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As you are talking with seniors just aging into the Medicare market, it is important to advise them about the penalties they will pay if they do not sign up for Medicare Part B at the right time. For those seniors who have already filed for Social Security, they will automatically be enrolled in Medicare at age sixty-five. However, seniors who continue in the workforce, either by choice or necessity, and delay their Medicare coverage need to notify Medicare of their decision. Otherwise they will face a 10% Part B penalty for each year that they do not file. So someone filing for the first time at age seventy will face a 50% Part B penalty. The penalty is permanent and can translate into thousands of dollars in unnecessary penalty charges.

For your clients who decide to continue working, advise them to notify Medicare of their decision as soon as they turn sixty-five to ensure they will avoid penalties later. Especially, those seniors who work at a company with over twenty employees, as their employer will continue to provide their benefits. They can do this by choosing the option on the back of the Medicare card that is sent, calling the Social Security Administration, or visiting the SSA website. For their Part D prescription coverage, seniors can delay filing as long as their employer provides equal or better coverage.

Those seniors earning more should also be informed about the surcharges on high-income seniors. Currently, this affects only 5% of seniors, however those still in the workforce are more likely than those retired to fall into the income bracket. The extra charges can be applied not only to Part B, but also Medicare Advantage and Part D coverage.

Advising your prospects of these penalties is great for client retention and relationship growth. While they continue to receive their healthcare from their employer, you can work with them on their final expense, long-term care, and annuity needs until they require a Medicare Supplement.

Please give us your feedback!
Do you have clients who didn't know about these penalties and have suffered inflated costs due to delaying? How do you go about avising your clients who want to delay their Medicare benefits?

Source: KHN

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Precision Senior Marketing is now a national distributor of the new Stonebridge Life Medicare Supplement product. Scheduled for broad release, this product is now available for agent contracting and will be released to the public in April 2012.

Austin, TX January 20th, 2012 -- Precision Senior Marketing (PSM), a national Medicare Broker, announced today that it is now distributing the Stonebridge Life Medicare Supplement product. Scheduled for a broad release, Stonebridge Medicare Supplement brings the financial stability and national brand recognition of the Stonebridge name, to the senior market.

"This is the most prominent Medicare product release in years," says PSM President Lucas Vandenberg. "PSM is honored to be a distributor of Stonebridge Med Supp, which we believe will be highly sought after by senior market insurance agents throughout the country."

Stonebridge Life Insurance Company is a Transamerica company with more than 20 markets in the Americas, Europe, and Asia. Currently, Stonebridge Life covers over 3.7 million consumers with a variety of life, health, accident, dental, and now Medicare Supplement insurance plans. They offer quality products with quick response times as well as courteous and dependable service.

"Stonebridge Life is a trusted name in the insurance industry and I am excited about presenting this product to my senior clients," says PSM agent Steve Wilson. "That trust factor, in combination with competitive premiums, is why I anticipate a fantastic reception across the country."

PSM encourages independent insurance agents to visit its website and/or call 1-800-998-7715 to learn more about the new Stonebridge Life Med Supp product.

Located in Austin, Texas, Precision Senior Marketing, LLC is a full-service, national insurance marketing organization dedicated to recruiting, servicing, and supporting the best senior market insurance agents in the United States. You can visit their website at www.psmbrokerage.com.

LL#25557816

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This week the federal government released a projected savings of $148 billion dollars over the next 10 years by increasing Medicare eligibility by two years to age 67 by 2021. This is lower than the Congressional Budget Office’s (CBO) March estimate of $162 billion, however that calculation did not include premiums paid by seniors into the program. Even though the savings will not significantly affect the budget deficit, they will be able to pay for “doc fix”; a permanent pay raise legislated by Congress for Medicare doctors every year with the proposed money accumulated by raising the eligibility age.

President Obama supports increasing Medicare’s eligibility whereas most Democrats in Congress are against it. Some of the CBO’s findings warn that raising the eligibility age may lead to more people applying for Medicaid, therefore receiving lower quality care and paying more out-of-pocket than they would on Medicare.

However on the positive side, those between 65 and 67 who need private health insurance could have better access to doctors. This is especially true if Obama’s healthcare law remains in place. Seniors would have access to private coverage though the new insurance exchanges.

The CBO also found that increasing the Social Security age in two-month increments for those born between 1949 and 1960 will save an additional $144 billion. However, increasing the Social Security eligibility age has remained politically untouchable by both parties in the 112th Congress.

Please give us your feedback!
What do you think about the proposal to increase the Medicare eligibility year from 65 to 67? How will that affect your Medicare Supplement business? What is your opinion on the decision to propose increase the age of eligibility for Medicare rather than Social Security?

Source: The Hill

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With the holidays and AEP just ending now is the time we usually resolve to better our lives in the following year. For most people the resolutions involve weight loss, exercise, and smoking. However the same tactics used to better your health can be applied toward your business. As you plan your 2012 goals and resolutions it’s important to keep a few things in mind to keep yourself on track. This way, come March, you will still be on track for success and not be back to the old habits your resolutions were created to combat.

1. Set a specific goal.
   Rather than saying, “I want to have more clients” try asking yourself, “who, what, when, and where” in order to establish a plan. Who is your target audience? What new things are you going to try in order to obtain new clients? How many clients do you want to gain a month? Which areas are you going to prospect in? When you drill down the specifics of your goal you will be on your way to keeping yourself accountable to your success.
   
   
2. Set both short-term and long-term goals.
   The key to attainable goals is to set up both short-term and long-term goals. If you are looking to gain more referrals this year decide not only on how many for the year, but also take into consideration the quarter, the month, and the week. Breaking it down by week, ask yourself what specifically you are going to do this week toward gaining more referrals. Through trial and error you will establish a weekly system that works for you and the long-term goals you have for your business.
   
   
3. Make realistic goals
   It’s ambitious to say that you will make 500 cold calls a week, but remember to take into consideration how many cold calls you have made in the past. If it is significantly less, commit to cold calling 100 people with a goal to reach 500 at first. Once you find it easy to reach 100, expand it to 150 with increasing intervals toward 500. An ambitious goal is great to have, but be sure to allow yourself the time to reach it without getting frustrated and giving up.
   
   
4. Establish accountability.
   Human nature dictates that we will go to great lengths to avoid pain no matter how valid the threat. This morphs itself into excuses, such as “I don’t have enough time” or “I’m tired”, in order to avoid the actions you perceive as painful. In order to establish accountability toward your goals set up a series of consequences for yourself that seem more painful than doing the activity you are trying to avoid. Telling your business partner you’ll give him $5,000 if you do not accomplish a specific goal in a realistic timeframe can be a great motivator, especially in times when your resolutions feel like a thing of the past.

As you come up with your resolutions for the year remember to keep them specific, establish a short-term focus toward long-term goals, make realistic commitments that go with your schedule, and hold yourself accountable by creating consequences. Once you break the cycle of losing interest in your resolutions you will feel more confident making grander changes in the future. If you'd like help coming up with resolutions for 2012, please call your marketer at 1-800-998-7715 to discuss the options that are best suited for your business growth.

Please give us your feedback!
What business resolutions have you made for 2012? Have you been able to keep resolutions in the past? If so, what tips do you have for others?

Source: LifeHealthPro

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Happy New Year! We at Precision Senior Marketing want to take this time to wish all of our agents and their families a happy holiday season. We appreciate your business and the opportunity to assist you in your senior market endeavors. As always, we are committed to bringing you the most competitive products with personal service from our dedicated staff. In 2012 we have several new and exciting products coming to market that we look forward to adding to your portfolio.

If you are new in the senior market let 2012 be the year you expand your business to include Medicare Supplements, final expense, and annuities. Give PSM a call at 1-800-997-7715 to get started

Here’s to a successful and prosperous 2012!

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The whirlwind of the Annual Enrollment Period ended December 7. As you catch your breath and prepare to enjoy the holiday season with your family and friends, you might find yourself wondering now what? Now is an ideal time to start planning for 2012 and there are many opportunities to take advantage of.

Unlike Medicare Advantage plans, Medicare Supplements can be sold at any point during the year to those who are age sixty-five or older (or those on Medicare disability).

Also the first quarter of 2012 is a great time to contact the new clients you signed up during AEP to see if there are any other products they would like to take advantage of such as:

• Final Expense
  
  
• Annuities
  
  
• Short Term Care
  
  
• Long Term Care
  
  
• Cancer Solutions

By adding additional products to your portfolio you are helping to make your business well-rounded, increase your sales volume, and offer another way to market to your prospects and clients. Plus the more policies your clients have with you, the more likely they are to keep their business with you as their agent.

As we wind down 2011 be sure to take a good look at your portfolio and make sure you have the products you need to serve your clients. PSM will continue to bring you the newest in Medicare Supplements with low rates and excellent compensation to help you maintain growth in your business.

Please give us your feedback!
What are you doing in preparation for 2012? Do you have any tips for those agents just getting started in the senior market?

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Success in selling to seniors is based on relationships, rapport, and trust. Recently a Forester’s research study concluded that there are three things all senior clients want from their relationship with their agent: to understand what they are buying, someone to be in control of their investments and insurance rather than feeling on their own, and frequency of contact. To maintain contact Rick Martin, CSA suggests a technique he calls "Catch Up, Update, and Referral."

1. Catch Up. Every few months contact your senior clients to catch up and take a personal interest in their grandkids or recent travel. Confirm that they are getting what they need from their insurance product; discuss any difficulties they might have had, and explain how you can solve their issues. Also you should suggest other products they might need such as annuities, final expense, short term care, or long term care policy.
   
   
2. Update. Seniors are interested in the news. With the Presidential election in 2012 political candidates will be talking about strategies to save money, including cuts to social security and Medicare. In these times it’s important to address any worries and fears your clients might have. The more you address their worries and assure them you will keep them up to date with any finalized changes, the more loyal those clients will be to you as their agent.
   
   
3. Referral. A bonus to keeping up with your clients every few months is that you should gain at least two referrals on every call. Explain what you’ve accomplished in the last year and then ask how you are doing so far. When your client answers "great", ask them, "Who do you know who could benefit from my services?" Close to 70% of seniors said their agent relationship was the result of a recommendation from either family or friends.

Catching up with your clients every few months is a great way to take a personal interest in their life, confirm they have the insurance products best suited for them, and request referrals. With satisfied clients staying on the books and multiple referrals a year, you will be able to continue to grow your business in a substantial way.

Please give us your feedback!
Do you use this tactic in gaining referrals? What strategy do you use for referrals?

Source: InsuranceNewsNet

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Most agents have at least a few prospects they have worked with but for one reason or another did not close. There are several different reasons that prospects can "go cold", and these prospects often end up in files out of sight and mind. Since leads are a business investment it is important to get your money’s worth and gain every new client you can from them. Therefore it is a good idea to look through those prospects in two months, five months, or even a year later and see if there is any way you can revive them with either a new approach or new product option now available in their area. With further product knowledge, education, and experience you can work to turn those "cold case" prospects into clients.

Sometimes cases can go cold when the client does not have a clear understanding of what they need from their supplemental insurance or they are not currently ready to purchase a plan. For these prospects, contact them closer to their sixty-fifth birthday and point out specific products and benefits based on their health and financial needs. Perhaps the client was only shopping at the time you last spoke and now they are ready to decide on a plan.

Another reason a prospect can go cold is if the client does not understand the underwriting process, especially if they have a medical condition that might make it more difficult. Also, the client must be comfortable with the cost of the plan that fits their needs. If in the past you didn’t have a plan in your portfolio within their budget, be sure to revisit their files whenever you add additional products. That way, when a new product comes out with a lower monthly premium or less stringent underwriting, you can contact those clients and improve their coverage and/or reduce their cost. Clients will be impressed by your thoroughness to find a plan to fit their lifestyle and word of mouth spreads quickly among senior communities.

Be sure to revisit your cold cases periodically in order to identify the ones that can be saved. With every new prospect you speak with you are further developing your sales strategy, and adding additional products can change your senior insurance portfolio to accommodate that prospect’s needs. For more tips and suggestions please contact your marketing representative who can guide you through the process and suggest additional products that will cover more prospects financial and health needs.

Please give us your feedback!
What do you do to revive "cold cases" in your business? Do you have any success stories? Any advice to agents who are just getting started in the process?

Source: Agent's Sales Journal

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In the past few years it has become more and more evident that the Internet is not a passing fad. It’s no longer a means of achieving more success but of staying in the game. Therefore, your marketing strategy is no longer "should I be marketing on the Internet?" but "how do I effectively market on the Internet?" This can be a daunting task, especially if you are new to online marketing. The most important thing is to realize all of the opportunities and revenue when you expand your business to sell Medicare supplements online.

It’s no surprise that the role social media plays is huge. In fact, social media is the No. 1 activity on the web, and if Facebook alone was a country it would be the third largest nation in the world with more than 800 million active members. There is a whole new realm of success in internet marketing; here are the three most popular social media websites to be using:

1. Facebook. As I said before, Facebook has the largest reach in social media today. However, it’s important to note that Facebook has a more "relational" sales style than "transactional." Share helpful videos and articles as well as photos from your company events and holiday parties. Steve Savant, author of "How to Become an Internet Sales Superstar" and host of the daily Internet talk show Business Insurance Zone explains, "Facebook is the estrogen zone." His suggestion as you start initially is to request to post photos via a spouse or other family member’s personal page, showing you with clients or at an event. Their friends can comment asking what you do, request a meeting, or offer a referral.
   
   
2. Twitter. Twitter is excellent for getting the word out about your recent YouTube videos, upcoming events, as well as linking to your informational industry articles. With only 140 characters allowed (including spaces and punctuation) it’s important to think of a meaningful message to entice your prospects and clients to click on your link and explore the content further.
   
   
3. LinkedIn. LinkedIn is usually thought of as the “business Facebook” in the social media world. Though it is not as social as its counterparts, their Groups are a great way to network and discuss industry topics with those who can relate. Also, your profile will allow you to connect with past coworkers who might provide referrals and connect with other agents who you want to work with.

To help spread the word, put your social media URLs on your e-mail signature and company stationary. Let your clients know they can find industry news and continuing education about their plans by "Liking" your page or "Following" your Twitter. Also, you should link to these sources on your homepage to further the information prospective clients have access to.

Though breaking into the social media sector may seem overwhelming at first, the referrals and business commissions are worth the extra effort to get involved. If you need any help or have questions, please call you marketer at 1-800-998-7715 for more information.

Please give us your feedback!
Do you use social media in your marketing? How has it helped you in your business? What did you do to get started?

Source: InsuranceNewsNet

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As most agents know, selling is not about closing. A poor closing ratio is a manifestation of the trap some salespeople fall into during the beginning of the sales process. Instead, sales are about establishing a relationship with your prospects and clients based on your real interest in their supplemental insurance needs. If you have found yourself having trouble closing lately, it is time to start asking yourself some questions.

1. Are my leads qualified?
   
   
2. Are my prospects interested or are they just tire-kicking?
   
   
3. What questions do I ask?
   
   
4. What is my follow up plan?

When you obtain a lead you will want to assure you have an interested client that will not result in a “tire kicker” who will waste your time. When you receive referrals they will most likely be interested. However, it is especially important to qualify when your leads have been purchased from a third party source.

Once you have confirmed the prospect is interested take time to ask questions to help you determine which products will best for their needs. In addition to a Medicare Supplement that suits their budget you can also suggest final expense insurance, short term insurance, or long term care insurance. Combo Apps, available from Forethought Life and Sentinel Life, allow you to use one application for both a Medicare supplement and final expense plan. By suggesting multiple products for the same client you have the opportunity to increase your commissions and customer retention, build your brand, and expand your business.

If your prospect is interested but not ready to make a buying decision immediately, follow up with them. Email can be useful, but a phone call is more personal and will show your genuine interest in their insurance needs.

Please give us your feedback!
Have you found that a problem with closing is a symptom of another problem? What do you change when you are having trouble closing?

Source: LifeHealthPro

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