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Change Before You Have To: Working the Senior Market

Since 1965 when Medicare began, soliciting people that are Medicare recipients has been the gateway to the Senior Market. For many years selling 200 or more Medicare Supplement policies would ensure an agent a standard of living well beyond the norm. But, things have changed.

With regulated prospecting, reduced compensation and a myriad of other issues selling 200 Medicare Supplements a year is hard work. Consider this:

200 Medicare Supplement Policies sold

Average commission 18 – 20%

Average premium $1700

200 X $1700 = $340,000 premium X 19% = $64,600 commissions

We at Senior Marketing Specialists are dedicating the month of January to helping you, the agent, add $30,000 to $40,000 in additional income to this equation seeing the same people you call on today for supplementing Medicare.

In our upcoming webinar on Thursday, January 9th we will be highlighting two primary products that your clients need, Final Expense and Guaranteed Issue Life.

Why Cash is King...Hospital Indemnity Insurance

Indemnity insurance plans were one of the first health plans to ever be sold in this country. A very simple concept, if you have an illness or accident and accrue medical bills we, the insurer, will pay you a set dollar, indemnity, amount based upon the policy provisions for coverage. 

Many policies in the health insurance field today are so complicated in their benefit structure that even I, with 30+ years’ experience, have a have a hard time understanding what is covered and how much am I going to get paid. The Hospital Indemnity Policies being offered today are a classic example of knowing what you’re buying and understanding the benefits. These policies provide cash to the policyholder that can be used for any number of items after they have been confined to a hospital:

• Paying health insurance deductibles, whether underage, Medicare Advantage or Medicare Supplement.
• Paying for charges not covered by other insurance.
• Paying for relative travel and lodging to help out.
• Paying for relative travel and lodging to help out.
• Paying bills at home. 
• Paying for housekeeping while you recover.
• Etc...

Many of these policies also offer riders to pay for doctors, surgery, cancer and prescription drugs.  In most cases the cash indemnity is paid to the policyholder direct and they can then use the money as they see fit. The underwriting is minimal and premiums are affordable, starting at just a few dollars a month. Even those on a fixed budget may able to afford this coverage.

The largest medical bills that a person receives are when they end up hospitalized for illness or accident. So, why not insure that risk and make sure you have the money when you need it the most, after being confined to a hospital for illness or accident. After all, CASH IS KING!!!

(This article was written by Philip Warren of Senior Marketing Specialists.)