DSNP’s: Who They Are & Why Work Them – Presenter: Rob Bever
This presentation captured the many reasons that Dual Eligibles are a great market for any agent. A quick recap:
Most agents I talk to don’t like working with Dual Eligible beneficiaries and want nothing to do with them. The most common reason I hear is that they fall off the books too easily. This got me thinking, “How was RBI’s Sales Manager, Charlie Ferrell, able to build his business on Dual Eligible’s while I’m talking to agents who can’t even get them to stay on the plan for 1 year?” The answer is usually a combination of a couple things like, not following-up, and not returning phone calls.
If you ask me, working with Dual Eligible beneficiaries is more fulfilling than selling regular MAPD’s or Medicare Supplement policies, because these are people that truly need help and in a lot of cases have no one else to turn to.
Grassroots Campaign: Business Growth Through Educational Events – Presenter: Charlie Ferrell
This presentation was all about the radical idea that a truly GREAT Educational Events will pay dividends with referrals and building a reputation in your community.
Here’s the exceprt:
Imagine you hosting a great educational event every 3 months at the same location. If you’re doing it right by, making them fun and interactive, being engaging, and of course presenting good information then the people who attend are that much more likely to tell their friends and family about a great free event (your event if you’re still following me) and even more likely to reach out to you when they have questions about their Medicare or want to switch plans.
Intentional Scheduling: How Efficiency Increases Sales – Presenter: Justin Bever
How do you ensure that you’ll have a great open enrollment? It’s all in the preparation.
In this presentation, we talked about managing back-end office processes like, turning in all your applications at the end of the day while making sure everything gets documented and saved along the way. You’ll be amazed at just how much time you can save by working smarter, not harder, to stay organized and on top your crazy workload during the Annual Enrollment Period.
My bottom-line takeaway? Hire a temporary assistant (or get a family member to help for cheap labor!) to help stay organized during AEP. Even if they just call and set appointments with your clients and potential clients, you’ll be able to see more clients in a day.
How to Succeed in a Commission-only Business – Presenter: Justin Bever
The focus of this presentation was an answer to the question: how do Medicare brokers survive until late January and sometimes early February before they even see a dime from their Medicare Advantage enrollments from last year’s AEP?
Short Answer: Burn through your savings account.
Long Answer: Very carefully! All kidding aside, if you don’t have a good amount of cash that you can live on for 3+ months, what do you do for the Annual Enrollment Period? There’s a couple options:
- Look for an agency that will advance your commissions (usually career agent programs will offer this — call RBI to learn about this option, ask for Charlie!)
- Cross-sell ancillary products like Hospital Indemnity, First Diagnosis Cancer, and Short Term care that typically pay in 7 – 10 days, MUCH quicker than MA plans.
Turning Your Business Into an LLC – Presenter: Charlie Ferrell
The two major reasons ANY agent should run their business as an LLC are tax advantages and to protect you and your assets with an extra layer of liability protection. Another reason is the ability to provide for your family should something happen to you. For example, if you were to pass away suddenly and you are contracted directly with a carrier as an individual, those commissions would cease to be paid upon your death. If you were contracted as an LLC and you were to pass away, your commissions would continue to be paid as long as your entity remains in compliance with the carrier contract.
We’ve actually partnered with the ASU Alumni Law Group to get you a discounted rate when forming your own business entity. If you would like their contact information, please give us a call (1-800-997-3107) and we’d be happy to help. Don’t forget to tell them that RB Insurance Group referred you.
A special thanks to those of you that were able to attend our 2nd annual Sales Champion Summit! We truly appreciate you taking the time out of your busy lives to attend. Hopefully you had a lot of good takeaways from the event that will help take your Medicare business to the next level. We hope you will be able to join us for next year’s Sales Champion Summit! Check out some pictures below from this years event.