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8 Tips for Selling Medicare Insurance

By Matthew King

Written On May 19, 2022

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16% of the population is age 65 or older in the US. 54.1 million Americans are eligible for Medicare insurance. 

If you're selling Medicare insurance, that leaves you with an enormous pool of potential customers to get on Medicare plans you have available. 

Selling Medicare supplemental insurance is important work because of the many benefits it provides to seniors. The real question is how to tap into this large population of people. How do you reach them so they can see your product? 

You just need to connect with them and help them to understand Medicare's importance. Read on for these tips for connecting with the right demographic and selling Medicare insurance.

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1. Diversify Your Product Portfolio

While there might be a large population of seniors to sell to, they might all need Medicare; they are still a diverse group with varying needs and budgets. 

To be a successful insurance agent, it's your job to meet your clients' needs. There are many different Medicare supplemental plans on the market. It would be nice to have a wide range of them to meet the needs of all of your clients. 

Build a product portfolio so you can address the wide range of needs and budgets that your clients have. 

2. Get Help With Insurance Marketing

If you're just starting in the business, you certainly have ambition and drive. You have the desire to be successful. You may lack the tools, support, and experience needed to connect with customers. 

Don't despair. Use an insurance marketing agency to help you get your feet off the ground. Part of it will come with experience, and part you can get from seeking some help. 

This kind of assistance helps you connect with customers and build the customer base that you need to succeed in the business.

3. Keep Certifications Up to Date

The government requires you to have AHIP and carrier certifications to sell certain Medicare plans. They also require these to be renewed and recertified each year. 

While it might feel mundane and pesky, you want to get this done as quickly as possible when the certifications are available. 

You're not allowed to sell new Medicare Advantage health plans until those certifications are up-to-date each year. 

If you wait, the new product could come out, and you won't be allowed to sell it because you haven't updated your AHIP and carrier certifications. This means potential customers are going to other agents who are already ahead of you.

4. Up to Date Forms and Information

If you know anything about selling insurance, the cost and coverage in plans can change regularly. You need to be certain to keep all of your rate forms and plan information up-to-date and accurate. 

The worst thing could be you sitting in front of a potential customer and not being able to give them accurate rates or information. 

If they leave you with the idea that you'll get back to them, you may lose the lead and the chance to land them as a customer. 

5. Take Advantage of Technology

While some of your customers might not be as tech-savvy as you,  you need to take advantage of the technology available to you to make the selling process more seamless. 

First, take advantage of electronic applications. Most systems won't allow you to submit an application unless done thoroughly, so there's less room for error. 

When you use paper applications, you can easily miss spots and slow down the process. 

For your clients who use technology, you want to connect with them. Use email newsletters and social media to stay connected with your customer base and market yourself to new customers simultaneously.

6. Offer Free Help Events

There's nothing quite as effective as the opportunity to get in front of a potential customer face-to-face. And let's face it, Medicare can be confusing and overwhelming for many seniors to navigate. 

One smart marketing tool is to offer free help events for seniors. You could do this through a local church, organization, or community center. 

Greet your potential customers. Get some information in their hands. Gather contact information that will allow you to follow up and work the sale after the event. You could also sign up for a booth at local events like festivals, art shows, or community gatherings. 

This is also a great way to build an email database. 

7. Get Professional Sales Training

In addition to keeping yourself certified with AHIP and carrier certifications, it makes sense to take some quality sales training to build up your skills. 

There is an art to good sales, and you want to learn it to be successful in the field. If you're new to the field or feeling a little stale, take the initiative to sign up for some sales training classes.


 

Pro Tip: Also, don't forget that most states require licensing of some kind. Be sure yours is up-to-date, and you have done what's required.

8. Sell to Existing Customer Base

If you've been in the field of insurance for a while and are now adding selling Medicare insurance to your portfolio, don't overlook your existing database of clients. 

Even if your customers aren't of Medicare age, they might have parents, co-workers, or neighbors who are the right age. Tap into that source of potential clients. 

Also, don't be afraid to ask your customers for referrals. You might even offer some incentive to your existing customers who can provide you with additional names. 

Use These Tips for Selling Medicare Insurance

With a large potential client base, selling Medicare insurance shouldn't be difficult. The key is finding ways to understand your client's needs and connect with them.  

Learn more about TR King Insurance Marketing training and how we can help you build your Medicare insurance business. Apply here today to get more information.

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Matthew King


Matthew King is a co-owner of TR King Insurance Marketing. When he's not creating processes, content, developing training, and implementing digital marketing strategies, he likes to immerse in gaming with his wife and friends.

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