Why is Medicare Supplement Sales Such A Great Opportunity?

Since 2011, with the “Baby Boomer” generation entering retirement age, approximately 10,000 people have been turning 65 every day. This is projected to continue until the youngest Baby Boomers turn 65 in 2029.

Medicare is the health insurance that covers the vast majority of these people.  While it is an essential program, Medicare does not cover all medical costs for its beneficiaries. Seniors would prefer not to spend their retirement savings on these costs.    They would rather budget the amount they pay for medical expenses. a Medicare Supplement plan is the perfect remedy.

Additionally, there are a vast number of seniors covered under a Med Supp plan already who are simply paying too much for their plan.

As an agent who can provide this solution, you will be able to capitalize on one of the best opportunities in insurance sales.

In addition to 10,000 people turning 65 every day, there are millions more who have already reached that milestone.  As rates change or new carriers enter the market, people who already have a Med Supp will be searching for ways to save money on their premiums.  About 3 out of 4 seniors medically qualify for a new Medicare Supplement. Best of all, you don’t have to wait for an open enrollment period as you can write a new policy at any time of the year.

Medicare Supplement sales not only provide first year commissions, it is a reliable source of renewal income as well.  Carriers typically pay 6 years of level commission and some provide renewals in year 10 and beyond! Add the cash bonuses that many carriers pay for new business and that makes your income potential extraordinary!

Seniors are usually willing to discuss ways to save on medical costs. Once you have established yourself as a trusted advisor in this area, you will find your clients willing to discuss other insurance and financial needs.  Selling Medicare Supplements helps open the door to life, annuity, long-term care and supplemental sales.