take care of your clients Archives - Page 3 of 3

A free Power of Attorney form can spare loved ones from additional grief

August 20, 2015/in RB Insurance news, RBI Classroom, Stories From the Field, Your Office Shortcuts /by Tom O'Neil

The Power of Attorney form (POA form), often referred to as the Life Care Planning Packet, can be one of the most valuable extras senior insurance agents can provide to their clients. They’re simple to complete — just a few printed pages or a website link. Agents know that building credibility requires constant effort, and providing these fillable documents to clients demonstrates a high degree of professionalism. In a distant, previous life I prepared Power of Attorney forms and other documents for clients as a paralegal. I was a total convert to the art of preparedness then, and for the last couple of decades in the insurance business my respect for this status has served me well.

For a case study on POAs and what they can mean for your clients, let’s go back to 2012, just before the Christmas holiday. A best friend and old college buddy, Jerry, planned a three-day trip to Las Vegas with me. Jerry was a successful businessman, had a nice home in Scottsdale and was fairly wealthy. He lived alone, had no siblings and his only two relatives were younger cousins back East with whom he did not communicate.

Jerry was meticulous in collecting the commissions owed him from the tech companies he independently and earnestly represented. He never missed a scheduled oil change for his luxury sedan. He always paid his bills early. He was younger than any of us buddies, in his early fifties. Unfortunately he absolutely could not confide to his two best friends in the universe that he had been diagnosed a few years earlier with congestive heart failure. Jerry’s condition was not readily evident, so he would view such a personal disclosure as a sign of weakness — it was just his nature. Then it happened.

Jerry called us to his bedside at Scottsdale Shea Hospital. His surgeon insisted he have a representative with Power of Attorney standing by during an imminent surgery. Jerry advised me that the procedure was merely a routine, “almost simple” surgical implantation of a pacemaker. He was still unable to share with his two oldest, best friends what was really happening.

I agreed to sign the hospital’s POA form and stay close by, available on my cell phone. After the unsuccessful attempt to implant what was actually a cardioverter defibrillator (ICD) unit, I was summoned to the intensive care unit by the surgeon and given all the accurate medical information regarding the surgery. The doctor was shocked Jerry had not told me about the severity of his condition.

Six days later, with his other best friend standing by my side, I gave the order to remove my old buddy from life support. Jerry had never appointed a Medical or financial Power of Attorney. There was no Estate Representative (or executor as referred to in some states) noted. Most importantly, he had not shared with us his wishes or instructions regarding this inevitable occurrence that my friend and I could follow on his behalf. We were the only two people he could really ever call.

Jerry could have avoided inflicting this type of stress and pain on his friends with a simple Life Care Planning exercise and a couple of frank discussions about his wishes. POA documents are usually available online for free from your state’s Attorney General website or equivalent office. Here is a POA packet provided by the Arizona Attorney General’s office for our local agents or just to get a general idea of what they contain.

Advise your client about free Life Care Planning documents that usually include a Health Care POA, Living Will (End of Life Care). A DNR or Do Not Resuscitate form is available if needed as well as other documents that can convey to family or friends the client’s own wishes and instructions. Encourage your clients to discuss medical matters and final wishes in detail and in advance with their trusted representative. That trusted POA might have to give the terrible order to terminate life support.

Call RB Insurance at (800) 997 3107 or email me to discuss the Power of Attorney form, final expense insurance and other aspects of end of life planning to show your clients you are truly looking out for their health and financial well being.

Referrals maximize your Medicare book of business

August 4, 2015/in 6 Hours to 6 Figures, Community Marketing, RBI Classroom, Sales Strategies, Stories From the Field, Your Office Shortcuts /by Brandon Clay

Probably the most effective way to find your next client is by looking to the clients you already have.

Referrals are the Holy Grail of building your Medicare book of business. The credibility and trust you have built with one client automatically transfers to your new one, so you start from a hero status, not at ground zero, if your first client is a raving fan. Closing rates on referrals have always been high, too, which means referrals maximize your investment of time and energy into your business. And yet most agents still don’t ask their clients for referrals!

When I inquire as to why, many feel they haven’t earned or warranted them. They think they haven’t built the connection that establishes the right to ask for and expect referrals. However, communication is the key to building any relationship, and oftentimes it’s the well timed, small outreaches that make us more memorable than any over the top gestures. When you communicate to create raving fans, get repeat business and generate referrals, you are simply making sure you are on the top of their minds when a friend, coworker or relative mentions a problem you can help solve.

Getting referrals is not nearly as hard as some sales people try to make it, but you do have to have a strategy. Here are my top 10 ways to stay in touch with clients:

1. Organize your clients. Where is your list of clients right now? If you’re like the average senior insurance agent, they’re on the floor of your back seat, stuffed in your leather portfolio, packed in your trunk or stashed in folders. A lot of good they are going to do you in there. Get organized — at the very least, get your clients in an Excel spreadsheet. Trust me, you will be glad you did!

2. Use a Client Relationship Manager (CRM). Once you have your clients organized and electronically archived, take the next step and upload them into a CRM. This will allow you to conduct specific outreach campaigns, set up reminders and do a host of other structured, “high touch” activities. Free CRM obviously has no cost, but the most robust and agent-focused CRM I’ve seen is the Medicare Sales Engine.

3. Send a Thank You. This is the icebreaker for all your future communications. It sets the stage for elevating your clients to raving fans status. Write them by hand (No rubber stamps!) and include a personal note to make it memorable.

4. Call them after 30, 60 and 90 days. The best time to solidify the sale and the relationship is during the reinforcement phase after the sale. Set yourself up to respond to service issues and product problems when you call and put yourself in the position to get repeat business and referrals. Show your client you care by asking how their family is doing and remember any health issues they may have gone through and needed your assistance with.

5. Remember them on special occasions. Your CRM is fantastic for reminding you about client birthdays, product anniversaries, annual reviews and more. These contacts have to be personal in nature to set them apart from what others are doing.

As you build your year-long strategy, the key is not to saturate your client with frivolous outreach or give them a sales pitch each time. You want to make sure they know you will stay in touch! I’ll share the remaining top 10 items next week.

Dementia can affect how you sell senior insurance

May 15, 2015/in RB Insurance news /by Bob Bever

Most of us know AARP alerts seniors about scams, fraud and identity theft that can impact their financial well-being and cause them intense stress. Some of the risks our aging population faces could affect agents and their livelihood, too, though in a different way.

Many agents have probably heard about Glenn Neasham and how just one annuity sale almost permanently damaged his career as a sales professional and put him in jail. He was convicted of felony theft under California’s Elder Abuse Law in 2011 after selling an indexed annuity to 83-year-old Fran Shuber three years prior.

The case’s main questions were whether the financial product was truly suitable to be sold to seniors up to age 85, as the state department of Insurance had previously determined, and whether the client had sufficient cognitive ability to understand its risks and benefits and not otherwise be vulnerable to manipulation. After appealing, the conviction was reversed against Neasham in 2013.

Being attentive to how well older adults grasp things and sensitively responding is the greatest respect you can show them, but it can be tricky for agents because there are no industry standards or training available to help them do so in the appointment. Contact RB Insurance for helpful tips that can help you be proactive.

I won’t go too far into California v. Nesham’s legal workings (You can read more about its complexity and drama here), but will instead focus on how agents can learn to make good judgments about clients’ cognitive health in light of the case. Being attentive to how well older adults grasp things and sensitively responding is the greatest respect you can show them, but it can be tricky for agents because there are no industry standards or training available to help them do so in the appointment. Even if it sometimes means agents may not be able to make a sale, it can protect them from getting into serious legal trouble.

Neasham argued his client showed no signs of cognitive impairment when he sold her the indexed annuity in 2008. According to the Society of Certified Senior’s coverage of the case on their blog, it did not become apparent to Shuber’s family that she may have showed signs of Alzheimer’s disease, a specific kind of dementia, until 2011. This is when her family obtained conservatorship.

Because there were no industry standards to help agents determine how well a prospect understands the risks and benefits of a product, who was to say when the client actually lost her cognitive abilities? The jury’s verdict was eventually reversed by a state appellate court, but the damage had already been done — Neasham lost his license, his house and he had to declare bankruptcy. His license has been reinstated since, but he has to completely rebuild his book of business and deal with going through six years of litigation.

This case teaches agents a valuable lesson despite the fact it was decertified or disallowed from becoming a precedent for future cases. The Society of Certified Senior Advisors and other interest groups came out with several suggestions to be proactive about client cognitive ability. Many of them are common sense and are easy to implement, such as asking your potential client to invite a family member or neighbor to the appointment to help. You can also ask simple questions like “Who is the current president?” or something similar. Consider asking your client permission to record your appointment conversation, and offer him or her a copy. One of the best ways to confirm understanding is to simply ask a client explain the product back to you. Always take copious notes, and include them in your client file or on your client’s profile within the Medicare Sales Engine. As a licensed agent, your notes are admissible in court.

The number of people who will be diagnosed with a form of dementia is expected to triple by 2050, so the issue of cognitive ability is only going to become more relevant to senior insurance agents. Elder abuse is real, and unfortunately, it’s as prevalent as Medicare fraud, waste and abuse, which agents do receive guidance and training on. Start protecting yourself now to avoid the legal hazard of signing someone up for something they may not totally comprehend or want.

Call RB Insurance at (800) 997 3107 or email me for more advice about selling to the senior market and to discover how the Medicare Sales Engine can organize all of your clients’ information for quick, simple reference.

7 reasons to make The Agent’s Advantage your go-to resource

May 14, 2015/in RB Insurance news /by Jennifer Gunther

The Agent’s Advantage, RB Insurance Group’s official blog, is updated almost daily for you to read on your computer, phone or tablet between appointments or as you get Ready to Sell for AEP. Here are seven reasons why you should make it your first stop for senior insurance sales news and special promotions.

1. Don’t sweat AEP. The Agent’s Advantage is your go-to for carrier-specific information and instructions during the busiest time of the year for senior insurance advisors. Learn more about our Medicare Sales Engine, a powerfully simple system you can use to manage your insurance business. Request your account today and start communicating with your Leads and clients like never before (By the way, its completely free for affiliated agents!).

2. AEP is not the only time for sales when you’ve got a portfolio of products. Learn how to take advantage of clients’ Special Election Periods to get the most out of your Medicare Advantage products, but don’t stop there. Appoint with best-selling Medicare Supplements, take on Hospital Indemnity or even add dental coverage to your portfolio to meet all your clients’ health needs and earn commissions year round.

3. Receive fewer emails. While some information belongs in your Inbox, such as your contract statuses and commission payments, others don’t need to take up such valuable space. We invite you to scroll more and sift less — you’ll get one weekly roundup of content each week when you subscribe to The Agent’s Advantage, and our easy to browse content may make you want to cancel some of your other subscriptions.

4. Expert sales advice from Senior Broker Tom O’Neil. Tom’s here to share wisdom he’s accrued during his 20-plus years in the industry. Writing weekly about best sales practices and simple ways to go the extra mile, Tom is also available to meet with RB Insurance-affiliated agents whenever they need help. If you’re in the area, make an in-person appointment at our Chandler office or simply call (800) 997 3107 to speak with him, one-to-one, on the phone. Email him here.

5. Start a conversation with us. Like what you’re reading or want to learn more about something we’ve covered? Care to join our editorial staff and share your professional insight? Simply fill out our Contact form or Follow us on LinkedIn to let us know!

6. Find you authentic sales voice with Brandon Clay and learn what you need to sell to earn 6 figures. Every Tuesday, bestselling author and veteran sales coach Brandon Clay shows you how to approach sales with confidence, make the most out of marketing tools and build a portfolio that increases renewals and referrals to strengthen your business and grow your income. As you serve, you deserve!

7. Look no further than The Agent’s Advantage for regulatory news. We pay close attention to CMS, HHS and even Capitol Hill to help you navigate regulatory changes and announcements. Count on us for easy to digest Medicare, Medicaid and Affordable Care Act news that speaks directly to you as an agent.

Subscribing is easy — just click here.

Producer Profile: Successful Medicare agents market themselves in more than one way

August 20, 2015/in Producer Profile /by Tom O'Neil

Medicare cost-sharing

RBI National Sales Manager: Charlie Ferrell

Charlie started his senior insurance career after a brief 30-year stint in the restaurant industry. In the 12 years since then, he has been blazing trails and setting standards for excellence all over! A native son of Utah, he has been a state manager for RBI as well as a managing general agent for UHC, Coventry, Molina and other carriers! Charlie came to RBI as the National Sales Manager in 2015, and is an invaluable resource for our agents and staff for marketing, compliance, and sales topics! Charlie’s field experience with senior insurance sales has made him an expert in our insurance CRM: Medicare Sales Engine. If all of that wasn’t enough, Charlie specializes in the Dual-Eligible market and is leading the charge behind RBI’s new “Dual Eligibles for Newbies” seminars!

Successful Medicare Agents market themselves in more ways than one

Today I want to highlight three outstanding examples of our affiliated agents’ success as we get ready for our 3rd annual, Sales Champion Summit. These Medicare agents come from different backgrounds, but all of them have three common strengths: They’re driven to succeed, they go the extra mile for their clients and each of them are able to take advantage of different opportunities to market themselves.

Jim: The Man, the Myth, the MACHINE

Jim has been an insurance agent for over 30 years. He started out as a Farmers agent working with his father in Kansas City, Mo. After his father passed away he started his own successful marketing company, but missed interacting with clients. Jim got back into the insurance business a few years later and has steadily been growing his sales since.

He has over 900 clients and is still actively selling. Because he loves to travel, Jim has combined it with his passion for serving low-income seniors. He has been working out of state to help deserving people while he checks out new places on a regular basis. Jim typically enrolls between 10 and 20 new clients each month, mostly by sending out discounted Business Reply Cards and advertising in free local papers. He sets up a Bingo event at least once a month to keep his name on his clients’ lips as they refer friends and family.

Rich: Gotta pay for the kids

Richard has been working in the senior market for more than 10 years and loves every minute of it. He loves to travel, too, but keeps things local in Arizona, driving from Prescott and Globe all the way to Tucson to meet with prospects and clients. You could say Richard really gets around. He works year round, selling hospital indemnity products to compliment his Medicare Advantage portfolio.

He also has what he calls two seasons: Summer is for Medicare Supplements, and fall is for Medicare Advantage. Richard loves to do seminars in the fall because they’re an easy way for him to reach a large audience quickly. He carefully schedules his seminars around the Annual Enrollment Period to leave enough time after events to answer personal questions and follow up with in-home visits when needed. Richard usually targets his seminars to under-served, outlying markets that rarely have Medicare presentations. They truly appreciate the time and expertise Richard brings to their communities.

Susan: I’ll never retire

Susan has also been around for a long time. She is passionate about her work and her clients and is now a senior herself. She hasn’t let that slow her sales down at all, though. Susan finds that clients find her more relatable, which explains why most of her business now comes from referrals and word of mouth. She augments this most fundamental marketing strategy with mailers from RB Insurance’s Medicare Compare brand as well. Her target market is looking for Medicare Supplements, but she also sells Medicare Advantage plans in the fall during AEP. When she’s not in the field as an agent, Susan loves to volunteer and help other small businesses in her community. Susan earns clients’ trust by being careful not to mix Medicare and senior insurance discussions with her volunteering so she does not violate the Medicare Marketing Guidelines.

As you can see, each of these agents have three different personalities and strategies for introducing themselves to dozens of potential clients. Each of them use simple marketing techniques to expand their customer base, ranging from newspaper ads to volunteering with a nonprofit organization supporting seniors who may also be looking for a great health plan. These affiliated agents go above and beyond by helping out in their communities. Give me a call for tips on how to succeed in the Medicare market, 1-800-997-3107!

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