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A recent study conducted by Kramer Direct analyzed 53 mailings received by a senior up to eight months before his 65th birthday. They looked at the timing, format, and offers that were sent to him in order to increase the effectiveness of your promotions, communications and strategies with the market aging into Medicare.

The companies who sent information and were included in the study were AARP, Aetna, Bankers Life & Casualty, Blue Cross/Blue Shield, Bravo, Colonial Penn, Humana, Physicians Mutual, United HealthCare, United of Omaha and Health Spring.

Eight-eight percent of the mailers were received between July and December, but the subject got a mailer as early as March. Envelope mailers were the overwhelming majority at 66%; postcards were used 30%; and tri-folds were used significantly less at only 4%. Most of the mailings proposed an offer to grab the prospects attention, with 45% of the mailers promising information or posing a question of interest to the senior.

The study concluded the following:

• To stand out from the competition and reach prospects before the other offers, it is best to mail six months in advance of prospect’s birthday.
  
  
• It is best to provide a mail-back option, rather than a single postcard with only a call-back option.
  
  
• Questions and new information are the best way to get the prospect’s attention based on the results of the study.
  
  
• Don’t just consider targeting the Turning 65 audience. Many agents have had success targeting ages 66+ to help prospects save money on their current coverage.

Since 1985, Kramer has provided pre-qualified leads to the insurance and financial industries. You can review more on Kramer Direct as well as view some of their current approved mailers by visiting the lead vendor page on our website.

PSM also works with numerous companies that offer free postcards to our contracted agents. To discuss these no cost options, please contact one of our Marketing Representatives at 800-998-7715.

Please give us your feedback!
Do you find these results surprising? When do you typically send out mailers to turning 65 prospects?

Source: Kramer Direct Research and Analysis Study

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Medicare Select is one of the best kept secrets of today’s top producing agents. Medicare Select offers all of the great benefits of a traditional Medicare Supplement but costs approximately 15% - 20% less. Your clients are able to visit their doctor of choice, without the need for approval or pre-certification. If hospital care is needed, your clients may visit any of the hospitals that are affiliated with their Medicare Select Insurance policy, anywhere in the country*.

Medicare Select is an ideal option for seniors living on a budget, as the yearly savings could go a long way toward cost of living expenses. For example, a 75 year old woman in Florida would spend $2,152.35 on her Medicare Select plan instead of $2,457.22 with a Plan F Medicare Supplement, a $304.87 a year savings. Many of your clients already use a hospital affiliated with the Medicare Select network, this is the perfect opportunity to help reduce their healthcare premiums!

For more information on participating hospitals and Medicare Select sales opportunities, please go here Medicare Select Information Request or call a marketing representative at 1-800-998-7715.

* This insurance plan utilizes a network of participating hospitals. In the absence of emergency confinement, you must use one of the network hospitals.

Please give us your feedback!
Do you sell Medicare SELECT? How do you incorporate it into your sales presentation? Are you clients receptive to the SELECT product?

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Cold calling is an aspect of sales that can make even the most seasoned sales professionals nervous. In reality, cold calling doesn’t have to be such an ordeal. The following are a couple of techniques to help you turn leads into prospects.

• Captured their attention in the first 15 seconds. This is the most important part of the call; it sets the tone for the rest of your relationship with the prospect. Be excited about your product and be sure your energy and enthusiasm comes across in your voice.
  
  
• Use their language & name. If you find your prospect using particular phrases often, write them down and use them in your pitch as well. Try to match their volume, speed, and tone of voice as well. Plus people in general, love the sound of their name so use it often throughout your call.
  
  
• Sell the appointment. If you are prospecting over the phone in your area, work on selling an appointment rather than the product. Some seniors are more comfortable meeting with an agent in person and you will be able to go over all of their options and educate them on the best option for their individual needs in person.
  
  
• Avoid taking "no" for an answer. Instinctively, people react with “not interested” to most sales calls. Avoid this by asking open ended questions like “What has been your biggest struggle looking for the right Medicare Supplement?” or “What kind of coverage do you think you need?” These questions will start the conversation and show the prospect you are taking an interest in their healthcare needs.
  
  
• Use emotion & show the value. Storytelling and success stories are two very good tactics to use with cold calling. Whether you choose a story that shows how grateful someone was to have a Med Supp or a cautionary tale about someone who wished they had, people respond to the feeling they are missing out on something other people have taken advantage of.
  
  
• End the call assertively. It’s unlikely that the prospect will ask you to set up an appointment or send them materials, so it is up to you to ask them. End each call by asking “Are you available to meet next Wednesday at 3PM?” or “To what address should I send more comprehensive information?” When you assume the close, it is harder for the prospect to say no and keeps the door open for business in the future.

Cold calling is nerve-racking but once you get in the grove it’s an instrumental way to increase your prospects and eventually your client database. The more calls you make, the more you will be able to iron out your script and pin point the most effective ways to talk with your senior market audience.

Please give us your feedback!
Have you had success cold calling? Do you have any tips? What did you do to get past the nervousness that cold calling can often bring up?

Source: About.com

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As blocks of business mature they tend to take lower rate adjustments than carriers who have recently entered the marketplace. Because of this, established carriers frequently resurface with a very competitive rate! Learn more >>


Additionally, many carriers have started pricing their products to attract clients between the ages of 66 - 70 years old. This helps improve risk evaluation and allows for better loss ratio management. Learn more >>

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