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Medicare Blog | Medicare News | Medicare Information

Expand Your Portfolio, Expand Your Business

Posted by Lauren Hidalgo on Fri, Aug 12, 2011 @ 09:20 AM

Medicare SupplementsNow is a great time to look to your portfolio and build a comprehensive product package to offer both your prospects and current clients. It is imperative in this market to remember to look at all areas of the market, instead of just the product you might know best. Prospecting for life insurance, long-term care, Medicare supplements, Part D, as well as annuities and other financial services is a guaranteed way to increase your production. Also, expanding your portfolio makes your business well-rounded and offers new ways for you to market to your clients.

Despite the challenges in the market today, it is important to see this time as an exciting opportunity for growth. Instead of only addressing a client’s immediate need for supplemental insurance, you can also help protect their assets and secure their financial future long-term with a more comprehensive portfolio. Remember to look for all opportunities with each prospect you contact. Suggest products you think would fit into their lifestyle, and thank them for their loyalty in allowing you to continue offering your products to them as their agent. Companies like Forethought and Sentinel Life offer a Combo App with both a Medicare supplement and final expense product on the same application. This makes it especially easy; by adding just one extra product to your portfolio you can double your commission with a client. Even if they are not interested in other policies at that time they may be in the future, or they might know someone who is and give you a referral. By covering all of your options with your clients you are not only targeting their needs, but building your brand, expanding your business, and gaining more expertise.

Offering other products may not be something you have ever thought you would need or want to do. We all need to be willing to grow and change however. Otherwise we might be swept aside by someone else who is not afraid to take the chance. As Michael Brown, in InsuranceNewsNet, says "Take a leap and learn something new; the success of your business depends on it."

If you are looking to expand your portfolio, PSM offers a full range of senior market products, from Medicare Supplements and long-term care insurance to annuities and final expense. Also, if you are currently in the underage market with aging clients, now is the perfect time to add Medicare supplements to your portfolio. Instead of referring them to a colleague you will be able to retain the loyal business relationship you have established, and continue to meet their needs as they grow older.

Please give us your feedback!
Have you recently expanded your portfolio? Have you seen an increase in production as a result? What tips to you have for those just starting to transition to new products?

Source: InsuranceNewsNet

Additional Updates:
  • Universal American Medicare Advantage 2012 Training - Learn More
  • Woodmen/Assured Life Redesigned Application - Learn More
  • Gerber Life Redesigned Application - Learn More
  • Assured Life Medicare Supplement Rate Increase for Pennsylvania - Learn More
  • Gerber Life Medicare Supplement Rate Increase for California - Learn More
  • Gerber Life Medicare Supplement Rate Increase for New Mexico - Learn More

Tags: Universal American Medicare Supplement, Sales Tips, Success Tips, Senior Market Advice, Assured Life Medicare Supplement, Referrals, Gerber Life Medicare Supplement, Medicare Advice

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