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Medicare Blog | Medicare News | Medicare Information

AIG: New 9-Month Commission Advance Reminder

Posted by www.psmbrokerage.com Admin on Thu, Apr 28, 2022 @ 09:21 AM

Effective April 11: 9-month commission advances will be available when you sell SimpliNow Legacy  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌
 
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Tags: aig

2022 Medicare Supplement Buyer's Guide Now Available

Posted by www.psmbrokerage.com Admin on Wed, Apr 27, 2022 @ 03:53 PM

Tags: Medicare Supplement, Guide

Prosperity Life: Time to stack up the sales! Agent incentive starting in May

Posted by www.psmbrokerage.com Admin on Wed, Apr 27, 2022 @ 03:14 PM

Tags: Medicare Supplement, Prosperity Life

Senior Market Insurance Guides

Posted by www.psmbrokerage.com Admin on Wed, Apr 27, 2022 @ 01:45 PM

Tags: Guide

Selling Medigap: New Agent Guide to Medicare Supplement Insurance

Posted by www.psmbrokerage.com Admin on Wed, Apr 27, 2022 @ 11:11 AM

Tags: Medicare Supplement, Guide

Cross Marketing in the Senior Insurance Market

Posted by www.psmbrokerage.com Admin on Fri, Apr 22, 2022 @ 09:34 AM

Cross Marketing Insurance

 

Cross Marketing Senior Insurance

 

I was talking to an agent recently and he asked me how he could increase his revenue, aside from just selling more Medicare supplement policies. Before I could even answer, he immediately followed up with another question:

“Oh yeah, and how do I increase my customer retention?”

Well, the good news is, the answer for both of those questions is actually the same answer. – Cross Marketing. Cross marketing is obviously going to increase your revenue, we know that. It increases product sales, which equates to more commissions, and equals more revenue.

But, that’s not all cross marketing will do.

It will also increase your customer retention, which also means more revenue. You have more customers on the books, you’ll make more money, and studies show that if your customer has at least three or more products with you as their agent, they are exponentially more loyal to you.

They're not going to let some other agent come in their house mess up all the work you've done. They trust you, obviously, or they wouldn’t have done business with you three times in the first place.

So yes, cross marketing means more revenue, more retention, and ultimately more growth so let's talk about the what, the when, and the how of cross marketing.

  

 

What to Cross Market

What we cross market is often dictated by what our lead product is. For example, if we're leading with Medicare supplement or Medigap policies, generally, Dental Vision Hearing, Prescription Drug Plans, and maybe a life product like final expense, or even annuities are usually our biggest cross-market opportunities.

If it's not a Med Supp, maybe it's a Medicare Advantage plan, then it's more likely to be Hospital Indemnity, Home Healthcare, and Critical Illness type products.

So, that's what we're going to cross market, but when are we going to sell it?

 

When to Cross Market

When we cross market usually depends on where the client is in the customer journey. I’m usually of the opinion that the best time to do it is when you already have them on the phone.

If that’s not an option, then you can certainly do it post sale as well.

If we're cross-marketing post-sale we're going to rely on technology that will mine our database of customers in our book of business so that it can identify the best cross marketing opportunities, and then we can develop a campaign.

 

How to Cross Market

Finally, how we cross market. Well, that is dictated by when we cross market. So, if we're cross marketing at point of sale then we're going to have to develop proper scripting and help properly train our agents so they can better present a package of products in a single presentation.

In this scenario, we're not presenting the individual products that we're trying to add on, we're presenting a package of risks and benefits. Through the discovery process we'll learn to package in the products that resolve those risks to the client's satisfaction.

Again, if we're cross-marketing post-sale, we're going to rely on technology to help identify cross marketing opportunities, and then we can develop the campaign.

Maybe an automated campaign, for example, through email or text, or direct mail, that will help generate inbound leads from our own book of business.

Alternatively, you can always just pick up the phone call your client to check up on them, and bring up some of the added value that you can bring to them by helping resolve or tighten up more of the risk that they might still be exposed to.

Ultimately, cross marketing will help you increase your revenue and your retention, and I think the key is to not over think it.

If you're a newer agent and you really haven't figured out how to cross market, start with one product and then add that into your presentation point of sale, or post sale, you pick.

For example, if your most of your book is Medicare Advantage business, I would pick one lump sum cancer product and start adding that into my pitch, and start talking to people about it. The more you discuss it, the more likely you are to sell one, right?

It doesn’t have to be complicated. Talk to people about the product, you will sell it, and then you'll get a taste for cross marketing and get more comfortable with it.

The next thing you know you're adding more and more products, and your clients are reducing their risk at the same time.

So take advantage of the win/win aspect of cross marketing.

 

A Cross Marketing Success Story

I'll give you one great example. An agent friend of mine recently added one product to his portfolio. He was selling Medicare supplements and wasn’t putting any effort into cross selling at the time.

He took my advice and simply added dental and vision to his sales pitch.

The rest of that year he increased his commissions by 37 percent!

It’s not rocket science, you just have to add a useful product and talk about it. You will sell it to a percentage of your clients.

If you're struggling with cross marketing, give us a call here at PSM. Talk to one of our experienced marketing staff. we can help you not only figure out what products you should be cross marketing, but how to bundle them, how to package them into a proper presentation, and how to market post sale.

We can definitely give you some ideas that you can implement and get started right away. So, feel free to give us a call.

We would love to hear from you and about your business, maybe some of the challenges you might be facing, and that way we can dig in and help you resolve them.


Looking for more helpful resources? Visit our Guides Page.

We appreciate you taking your time to check this out, and we wish you the best of luck.

 

Tags: cross marketing, cross selling

Get ready: New Cigna Med Supp product and 20% discount in TX!

Posted by www.psmbrokerage.com Admin on Wed, Apr 20, 2022 @ 04:23 PM

Tags: Cigna Medicare Supplement, Texas

Video | Instant Issue Hospital Indemnity Plans on GTL's Agent Portal

Posted by www.psmbrokerage.com Admin on Wed, Apr 20, 2022 @ 02:33 PM

 

Less time waiting.

More time selling.

 

Watch our short video and see how easy it is to submit Advantage Plus and Advantage Plus Elite applications and instantly issue policies on the Agent Portal.

Watch Video
Visit Agent Portal

 
 

Contact PSM today with any questions or to get supplies by calling 800-998-7715 or by emailing info@psmbrokerage.com 

 
 

Not appointed with GTL? Request details here

FOR AGENT USE ONLY - Cannot be distributed to the public or used in any consumer solicitation. 
 

Tags: Hospital Indemnity, GTL

Product Spotlight: Great Western Final Expense Plans

Posted by www.psmbrokerage.com Admin on Mon, Apr 18, 2022 @ 02:46 PM

Tags: Great Western

Cigna Med Supp products in new states with a 20% discount

Posted by www.psmbrokerage.com Admin on Mon, Apr 18, 2022 @ 02:02 PM

 
Cigna Health Insurance

Cigna Supplemental Benefits

Cigna Health and Life Insurance Company

Cigna National Health Insurance Company

MAKE LIFE MORE REWARDING

Med Supp products now available in new states

Medicare Supplement with more rewards

They're here! Our Medicare Supplement products are now available for sale in new states. Cigna Health and Life Insurance Company (CHLIC) is available in DE, ME, & WY and Cigna National Health Insurance Company (CNHIC) is available in KY & OK.

Multi-policy discount for your customers

A reminder that we have increased our multi-policy discount in select states. Customers in households where more than one person enrolls or is enrolled in an individual Medicare Supplement policy provided by Cigna can earn a multi-policy discount of 20% in DE, KY, OK & WY. 

Rewards for you:

  • NEW! Earn $200 for every application you write for underwritten Medicare Supplement Plans F, G, N, and Open Enrollment Plan N from April 18 to May 31, with a minimum of four applications for DE, KY, OK & WY.1 Start selling today!
  • After May 31, 2022, earn $1002 for every application you write for underwritten Medicare Supplement Plans F, G, N, and Open Enrollment Plan N with a minimum of four applications for DE, KY & OK

ARLIC, CHLIC, and Loyal

Don't forget that, effective May 6, our Medicare Supplement products, insured by American Retirement Life Insurance Company (ARLIC), will no longer be available for sale under your distribution in DE, KY & WY. 

Cigna Health and Life Insurance Company (CHLIC) Medicare Supplement products will also no longer be available for sale under your distribution in KY & OK.

Loyal American Life Insurance Company (Loyal), Medicare Supplement products will no longer be available for sale under your distribution in ME. 

All applications for ARLIC, CHLIC, and Loyal Medicare Supplement products in DE, KY, ME, OK & WY must be signed by May 5 and must be in our office by May 20.


Together All The Way

Tags: Cigna Medicare Supplement

MEDICARECON 2022 - Birmingham Alabama

Posted by www.psmbrokerage.com Admin on Thu, Apr 14, 2022 @ 02:16 PM


MEDICARE CON 2022


Experience
MedicareCon in person or virtual for a networking event like no other. Take your business relationships to a new level by networking with industry moguls that are disrupting the Medicare Insurance market.

Join industry experts to learn how they scaled their agencies.

https://medicarecon.com/ 

NETWORKING

We’ve all heard the term, “It’s not what you know, it’s who you know?”

One of the greatest things about the MedicareCon is the attendees themselves. Friendships, partnerships, and mentorships have all happened from agents just like yourself who happened to bump into the right person in the audience.

By connecting with the person to your left or your right (or both) at the conference, you can hold each other accountable to your new goals, challenge yourselves to do more every day, and help each other to keep a growth mindset.

It’s important to keep successful people around you if you want to achieve your goals and the people who attend MedicareCon are the ones who are committed to doing something big with their lives.

  rb_rossbridge15c

 

JOIN US!

Join us for a one-of-a-kind learning and networking insurance experience.

April 21-23, 2022

 

 

Join us and experience the allure of Renaissance Birmingham Ross Bridge Golf Resort & Spa. With a scenic location, you’re never far from things to see and do.

We provided the link to the website below if you want to learn more or register.

https://medicarecon.com/

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Tags: Networking Sites

Happy Easter from PSM

Posted by www.psmbrokerage.com Admin on Wed, Apr 13, 2022 @ 08:47 AM

AIG: New Social Security payment processing!

Posted by www.psmbrokerage.com Admin on Tue, Apr 12, 2022 @ 01:23 PM

Tags: aig

Mutual of Omaha: New Rates Filed in TEXAS!

Posted by www.psmbrokerage.com Admin on Tue, Apr 12, 2022 @ 01:07 PM

Tags: Mutual of Omaha Medicare Supplement

CMS finalizes 8.5% rate hike for Medicare Advantage, Part D plans in 2023

Posted by www.psmbrokerage.com Admin on Thu, Apr 07, 2022 @ 02:26 PM

Tags: Medicare Advantage News

AIG: Fast Start Bonus Program

Posted by www.psmbrokerage.com Admin on Thu, Apr 07, 2022 @ 11:09 AM

Tags: aig

Mutual of Omaha: New Medicare Supplement Plans in Iowa, Wisconsin, and West Virginia

Posted by www.psmbrokerage.com Admin on Thu, Apr 07, 2022 @ 10:03 AM

 

 

Tags: Mutual of Omaha Medicare Supplement

Aetna: Now through June 30: You can earn $100 per qualifying Med Supp app

Posted by www.psmbrokerage.com Admin on Tue, Apr 05, 2022 @ 02:08 PM

Tags: Aetna Medicare Supplement, Aetna Supplemental

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