With the approximate cost of around $300 to $600 per 1,000 mailed pieces of direct mail final expense leads, it is not easy for broker or an agent to turn leads into sales. This is because for past many years, insurance agents have mailed these leads to the individuals who belong to low income category with the hope to get a large number of leads in returned. The fact is that individuals who get those mailers are receiving the same kinds of mailers on weekly basis. Thus, the response rate for these kinds of mailers is hardly 1% on an average.
Cross selling of Final Expense Leads and Medicare Supplements is possible. In case your focus is Final Expense Insurance, you must start with Final Expense and then proceed to a possible Medicare cross-sell. On the other hand, in case you are focusing on Medicare Supplements than you must start with heath coverage of the lead and then offer them an opportunity to either buy final expense insurance or combine the FE with Medicare. Whatever way you wanted to adapt, both can help you in getting final expense leads in your bag.
Mostly, you deal with individuals with two different income slabs. The one who buys Final expense usually cannot afford Medicare Supplement policies and therefore, go ahead with Medicare benefits. So, as an insurance agent, it is your duty to have a better understanding of Medicare Advantage so that when your customer turn up to you and seek for the advise and better future plans, then you are all set to convert your potential clients into prospective buyers. It is often found that most of the people are not familiar with Medicare options available for them and are generally confused. You can probably inform them and share all sort of information they are in search off and explain them about all the money saving policies available for them.
To help in having a better understanding about the topic, here are a few advantages of cross-selling Final Expense and Medicare.
It is a truth that you are communicating with the individuals who are keen to listen and know more about insurance options available at the moment for them.
Remember, you are selling the insurance policy to individuals who are in the same demographic for both kinds of insurance.
3. Checking In:
You are required to check back with your clients to whom you have sold Medicare insurance and ask few related questions like “How’s the insurance benefit going”, “Any concern related to the policy purchased”, “Any query or question related to the policy” and other as important questions.
4. No Right Time Like The Present:
There is no best time than present. So, ask your clients to get the Medicare at the earliest in order to be medically assured and protected.
So, prepare yourself in advance and start working on your sales and Final Expense insurance leads. Take all the required initiatives to get the potential buyers.
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