Tag Archives: medicare agent

SAP 037: Starting An insurance Business with Credit Issues and No Money

Very common question, “Can I start as an independent agent with no money and very bad credit?” The short answer is: NO

This video seeks to answer one of the most common questions a new, potential agent has about starting as an insurance agent, either with Medicare Supplement sales or Final Expense life insurance.

With bad credit, companies are not likely to advance commissions. With really bad credit (recent bankruptcies, pending/recent foreclosures, etc.) they are not likely to contract with you at all.

Why? Because they see it as a fiduciary risk where your intentions might be to stay afloat, financially, at any cost, including costing them money by writing bad or fraudulent business.

For helpful agent information, visit MedicareAgentTraining.com

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SAP 036: Medicare Supplement Leads – Review

Is it too much trouble to actually control the incoming prospects into your MARKETING business? No, it is a huge facet of any business, to control its marketing. In this, or any other MARKETING business, this is something best to NOT to pursue blindly with a credit card in your hand.

It is WORTH learning about marketing. It is WORTH testing different approaches until you find the one that fits you the best. It is worth attending conferences, networking with other agents, researching ongoing trends in lead generation so that YOU can cut out the “middle man” and do it yourself. Imagine, if your leads are marked up 100%, which is really around 500%, but if they were just marked up 100% and you continued to rely on that lead generation method for a 20 year career.

Much much have you lost in 20 years where you could have merely decided to invest once in the knowledge to do it yourself and reap the rewards month after month, year after year. Cut out the “middle man”. Do it yourself.

For helpful agent information, visit MedicareAgentTraining.com

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SAP 034: Duplication and then Scale

If you are comfortable where you are, great! Keep doing what you’re doing.

Whatever you’re comfortable doing is your current state of limitation. Just outside of your comfort zone is where your BREAKTHROUGH is.

Choosing what state to sell in, how to sell (face to face vs. phone), etc. can mean the difference between $30,000 a year in income vs. $80,000 PER MONTH in income.

It’s up to you. It works.
You do what you’re comfortable doing.

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SAP 035: Focusing on your Strengths

Success and Failure in the Medicare niche of the insurance industry. This was a frank conversation on a recent Saturday morning.

Key: Focus on your strengths, fill your weaknesses with others who are best in that area. You cannot be all things to all people. Knowing where I’m weak allows me to hire to compensate for that.

For LIVE updates, make sure to “Like”: http://Facebook.com/medicareagenttraining

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SAP 033: When to Hire Extra Help in Your Medicare Business

This is the question submitted by one of our members, and it is asking when to hire additional help as the business is starting to grow. (Read by speech-to-text with the computer voice!)

“So, I re-watched your video from a couple weeks ago about delegating authority. I know that I am very new, but I am trying to streamline the learning curve as quickly as possible and grow the business as fast as I can. I wanted to ask your advice…

If I were to hire one person now to help me, could you give me an idea of what duties would be most important?

1) Should I hire a licensed agent or an administrative person? Or hire somebody to perform admin duties who is also licensed so he/she can also write business?
2) How do you recommend I pay them? (hourly, flat fee per deals, etc.??)
3) Do you pay your staff as independent contractors, or do you W2 them and pay payroll taxes, etc?

I am currently working all day from about 7:30am until well into the night sometimes 10-11pm trying to do all my administrative chores while making cold calls in the am, and during the peak hours in the pm, and also following up on all the calls my telemarketers set up for me throughout the day (I bought trained telemarketers through http://TrainedTelemarketers.com )

I started doing this full time in the middle of October. So the first couple months were a bit slow, and now things are starting to come together, but I want to automate and delegate more. 2 weeks ago I had 5 new applications and last week I had 6. This week I have 0 so far. My goal each week is 7 new apps. I have not hit it yet. I’ll be happy if I hit 20 for the month. I’m having good conversations but I hoping you can give me suggestions to improve. I’d like to know how your business is set up. Perhaps your operation is too big, but maybe something like the way Eugene has set his up is something I can model. It’s my understanding he has himself, one or 2 agents and an admin person.

So if I could only afford to bring on one person now, where would my money be best spent, or am I putting the cart before the horse?”

See: http://MedicareAgentTraining.com

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SAP 032: Shiny Object Syndrome

Many of us are guilty of constantly seeking the next “shiny object”, thinking that it will be, finally, the solution to easy profits with MUCH less effort.

While there is a lot to be learned from attending seminars, buying courses, and studying non-stop, there is a point where a successful person stops searching for the next-great-thing, and actually goes to work.

When you find yourself circling around to the things you’ve already seen before, and YOU have not implemented anything, it’s time to look in the mirror and make a decision. Which way are you going to go?

Come see us… http://MedicareAgentTraining.com

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SAP 031: Checklists Can Save Your Business

Every professional uses a checklist in their business so that important items are not missed on a regular basis. In this latest edition of Medicare sales training, Chris Westfall talks about how NOT having a checklist can bring liability, bad reviews, and angry clients.

For helpful agent information, visit MedicareAgentTraining.com

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SAP 027: Never Choose Failure

Please excuse this long-overdue rant, that comes along about every six months, when a new agent presents to me a list of excuses as to why this industry, helping seniors, is not working for them.

MedicareAgentTraining.com is a site dedicated to best practices in the delivery of Medicare benefits to our greatest generation. It is run by Christopher Westfall, who has been a licensed agent for over 19 years. Christopher helps to facilitate the on-going discussion between insurance professionals who are constantly seeking the best for their practice and for their clients.

For helpful agent information, visit MedicareAgentTraining.com

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SAP 030: Best Marketing Practices for Insurance Success

Even the Pony Express only lasted 19 months before a better method of communication was found!
“During its 19 months of operation, it reduced the time for messages to travel between the Atlantic and Pacific coasts to about 10 days. From April 3, 1860 to October 1861, it became the West’s most direct means of east–west communication before the telegraph was established and was vital for tying the new state of California with the rest of the United States.”

What method have you settled on for the marketing and communication of your insurance proposal to clients? Are you still using the insurance version of the old Pony Express? Perhaps, if your horse is tired, it’s time to change horses – or better yet, change methods altogether?

For helpful agent information, visit MedicareAgentTraining.com

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SAP 029: What NOT to Say When Selling By Phone

The words you use can have an impact on whether or not conversations are productive or they are not. Sometimes, subtle things you say can influence the conversation in a negative way.

Here is one example in this video by Chris Westfall, talking about triggers that lead to an interruption in the flow of the telephone sale when it comes to insurance or anything else.

See: http://MedicareAgentTraining.com for more help on how to sell Medicare insurance by phone

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SAP 028: Voicemail Effectiveness

Do you take the machine gun approach to leaving a voicemail?
Or are you thoughtful in the message that you leave, encouraging with your tone of voice, diction, speed, and message for the person to call you back?

This is a drastic example of what not to do..

1) Who are you?
2) What are you calling about? (“What’s in it for me?”)
3) Phone number given, twice, at writing speed.

For helpful agent information, visit MedicareAgentTraining.com

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SAP 026: Medicare Supplement Marketing Tips from the Fair

At the Coastal Carolina Fair in Charleston, SC, I saw some very interesting similarities between the marketing tactics employed by the fair and those used by some insurance agents in the Medicare Supplement market.

Captive agents think that, somehow, every person can fit within their plans. This is often like fitting a square peg into a round hole. It is not always a good idea to attempt it!

Independent Medicare agents find the best solution in any local market and provide full transparency in the process. This allows the senior client to trust that they not only have the BEST available plan in their market, but they also know that this agent can continue to shop the market in the future, if their rate increases get out of the norm with their chosen carrier.

For helpful agent information, visit MedicareAgentTraining.com

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