Everyday large numbers of people are turning 65 and qualifying for Medicare Supplements. This booming market provides a large platform to easily introduce and sell these great products. With an easily identifiable market and no enrollment period, Medicare Supplements enable agents to cross-sell other products. Simply put, Medicare Supplements are a must have product for agents.
Below are five reasons why every licensed insurance agent should start selling Medicare Supplements:
1. Large, Recognizable Market
Perhaps the most important reason why all agents should sell Medicare Supplements is the readily available market. Unlike other forms of insurance, Medicare Supplements target an ageing population who all need insurance. And what’s more, the potential pool of clientele is increasing on a daily basis. About 10,000 people are turning 65 or older every day, and 50 million are already on Medicare. The clients are out there; it’s just a matter of finding them.
Start prospecting for new clients today! Contact us about our leads programs!
- Lead Maximizer: a database that has global consumers and business information that allows you to pull a list and find those potential clients in the United States. All phone numbers are scrubbed by the National Do Not Call Registry.
- Pre-Set Appointments: our telemarketing team calls specific areas, targeting specific prospects, such as those that qualify for Medicare Supplements, and they set up face-to-face appointments for our agents all over the U.S.
- 50/50 Co-Op BRC Lead Order: a 1,000-piece mailer that costs $460.00 but only costs agents $230.00.
- LeadServ – Lead Delivery System: includes web-based leads, as well as social media leads.
***In order to qualify for leads, agents must first complete the Leads Program Prerequisite in the Empower University. Additionally, agents must reach out to one of our Sales Experts, i.e. John Shinn or DeWayne Long, for a debriefing; they will help agents contract with the right Medicare Supplement carriers.
2. Service Your Current Clients
As an insurance agent with a book of business, you’ll likely have clients who already qualify for Medicare Supplements or soon will. Simply reach out to your clients already on Medicare or who will soon turn 65. If they are going to end up buying insurance anyways, then it might as well be from you – an agent they already know and trust.
3. Competitive Rates
Since coverage is standardized across each plan letter (Plan F, N, G, L, K, High F), clients will receive the same benefits no matter which insurance company they choose. The only differences are in premium costs and location; therefore, it’s important for agents to have the most competitive carriers.
The CSG Comparative Rater is a free quoting engine offered to all agents who have at least three carriers through Empower Brokerage. Agents can search for the most competitive carriers by zip code and any other qualifying criteria. Gain access today and complete the training in the Empower University!
4. High Profit Potential
Firstly, Medicare Supplement sales offer high first year commissions with advances, as well as annual residuals. By providing ongoing compensation, Medicare Supplements create great income potential for agents. Assuming 100% sales placement and persistence, the chart below provides a rough estimate for the compounding income potential an agent can expect selling Medicare Supplements.
For agents committed to selling Medicare Supplements, Empower is committed to helping those agents reach their goals. Through extensive training offered in the Empower University, as well as one-on-one training with experts like John Shinn and DeWayne Long, Empower Brokerage ensure agents are prepared to succeed in the Medicare Supplement industry.
5. No CMS Oversight and Little Training
If you’d prefer to avoid CMS red tape, then Medicare Supplements are the products to sell. Plus, there’s no annual enrollment so you can sell them year round! Being able to sell throughout the year, opens the door to cross-sell opportunities. By completing the courses in the Empower University, you’ll be equipped with everything you need to know to start selling Medicare Supplements.
Empower University courses include:
- Success Selling Medicare Supplements
- Medicare Supplement Pre-Set Appointment Leads Training
- Leads Program Prerequisite
- Performance Partners
Bonus: Agents who complete the above courses and become proven performers will gain access to a wealth of benefits with Empower, including free leads!
If you have any questions, please call us toll-free (888) 539-1633.