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 Posted: Tue Dec 11, 2007 1:21 am Post subject: Selling Health Ins., does it involve a lot of paper work? |
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Hello Everyone,
Selling Health Insurance, does it involve a lot of paper work?
Is it a good idea to start selling Health Ins. and build a data base of client first and then go to Life ins?
Financial institutes some disagree with that.
Lets see if We can talk about this.
Thanks
May |
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atlantamonart
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Joined: 26 Nov 2007
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| Posted: Tue Dec 11, 2007 5:26 am Post subject: It has some things tbat need to get legally documented. |
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Well my friend, I believe insurance being a legal assurance to protect someone from an unknown damage should be followed up with legal procedures & hence ought to be associated with some legal documentation as well. This is more important when we segregate the different parts of a policy & explain it to the applicant as also the pricing & the payment modes in connection to such an application.
Regards, Fatman |
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fatman
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| Posted: Tue Dec 11, 2007 7:14 am Post subject: |
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Hi there!
In my opinion Life insurance is a big thing now. I've seen insurers formulating & desigining new life insurance programs as per the changing time. Some are pretty cost effective & short span while others would cater to a fully different requirement of the prospect. For some of the giant policies the tenure or the returns are proving to be less interesting to the current generation & as a result the market has somewhat gone sour with such products- making innovations imminent owing to the need of the market.
On the other hand I see health insurance carriers have quite a larger scope. I'd personally feel if you understand the potentiality of the dynamic market, study the trends carefully & then offer well-designed products then you're bound to win the battle with the worst.
Yeah, you're quite write at saying that once you have established a basic platform through selling a particular branch of insurance, then you may earn some extra flexibility at the market to approach it with other products. This would be the same advice for all quality product sellers.
Regards,
Monroemillynbeau
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Monroemillynbeau
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| Posted: Tue Dec 11, 2007 7:26 am Post subject: |
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Hi atlantamonart,
| Quote: | | Is it a good idea to start selling Health Ins. and build a data base of client first and then go to Life ins? |
The formation of this database that you're talking about would depend a lot on which economic segment you would be targeting initially! That in turn would help you to understand how much & till how long you would be able to rely upon this database. Thats what I personally feel out of my experience with insurance prospects.
BingoTommy
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BingoTommy
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| Posted: Tue Dec 11, 2007 12:49 pm Post subject: |
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Hello there,
| Quote: | | Selling Health Insurance, does it involve a lot of paper work? |
Are you speaking of the paperwork for signing on as a broker or the paperwork for signing people up for health insurance?? If its concerning signing on as a broker, yes you have applications and forms that must be completed. As far as signing up new business, it depend on how you are selling. Most modern health agents are running their business off the internet and they are not engaged in any paperwork.
| Quote: | | Is it a good idea to start selling Health Ins. and build a data base of client first and then go to Life ins? |
Well thats up to you. It depends on your goals. Some people do both. Some people sell health and never sell life, and vice versa. I always say, sell what you believe in. If you have a personal conviction about life insurance, or you have a burning testimony as to why people should buy it, then share that knowledge and get paid for it. Dont worry about the experts. They get paid for being experts. You have to find your own niche according to your own abilities.
Best of luck to you |
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knig188
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Joined: 04 Nov 2007
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| Posted: Tue Dec 11, 2007 1:10 pm Post subject: Selling Health Ins., does it involve a lot of paper work? |
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Hi atlantamonart,
If my memory serves me correctly, you have been posting for some time and have posed some very interesting questions, but I am curious, have you associated with any insurance company and have you sold your first insurance policy yet?
One bad thing about insurance is the number of insurance companies out there and the number of different insurance policies available.
If we spend all of our time researching, then we actually end up with no time to do the job - actually selling an insurance policy.
| Quote: | | Selling Health Insurance, does it involve a lot of paper work? |
Taking an application for health insurance normally involves completing a three or four page application. The most difficult part of this is to get the applicant to document his/her health history. The more complete the information, the faster the underwriting process. I actually think there is less paperwork in health insurance that there is in life insurance (for the agent).
| Quote: | | Is it a good idea to start selling Health Ins. and build a data base of client first and then go to Life ins? |
knig188 gave you some very good advice. Where do you want to spend the majority of your time? Do you want to help people protect themselves from illness and injury or do you want to help people provide a standard of living for themselves and their families? To me, health and life insurance go hand-in-hand. Not all of us will suffer a catastrophic illness, but all of us will die.
The big difference here is that most people will search for health insurance, but few will actually call an agent for a life insurance quote.
Some perfectly healthy people will pay $500 per month for a health policy, but will not pay $75 per month for a sound life insurance program. Why? Because they really don't understand either program.
The one thing you want to be absolutely sure of is that you know your products, inside and out. Know what the policy will pay and what it won't pay. |
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InsuranceMaze
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| Posted: Tue Dec 11, 2007 11:25 pm Post subject: |
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thank you everybody. I am gathering facts about what should I do. And I must say you are all helping. Okay selling health insurance looks like a good idea. It does bring a peace of mind for everybody. Without it you kind of feel lost.
Okay any suggestion where to start? There are so many companies out there. Which ones are good, meaning good coverage and affordable?
There was a question regarding my association with any company, I am kind of working with John Hancock. I have not sold any policy yet.
Thank You
May
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May
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