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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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