail. Keep the message short and don’t forget to mention your name and company name. State your phone number slowly; it is better if you repeat it. Make sure to make a follow up call after 2 or 3 days if the prospect does not get back to you.
Medicare Supplement Phone Selling Script for Setting One Call Appointments or Two Call Closes
(Your script will be in Red letters, Client's will be Blue with italics and quotes - special notes to you are in green and in parentheses)
This is standard script to cold call potential Medicare supplement prospects. The following is the cold call for those who are turning 65 in the next 3 months. Your ideal Medicare supplement prospect will be above average income.
Hello, Mr./Mrs. __________, My name is ______________ of the Senior Alliance of (wherever you are) in Beverly Hills. (an upper income city). (example - Hello Ms. Watson, My name is John Fisk of the Senior Alliance of Calfornia in Beverly Hills)
(The introduction is to be said quickly - don't break from speaking - breaking causes the prospective client to interject - If the prospect is allowed to stop and think then she will wonder why she is allowing you to waste her time - meanwhile - prospect is thinking that you are a charity - so prospect is giving you the benefit of the doubt - the prospect is not slamming the phone on you)
(Medicare supplement prospects are upper income folks that have been receiving tons of US Mail solicitations mostly from Medicare Advantage insurers, A**P and BCBS. The prospect genuinely wants to make the Medicare decision in an informed manner.)
(Insurance agents may find it best to cold call for annuities, final expense, long term care, dental insurance, etc. as the prospect turns 64. This "early bird gets the worm" technique will develop a relationship and you will be the trusted advisor to help your "friend" decipher all the solicitations as he/she turns 65.)
Here is the reason for my phone call:
Medicare supplements allows one to go to any doctor, any hospital in the United States. No referals are needed. A drug plan will cover approximately 90% of your medicine costs. The Senior Alliance are experts on this and we can save you more than 48% compared to A**P (BCBS or whatever). Ms. Watson, Your are planning on purchasing a Medicare supplement? Right?
(it is still the beginning of the cold call - don't have a client say much or he will think and then hang up)
(This first time that the client speaks it should be Right? "Right"- don't give the client time to think - if he thinks he may just hang up on you!)
Ms. Watson, let me tell you what exactly my office does. We work over 25 Medicare plans in California and really the know the industry. Medicare plans such as Humana, A**P, BCBS and others have in-house salespeople that only can sell their company. My office works with those insurers as independant brokers and for the other 22 plans that are available as well.
To cut to chase, I am here to help you. When it comes to Medicare supplement, these are standard plans with letter designations from Plan A to Plan K. It would be identical coverage with only the price being different. Obviously, you as client would want to buy the company that has the lowest price. At no cost or obligation, I will fax, email, sms or send by US mail a list of the Medicare supplment insurers that is available in Los Angeles. Most likely you will want to be insured by the company that charges less.
The savings over the years by being insured by the lowest priced Medicare supplement versus the highest priced one is subsantial, over the years it would be in the tens of thousands of dollars.
Ms. Watson, considering that it would be identical coverage. You surely would prefer to get the lowest priced standardized Medicare policy versus the highest priced one. I am assuming that you do agree with me. Is that right, Ms Watson
"Yes, It is."
(Let the prospect talk - after your lengthy explanation, the prospect should consider you a needed resource and be friendly - Small talk is now in order - be her friend)
(Have the client speak - Your job is to deliver that valuable list of what the various Medicare supplement carriers are charging - via email, fax, sms or US mail - actually a combination of all them is best. )
(An agent that sounds professional on the phone will almost never get hung up on - You must be naturally talented and/or willing to work hard to have that "anchorman" sounding presentation.)
Ms. Watson - I sincerely want you make the wise decision as to which Medicare supplement plan to purchase.
I can sms, fax, email and US mail you this information.
According to my data your address is 123 Main Street, Los Angeles, California 90215 - That is correct, Right?
And what is your email?
Does this phone accept sms, if not what phone should I text to?
In years past, I sent out a ton of faxes, Nowadays less. It is my sincere belief that the information that you will receive from me will literally save you tens of thousands of dollars throughout your lifetime. It is that important.
I do appreciate that fact that you are hearing me out. I really want you make the good decision!
(It would be extremely rare to make a a one call sale on a cold phone call for Medicare supplement insurance. Two calls over the phone close is very likely if you come accross as professional, knowledgable and friendly. You are more likely to succeed if you are phone selling within a 45 minute drive of your home. At least you will be able to pick up a check and say "hello", if that is what is needed to close the deal.
Keep in mind that Medicare supplement clients are the richest subgroup in America - These older, richer people are practically the only Americans with money in the bank. Sell these people an annuity and make big money when you meet them!
It is hard have a scripted phone script beyond this point - There may or not be an objection to giving over her email address. Talk about the open enrollment and other facts about the Medicare supplement industry. Come accross as an expert and don't be afraid to beg. Don't be afraid to be humurous. The reason that you are trying so hard is that you genuinely care for Ms. Watson and want her to make a good decision. Ms. Watson should have full knowledge of the Medicare supplement industry before she makes a purchase.
Talk about what is on your mind. Your job is to help people get the most suitable and best deal for their Medicare supplement insurance. You have that information. You can send it to the prospect via email, US mail, sms, etc. But then you want to follow up to fully explain, answer questions and get Ms. Watson insured. Assume the Sale. If you made it to this point where Ms. Watson gave you her email, sms and confirmed her home address. Congradulations, You made a sale!. Discuss with Ms. Watson that she will be your client for Medicare supplement and she will be grateful to you of getter her such good value, etc.
At this point, you will discuss with Ms. Watson the best method in which to give over this super valuable Medicare supplement information and how it will be followed up.
- Does Ms. Watson prefer you to visit her house?
- Does Ms. Watson prefer that the two of you speak on the phone on Thursday or on Friday?
- Does Ms. Watson want you to show her exact numbers on a MYGA - Multi year guaranteed Annuity - where you can get her a higher interest rate than the bank CD while having more liquidity?
- Or does Ms. Watson want you to show her exact numbers on a lifetime annuity- Lifetime steady income based on giving a lump sum of money to an insurance company.
- The Medicare supplement selling is a great way to make regular sales, but in essense, it is a door opener for you to be a financial planning specialist!)
The following are some techniques to make the appointment at Ms. Watson's home
Ms. Watson, Based on my experience and knowledge in the Medicare supplement business I actually know the insurer that you will end up taking..... Let's cut to the chase - Let's sit down and allow me to present to you the policy in person.
In fact, I am in your area of Malibu Beach all of next week - Would Wednesday be good or would Thursday be better. "Monday" Great - Is the afternoon good for you or is it better in the morning? "Afternoon"
Excellent - Before we finish this phone call - Let me give you my, name, office & cell phone, website and email - You have a pen and paper? (Wait for Ms. Watson to jot it down)
My name is Moses Newman - My cell phone is 561-555-1212 - my email is email@example.com - my personal website is www.newmanagency.com and office is 3456 Maple Street, Beverly Hills, CA 90210. Even though our office is in Beverly Hills, my work is mainly in Malibu Beach.
(if Ms. Watson asks who is senior alliance - say it is associated with newmanagency.com)
Ms. Watson, I will send you an email confirmation. I will confirm - Your email is? or What is your email? and what is your cell phone?
Excellent, We will meet at 10 am Next Thursay on June 11th. Ms. Watson, I appreciate you giving me the opportunity to be of assistance to you for your Medicare supplement.
(if the meeting is days away send a US mail letter to Ms. Watson introducing. An email, sms - Make Ms. Watson feel that she has a real connection to you! .. - You just made a one phone call appointment and you are on your way to being upper middle class! Lot more efficent than going to medical or law school.
You will quickly close the deal on Medicare supplement and then:
Talk about the tax benefits of life insurance.
Talk about how a life insurance policy would be the "Final Loving Act." Show them the video that we can embed on your website.
Click to Agent Website and scroll down for video.
Talk about how banks in Malibu Beach are so fancy, and have great service. In other neighborhoods people wait in line an hour to cash a check!
Malibu banks pay 1% on a CD - even if you lock up the money for 5 years.
An insurance company such as Oxford Life - Gives clients between 3 and 4% while offering more liquidity - This is your real expertise.
The initial calls are to present yourself as a pro and have the prospect like you.
Medicare supplement sale 100% by phone you must send U.S. Mail, email, sms, etc and then follow up with a phone appointment to get the app - 100% Medicare supplement telephone sale - best for the prospect to be close to your home so you can always meet face-to-face to pick up the application.)
NAAIP provides Medicare agents contracting and appointments to dozens of Medicare insurance insurers in 50 states. Consult with us. We are experts in Medicare sales by phone.
* The information provided is intended for licensed insurance agents only. It is not intended for the purpose of advertising the insurance products to the general public. Best Medicare supplements insurance companies from home.
Visit our page on Selling Final Expense Online/Phone/from Home.