If you are reading this, you want to be a successful Medicare insurance agent. So, you know what you want to be but do you know how to get there?
A successful Medicare insurance agent is methodical.
Selling Medicare insurance involves you helping seniors. Retired seniors are usually on a fixed income and, consequently, have more of a routine than those in the workforce. So, if they are in a routine you need to be also. Your routine should mirror theirs to best appeal to them. There’s an easy way to approach the senior market methodically. Use the yearly calendar to your advantage.
Follow the quarters.
Q1 – During the first quarter of the year, you will be dealing with the Annual Disenrollment Period (ADP). So the government, in its infinite wisdom, implemented a disenrollment period after the enrollment period, instead of just allowing enrollment and disenrollment all year long. This period of time is GOLD for a successful Medicare insurance agent because it allows you to solidify your client base and gain more from your lost opportunities during the Annual Enrollment Period (AEP).
Solidify Client Base – During the ADP you keep communication high with your client base, making sure they are happy with their plan. This is a great time to be more social and get to know your clients better. It’s also a great time to let them know about the ADP before someone else does. Make sure they know you are more than happy to re-evaluate their proper coverage if needed. And……..lobby for referrals.
Additional Opportunities – ADP is a time when people can make one change if they don’t like the plan they chose in the AEP. So it’s a buyer’s remorse period and you can be the FIXER for your client’s friends, neighbors, and family. Also, you can revisit those who you didn’t sell in the AEP. Those lost opportunities are now available to you if they know you are available to review their coverage and help them make changes. Your Medicare leads will be a mix of T65, who you can write now, and future appointments for either their T65 window or AEP.
Q2 – The second quarter is a great time to stay in touch with all of your client base. Notice a pattern here? Communication! Constant, friendly relationship-building activities. The products you focus on are largely up to you but many successful Medicare insurance agents use this time to focus on life insurance evaluations and retirement planning with annuities, Indexed Universal Life (IULs), and Whole Life. Don’t back off your Medicare marketing but shift it to those turning 65, retiring, moving, losing a spouse, or other SEP opportunities where seniors can make Medicare selections or need advice. Q2 is also time to start setting appointments for October 1st. Beginning October 1st you can make Medicare Advantage presentations. You can’t enroll them yet, but you can get things lined up for an enrollment frenzy. If you pack the first two weeks of AEP with presentations, you will feel so good on October 15th when you can enroll them all! Use your calendar and start booking it. The better you do now, the better your entire year will be. Now is the time to pump up your Medicare leads investment.
Q3 – The third quarter is all about certifications while continuing to fill up your calendar. AHIP starts and carriers announce their new plans and county expansions between June and July. So, while you hang out at the pool and get a tan, you can do your AHIP and carrier certifications, make sure your Anti-Money Laundering AML is up to date too. Now is the time to get all the boring red-tape handled. By the end of the third quarter, you should have every day from October 1st through December 7th booked solid! Do not fail to do this and do not procrastinate. The difference between a successful Medicare insurance agent and an unsuccessful one is preparation. Those who prepare can write upwards of 150 policies. Those who do not prepare might write between 5 to 15. Do the math. Which agent would you rather be? Also, make sure to move any carrier contracts early in Q3. If you wait, it could take 2 months or longer. Early in Q3, it might only take a week or two. Many agents, who procrastinate, are deep into AEP by the time their carrier appointments are verified and they are ready to sell. By that time the game is underway already. Not a good situation. Do not procrastinate in Q3. Keep working Medicare leads.
Q4 – Successful Medicare insurance agents are super busy for anything extra from the first day of Q4 all the way through December 7th. Later in December is all family time, or it should be if you dedicate AEP to packing your business. Notice this paragraph is smaller than all the rest, but much of your money will be earned in Q4. Lower Medicare leads down during this time.
Medicare Leads Plan – Generally, the best number of Medicare leads to work per quarter is:
- Q1 – 250/agent/month
- Q2 – 500/agent/month
- Q3 – 500/agent/month
- Q4 – 100/agent/month
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