Guaranteed Annuity: Cross-Sell

Following his explanation on the differences between the reasons behind getting a life insurance policy and an annuity, Criss Crombie – the Life and Financial Manager – now discusses strategies in having the “conversation” with existing clients. Watch the video below and learn how to sell an annuity or life policy to a Medicare Supplement client!

Criss: The goal is you understanding this enough to be able to have that conversation with your prospective client. So you’re having a conversation, you’ve taken care of their need – whether it’s a Medicare Supplement or whatever it is that you’ve just taken care of – the question is: do you have that pivot conversation at that time or do you call back later? There’s no right or wrong answer. Now typically a Medicare Supplement sale is a long sale. If you’re doing it over the phone, you’re having to explain the deductibles, the out-of-pocket, and how the gap plan works, etc. so you’re on the phone for 45 minutes to an hour, right?

Josh: Or Medicare Advantage (MA)?

Criss: MAs are not good prospects. So my recommendation would be to follow up with them “on delivery.” Now you don’t actually physically deliver the policies, but it’s good customer service to follow up with them about a week later and say, “Hey, I just want to make sure: did you get your insurance card? Have you had a chance to call your doctor and schedule an appointment for [whatever we were talking about]?” If you sell them a prescription card, ask, “Hey did you get your insurance card in the mail? Do you have any questions? Have you had a chance to use it yet? By the way…” That’s when you have that conversation. For me, that would be the best time to do it rather than having a lengthy conversation and then having another lengthy conversation. They’re done with you and want to move on because you got to go through that whole script that you got to read and everything, and they’re just like “where do I write the check?” So, I always plant the seed for the next conversation – “Hey, I’m going to call you in about a week to check and make sure you got your insurance card [or your prescription card or whatever], and we’ll go through and answer any questions at that time. I’ll also go over some other solutions that I might be able to help you with.” So, you’re planting the seed. When you call them back, you say, “Hey, how are you doing? Did you get your insurance card? Let’s go through your benefits to make sure you understand what you have, and remember how I mentioned last week that there are some other matters that I can help you with? Let me ask you a question, “Do you have any money sitting aside like in a CD or an IRA that you’re not happy with? If I could show you how to safely earn 3 or 3 and a half percent, would that be of interest to you?” Then you have that conversation with them, and you go into your solution, which could be the Multi-Year Guaranteed Annuity or the single-premium life if they need it for legacy.


We hope that this information on the cross-sell conversation is useful to you.

Empower Brokerage is dedicated to helping you make informed decisions about your health and finances. Whether it’s through webinar training, one-on-one calls, seminars, or marketing plans, we want you to be successful!

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Article Updated: 03/05/2024