Did you know that during a Medicare Advantage client meeting you are actually setting up a perfect cross-sell opportunity for hospital indemnity products? Here is a quick and easy way to maximize your production while providing top-of-the-line protection to your clients.
As you complete the required reading of the summary of benefits for the particular MA plan you are offering your client, you are identifying what their maximum out-of-pocket expenses will be for things like hospitalizations and outpatient procedures. Now is the time to talk to your client about using hospital indemnity insurance to fill those coverage gaps. This allows you to specifically identify what is not covered by the first plan, and how the second plan can fit those needs. You’re helping your clients minimize their out-of-pocket expenses by overlapping their protection. Remember: since MA-PD is involved, you’ll need a prior scope of appointment form completed before introducing hospital indemnity.
Now let’s take this idea a step further. Review your existing clients’ MA plans. Since you already have a selling relationship with them, cross-selling by helping them fix their coverage gaps will be much easier.
By doing your homework and knowing where the gaps are in the MA plans and how the hospital indemnity product fits right into those gaps, you’re sure to experience one of the higher closing rate sales presentations out there.
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