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Product Spotlight: American Home Life Medicare Supplement and Patriot Series Final Expense

Posted by www.psmbrokerage.com Admin on Wed, May 29, 2024 @ 08:57 AM

Two products. One great solution. ZERO complexity.


The American Home Life Medicare Supplement and Patriot Series Final Expense products are designed to meet the needs of seniors who want the freedom provided by traditional Medicare and the peace of mind knowing their loved ones will not have to bear the burden of funeral costs.

Together is always better. With the bundled solution from American Home Life (AHL), producers and customers alike can enjoy a product with more benefits and less complexity to holistically address the needs of clients — the way insurance was meant to be.

Key benefits include a best-in-class eApp process, quick shopping cart-type sales, no phone interview required, premium discounts, SSI billing options, and attractive agent bonuses.

With more tools for agents, and benefits for customers, this offer is almost two good two be true.

Quick to Close, On to the Next

Is the client already qualified for the Med Supp plan? With only two more questions and no additional phone interview, they’re already accepted — guaranteed! — for their discounted final expense policy.

Super Preferred Final Expense

Who doesn’t love a 20% savings!! This rate, when combined with a Med Sup, is the #1 rate for a Final Expense plan and will save your clients year after year!! Your business will never be replaced because the rate was too high.

Making it easy to do business

The Agent Services team is focused on your needs as a new or experienced agent/agency. We want to help you grow your business. With quick access to rate quotes, sales materials, product training, and more.


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Tags: Final Expense, Medicare Supplement, cross selling, American Home Life

Strategic Approaches: Marketing Dental Insurance for Optimal Sales

Posted by www.psmbrokerage.com Admin on Tue, May 28, 2024 @ 01:24 PM

Explore effective marketing strategies to boost dental insurance sales and maximize opportunities.

Marketing Dental Insurance

Understanding the Dental Insurance Market

To effectively sell dental insurance, it is crucial to have a deep understanding of the dental insurance market. This involves researching and analyzing the current trends, demands, and competition in the industry. By understanding the market, agents can identify potential opportunities and develop strategies to capitalize on them. They can also gain insights into the needs and preferences of potential customers, allowing them to tailor their sales approach accordingly.

Related: https://www.precedenceresearch.com/dental-insurance-market 

Agents should familiarize themselves with the various types of dental insurance plans available, such as individual plans, family plans, and group plans. They should also stay updated on the latest dental procedures and treatments covered by insurance to effectively communicate the benefits to customers. Additionally, understanding the regulatory landscape surrounding dental insurance is essential to ensure compliance and provide accurate information to customers.

Related: https://www.ada.org/en/resources/practice/dental-insurance/dental-plan-overview 

Targeting the Right Audience

Identifying and targeting the right audience is key to successful dental insurance sales. Agents should conduct market research to determine the demographics and characteristics of potential customers who are most likely to purchase dental insurance. This includes factors such as age, income level, occupation, and location.

Related: https://www.ada.org/en/resources/research/health-policy-institute/dental-care-market 

Once the target audience is identified, agents can tailor their marketing messages and strategies to resonate with this specific group. They can create personalized campaigns that highlight the benefits of dental insurance based on the needs and interests of the target audience. For example, if targeting young professionals, agents can emphasize the importance of preventive dental care and the potential cost savings in the long run.

Utilizing Digital Marketing Channels

In today's digital age, utilizing digital marketing channels is essential for effective dental insurance sales. Agents should leverage online platforms such as social media, search engines, and email marketing to reach a wider audience and generate leads.

Social media platforms like Facebook, Instagram, and LinkedIn provide opportunities to engage with potential customers, share informative content, and build brand awareness. Agents can create targeted ads and sponsored posts to reach users who match their target audience demographics.

Resource: https://www.psmbrokerage.com/social-media-strategy-for-insurance-agents 

Search engine optimization (SEO) techniques can help agents improve their online visibility and attract organic traffic to their websites. By optimizing their website content with relevant keywords and providing valuable information, agents can rank higher in search engine results pages and attract potential customers.

Email marketing is another effective digital marketing strategy for dental insurance sales. Agents can build an email list of interested prospects and send regular newsletters or promotional offers to nurture leads and encourage conversions.

Building Trust with Customers

Building trust with customers is crucial in the dental insurance sales process. Agents should focus on establishing themselves as knowledgeable and reliable professionals who have their customers' best interests at heart.

One way to build trust is by providing transparent and accurate information about the dental insurance plans and coverage options. Agents should be able to answer any questions or concerns that potential customers may have and provide clear explanations of terms and conditions.

Testimonials and case studies from satisfied customers can also help build trust. Agents can share success stories and positive experiences to demonstrate the value and benefits of dental insurance. Additionally, offering a satisfaction guarantee or a money-back policy can further instill confidence in customers.

Maintaining open and honest communication throughout the sales process is essential. Agents should be responsive to customer inquiries and provide timely updates on policy information or claim procedures. By delivering excellent customer service, agents can build long-term relationships with customers and earn their trust and loyalty.

Leveraging Referral Programs

Referral programs can be a powerful tool for dental insurance sales. Agents can encourage satisfied customers to refer their friends, family, and colleagues to their services, offering incentives or rewards for successful referrals.

By leveraging referral programs, agents can tap into their existing customer base and expand their network through word-of-mouth marketing. People are more likely to trust recommendations from someone they know, making referrals an effective way to generate qualified leads.

To maximize the success of referral programs, agents should make it easy for customers to refer others. This can be done through personalized referral links, social media sharing buttons, or referral cards that customers can hand out to their contacts. Agents should also track and acknowledge successful referrals, rewarding both the referrer and the new customer to incentivize further referrals.

By implementing these strategic approaches and utilizing effective marketing strategies, agents can increase dental insurance sales, reach a wider audience, and maximize profits.

At PSM, our portfolio is quality-focused to ensure our agents are only offering the best products to their clients. If you would like to receive more information on the products we have available, please visit our Dental product page to request product info and contracting.

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Tags: cross marketing, cross selling, dental plans

12 Innovative Strategies for Agents to Expand and Elevate Their Medicare Business

Posted by www.psmbrokerage.com Admin on Wed, May 01, 2024 @ 08:35 AM


Growing and scaling a business as a Medicare agent requires creativity, especially in a competitive market. Here are several innovative and effective strategies to help expand your client base and increase revenue:

1. Educational Workshops and Seminars

Host free educational workshops and seminars on topics relevant to Medicare, such as changes in Medicare plans, benefits, or eligibility criteria. These sessions position you as an expert in the field and provide a platform to connect with potential clients. Download our guide on how to market in your local community.

2. Partnerships with Local Businesses and Community Centers

Forge partnerships with local businesses, community centers, and retirement homes to offer informational sessions or one-on-one consultations. This can broaden your reach and establish a trustworthy presence in the community.

3. Utilize Social Media Platforms

Create and maintain active social media profiles tailored to the senior demographic. Use these platforms to share useful content, answer FAQs, and broadcast live Q&A sessions. This not only educates but also engages potential clients. Learn more on how you can leverage social media as an insurance agent.

4. Content Marketing

Develop a content marketing strategy that includes blogging, newsletters, ebooks, and infographics. Focus on topics that are beneficial to your target audience, such as understanding Medicare options, managing healthcare costs in retirement, and the latest updates in Medicare policies. Check out the PSM Marketing Hub for marketing ideas.

5. Referral Programs

Implement a referral program that rewards existing clients for referring new customers. This could be in the form of discounts, gift cards, or special services. Word-of-mouth is a powerful tool in the senior market.

6. Customized Email Campaigns

Use email marketing to send personalized communications to your leads and clients. Segment your email list to ensure that the content is tailored to the recipients’ needs and interests, increasing engagement and conversion rates.

7. Expand Your Offerings

Consider obtaining certifications to sell additional products related to healthcare, such as long-term care insurance, dental and vision plans, or supplemental health insurance. This allows you to offer more comprehensive solutions to your clients’ needs.

8. Networking with Healthcare Providers

Network with doctors, nurses, and other healthcare providers who interact with seniors. They can refer patients who might need assistance with Medicare plans. Ensure you leave business cards and brochures that they can easily give to potential clients. Sample provider outreach letter available here.

9. Utilize Client Testimonials and Case Studies

Showcase testimonials and case studies on your website and in your promotional materials. Real-life success stories can significantly enhance credibility and reassure potential clients of your expertise and commitment.

10. Host Webinars

Offer regular webinars on important Medicare topics. This approach not only reaches those who are unable to attend in-person meetings but also allows you to engage with a broader audience from the comfort of their homes.

11. Collaborate with Financial Planners

Partner with financial planners who may have clients approaching the age of Medicare eligibility. This collaboration can be mutually beneficial, as you can refer clients to each other based on the needs of the seniors you serve.

12. Local Sponsorships and Advertising

Sponsor local events or advertise in community newsletters and on local radio stations. Choose venues and media that are popular with the senior demographic to ensure your message reaches the right audience.

By implementing these strategies, you can effectively grow and scale your Medicare agency, reaching more clients and providing valuable services that meet the complex needs of the senior market. Download Checklist.

We are always here to help

We provide robust leadership, advanced sales tools, effective sales strategies, dedicated training, outstanding mentorship, and beyond. From your first application to receiving your commissions, our consistent support guarantees you'll always feel connected and supported.

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Tags: Final Expense, Annuities, Hospital Indemnity, Medicare Advantage, Medicare Supplement, Referrals, cross marketing, cross selling, dental plans

Mastering Cross-Selling

Posted by www.psmbrokerage.com Admin on Mon, Apr 29, 2024 @ 12:47 PM


For insurance agents specializing in the senior market, cross-selling additional products to Medicare enrollees is a powerful strategy to enhance value for clients while boosting your business’s profitability. With the right approach, you can effectively address the comprehensive needs of seniors, who often require more than just health insurance to feel secure.

Here’s a look at how you can excel in cross-selling by expanding your portfolio beyond basic Medicare plans.

Understanding the Needs of Your Clients

Seniors have unique needs and concerns that extend beyond healthcare. Issues such as long-term care, dental health, vision, and even financial security are critical. By understanding these needs, you can tailor your cross-selling strategies to offer comprehensive solutions that resonate deeply with your clients.

Popular Cross-Sell Products to Consider:

  • Dental, Vision, and Hearing Plans: These are amongst the most sought-after benefits by seniors yet are not covered by Original Medicare. Offering standalone DVH plans that cover these services can significantly enhance your client's quality of life and can be a deciding factor for seniors choosing to work with you.

  • Hospital Indemnity Insurance: Offering hospital indemnity plans allows insurance professionals to meet the evolving needs of healthcare consumers, provide valuable supplemental coverage, and offer added financial protection in times of medical uncertainty.
  • Long-term Care Insurance: As seniors age, there’s an increasing likelihood of needing long-term care services, which are not covered by Medicare. Long-term care insurance can help cover the cost of care at a facility or at home, protecting your clients’ savings and providing peace of mind.

  • Final Expense Insurance: This insurance helps cover the costs associated with a funeral and burial, a concern for many seniors who wish to ensure their final expenses are not a burden to their families.

  • Annuities and Financial Planning Services: Many seniors are concerned about outliving their savings. Annuities provide a steady stream of income during retirement, while financial planning services can help seniors manage their resources more effectively.

Tips for Effective Cross-Selling

  • Educate Your Clients: Many seniors are not aware of their vulnerabilities and the full range of available insurance products that can address them. Educational meetings, workshops, and informative content can help them understand their options and the benefits of additional coverage.

  • Build Trust Through Transparency: Seniors are particularly sensitive to sales tactics that might come off as pushy or deceitful. Be transparent about costs, benefits, and whether a certain product truly fits their needs. This honesty builds trust and loyalty.

  • Bundle Products for Simplicity and Savings: Whenever possible, offer bundled products or services that provide cost savings and simplify the decision-making process for seniors. This can make additional coverages more attractive and easier to manage.

  • Utilize Technology Wisely: Use CRM systems to track client information, including existing policies and potential needs. Automated reminders and personalized messages can help keep you in touch with clients and provide them with timely, relevant information.

  • Follow-Up Regularly: Regular follow-ups keep you connected with clients, provide opportunities to reassess their current needs, and introduce new products that may be of interest as their circumstances change.

Cross-selling in the senior market offers a win-win opportunity: seniors receive a more holistic approach to their challenges, and agents enhance their service value and business growth. By understanding the broader needs of your Medicare clients and offering them relevant additional products, you position yourself as a trusted advisor dedicated to their overall well-being. Remember, the key to successful cross-selling is understanding client needs and providing real solutions that make a difference in their lives.

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Tags: Final Expense, Annuities, Hospital Indemnity, cross selling, dental plans

Cross Marketing in the Senior Insurance Market

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

Cross Marketing Senior Insurance-1

During a recent conversation with an agent, he inquired about boosting his revenue beyond just selling more Medicare supplement policies. Without hesitation, he posed another question: "How can I enhance customer retention?"

The good news is that the solution to both queries lies in the same strategy - Cross Marketing. Not only does cross marketing drive revenue by increasing product sales and commissions, but it also fosters customer loyalty. Research indicates that clients with three or more products from the same agent are significantly more loyal.

By engaging in cross marketing, not only will you see a rise in revenue but also in customer retention. Clients who have multiple products with you are less likely to switch to another agent, as they trust your expertise and value the relationship built over time.

In essence, cross marketing leads to increased revenue, retention, and overall business growth. Let's delve into the what, when, and how of cross marketing to maximize its potential.

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

Determining when to engage in cross marketing often hinges on the stage of the client's customer journey. Personally, I find that the opportune moment is while you have them on the phone.

If that's not feasible, post-sale cross-marketing is also a viable option. In this case, we can leverage technology to sift through our customer database and pinpoint the most promising cross marketing prospects. This enables us to craft targeted campaigns for maximum impact.

How to Cross Market

Approaching cross marketing requires impeccable timing. When focusing on cross marketing at the point of sale, it's crucial to craft effective scripts and offer thorough training to our agents. This equips them to present a well-rounded package of products that address both risks and benefits, tailored to meet each client's specific needs.

On the flip side, for post-sale cross marketing, technology plays a vital role. Utilizing automated campaigns through email, text, or direct mail can unearth valuable cross marketing opportunities within our existing customer base. Adding a personal touch, like reaching out to clients via phone calls, can also open up discussions about additional products that enhance their coverage and mitigate any remaining risks.

Ultimately, the aim of cross marketing is not only to boost revenue but also to enhance customer retention. Starting with a single product can serve as a manageable entry point for newer agents looking to dive into cross marketing. By gradually expanding the product portfolio and engaging in meaningful client conversations, you'll not only drive sales but also nurture relationships and deliver tailored coverage that meets their unique requirements.

Embracing the mutually beneficial nature of cross marketing can pave the way for substantial business growth.

A Cross Marketing Success Story

Let me share a fantastic success story with you. A close agent colleague of mine recently decided to expand his product offerings. While he was primarily focused on selling Medicare supplements and hadn't delved into cross-selling, he took my advice and introduced dental and vision coverage into his sales conversations.

The outcome? In just one year, his commissions soared by an impressive 37%!

It's not about reinventing the wheel; sometimes, all it takes is introducing a valuable product and discussing its benefits. A simple addition to your portfolio can resonate with a portion of your clients and lead to increased sales.

If you're navigating the world of cross-marketing and could use some guidance, don't hesitate to reach out to us at PSM. Our seasoned marketing team is here to assist you in identifying the right products for cross-marketing, creating compelling packages, and executing effective post-sale strategies.

We're eager to hear from you, learn more about your business, and address any challenges you may be encountering. Together, we can craft solutions that drive your success.

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.

“Cross-selling occurs when an opportunity to sell a Medicare plan is also utilized to sell a non-health related product (such as life or home insurance or financial planning services). This activity is prohibited by CMS during individual appointments, marketing/sales events or when providing Medicare plan enrollment materials to consumers. Review the current Medicare Advantage Marketing Regulations and make sure you’re complying with Medicare’s rules regarding cross-selling.”


Tags: cross marketing, cross selling

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