Anyone who enters into the Insurance sales field should start off looking at this as a business. Anytime you work for someone and you are not receiving a guaranteed wage (such as working on a commission) you are in business for yourself. If you sell no policies, you get no commission which means no paycheck.
If I click on a website that uses the general term “boomer” in their marketing vernacular, and the products they sell are anti-aging creams and serums, which age group are they targeting? In my 40’s I may have bought up every anti-aging cream on the market, but folks in their 60’s may be not as interested in anti-aging lotions and more interested in moisture and sun protection.
Many of these same individuals who receive these final expense lead cards also qualify for a medicare supplement. If you have an individual who is 65 or older, ask a question “who do you have your health insurance with”? Many individuals will tell you and also be interested to find out if they can get coverage for a lower price. Whether the prospect has a medicare supplement leads generation or a Medicare Advantage plan, it doesn’t matter. Give them a quote. Many times you will be able to pull an extra sale out of the house to increase your profit margin.
ICEP – Initial Coverage Election Period. This is period when you first go on Medicare, in which you can “elect” a Medicare Advantage plan. This period is three months before you go on Medicare Part B and three months after you go on Medicare Part B (for a total of 6 months).
The attained age rate premium may seem like the lowest premium of all. Out of all the medicare supplements pricings, it starts out at the lowest pricing. However, it doesn’t stay low. The premiums will go up as you get older. They will continue to go up. It is similar to an adjustable rate mortgage. There is no fixed price, or guarantee of a fixed price. This will hurt you in the long run. It’s a common fact that you will have less income as you get older. With continuously increasing premiums, you may find that you can’t afford to pay for your supplemental insurance at all. This can result in loss of policy, which you may need at a crucial time in your life.
Don’t want to switch because you are satisfied with your coverage? This is a common concern. The fact is that supplement plans are standardized by the federal government. An “F” supplement with ABC Insurance Company is the exact same as an “F” supplement with XYZ Insurance Company. The benefits are exactly the same, but the cost will vary from company to company. If you switch from like plan to like plan, your coverage will not change and you do not have to worry if your doctor will accept your plan as long as they accept Medicare.
Plan M will cover 20% of the costs that Medicare does not cover. It is very similar to Plan D and does not have any co-pays associated with it. It is generally cheaper to pay for this plan than it is for Plan F.