How to successfully sell Medicare Advantage plans 1
Potential vendors call my company each day and tell me their intention of selling Medicare policies. They think the market for senior citizens is where they will make profit and want to start selling immediately. Nine out of ten of these people cannot even leave the first month. I will talk about what they are doing wrongly and how you can avoid accidents that prevented them from taking off. The following information I share about medicare Advantage plans is based on my trial and error when selling Medicare and health plans in the past 14 years. I have also worked with hundreds of agents with a variety of experiences and skills. Here is a summary of how you can start and succeed in Medicare sales.
License for insurance and errors & omissions: Individuals must possess a valid insurance license in the state in which you plan to do business. Many operators will also require you to have an E and O insurance. There are several E and O operators. NAPA generally has a good price, which should be in the range of $500 to $600 a year.Education: A huge mistake that people make is that they attempt to sell Medicare policies without having an understanding of Medicare. You must understand Medicare A and B before feeling safe selling people to supplement Medicare A and B coverage. Find a copy of the book “Medicare and you” and read it a couple of times to begin with. Then interact with an individual who has experience selling plans for at least a few years to get real-life explanations. There are also several online presentations that offer a high-level overview of the original Medicare. Such presentations will also assist you with the basics.
Company Commitments: You must be designated to sell at least 2 different companies that offer complementary Medicare Advantage and Medicare plans in the area where you will work. Over time, it will be useful to be indicated with the majority, if not all, but that would be too much to begin with. Two companies will do this at the beginning. Again, use the Internet to get an idea of which companies are competitive in your area. There are also several wholesale Medicare websites that allow you to make basic comparisons in any zip code. hen obtaining supplies from the company, review the summary of benefits several times. You should be able to recite the main copies and the benefits. Scroll through the applications and learn from beginning to end.