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Discover an unparalleled array of valuable resources tailored exclusively for insurance agents

Posted by www.psmbrokerage.com Admin on Mon, Jul 31, 2023 @ 11:08 AM

Agent Guides

Discover an unparalleled array of valuable resources tailored exclusively for insurance agents serving the senior market. At PSM, we are dedicated to equipping agents with the knowledge and tools they need to excel in this specialized field. From comprehensive educational materials on Medicare to interactive training sessions on sales strategies and compliance, our goal to empower agents with the latest industry insights.

View our Agent Guides Page

Join our vibrant community and benefit from networking opportunities to foster professional growth. Experience the difference with PSM, where agents can elevate their expertise and better serve their senior clients.

Sample Guides:

Cross-Selling Hospital Indemnity Plans Guide   Scale your Medicare Business

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Tags: Final Expense, Medicare Advantage, Medicare Supplement, Professional Networking, Guide, Resources

Savvy Agents Can Expand Their Medicare Business Cross-Selling Ancillary Products

Posted by www.psmbrokerage.com Admin on Tue, Jul 18, 2023 @ 09:17 AM

Cross selling ancillary

Insurance agents can have successful careers building a significant client base by selling Medicare Advantage (MA) coverage to beneficiaries. Agents wanting to expand their business beyond MA coverage and move their earnings to new levels can do that holistically with ancillary products. Along with the potential for increased revenue, agents cross-selling ancillary products could help their clients save money on health care expenses while setting themselves apart from the competition.

One cross-selling technique is packaging MA and ancillary products as a bundled approach. This minimizes the likelihood of clients seeking alternative coverage options,
which increases their long-term commitment to their agents and their carriers. The key isn't only knowing all available products and coverage benefits, but how they compliment MA coverage to best meet your client’s needs.

It’s important to remember that cross selling occurs when an opportunity to sell a Medicare plan is also utilized to sell a non health related product (such as life or home insurance or financial planning services). This activity is prohibited during individual appointments, marketing/sales events or when providing Medicare plan enrollment materials (such as the “Enrollment Guide”) to consumers.

Let’s breakdown the three most popular ancillary products.

HOSPITAL INDEMNITY PLANS

Hospital Indemnity (HI) plans provide Medicare beneficiaries with financial protection for medical expenses associated with daily hospital confinement, ambulance rides, diagnostic tests, lab work and prescription medications.

Agents can share with clients that the plans are designed to supplement other health insurance policies and can cover deductibles, copayments and other out-of-pocket costs. HI policies don't have network restrictions, meaning policyholders can choose providers that are both in and out-of-network. Networks become very important, especially when a person wants treatment at the best facility available after a diagnosis of a critical or complex disease, such as cancer, renal failure or heart disease. An added benefit: many HI plans come with riders, such as coverage for cancer costs, emergency room visits and outpatient services.

FINAL EXPENSE PLANS

Final Expense (FE) policies provide clients with a sense of security for their loved ones and protect them from unforeseen costs associated with medical bills and funeral costs. With the right guidance and product knowledge, agents can provide their customers
with quality coverage at affordable rates. Clients would be interested in knowing that
FE qualification thresholds are usually much lower than for other life insurance policies
regarding a policyholder’s health.

Agents can also stress that FE products go beyond burial costs and can include leaving financial gifts for clients’ family members that can go to settling debts.

DENTAL, VISION AND HEARING (DVH) PLANS

Dental, Vision and Hearing (DVH) coverage can increase a client’s financial protection
beyond what is available through traditional MA plans. Agents can let clients know that as they age, they are at a higher risk of needing DVH-related care. DVH plans offer additional access to coverage for these unexpected costs not covered by some Medicare plans.

TAKING ADVANTAGE OF THE ANCILLARY MARKETPLACE

The ancillary marketplace lets agents leverage their already-existing client base and build longer-term relationships with them through cross-selling opportunities. Once agents are comfortable with selling MA products, they can take the following steps to move into the ancillary marketplace:

  • Learn about the available products and coverage benefits.
  • Do the homework and uncover how ancillary products can complement clients’ current coverage.
  • With recent changes in CMS guidelines, it’s important to understand their impact on cross-selling opportunities. Ensure you understand all government, state and local regulations.
  • Contact your clients and holistically market these plans. Agents who want to grow their business beyond Medicare products would be well advised to consider the holistic nature of ancillary products. These plans can diversify their product portfolios and maximize their earnings while providing their clients with added protections from unanticipated medical costs.

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“Cross-selling occurs when an opportunity to sell a Medicare plan is also utilized to sell a non-health related product (such as life or home insurance or financial planning services). This activity is prohibited by CMS during individual appointments, marketing/sales events or when providing Medicare plan enrollment materials to consumers. Review the current Medicare Advantage Marketing Regulations and make sure you’re complying with Medicare’s rules regarding cross-selling.”

*For Agent use only. Not affiliated with the U. S. government or federal Medicare program.

 

RESOURCES:

Selling Hospital Indemnity

Cross Marketing Senior Insurance

 

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Tags: Final Expense, Hospital Indemnity, Medicare Advantage, cross marketing, dental plans

AFLAC Medicare Supplement Q2 Bonus

Posted by www.psmbrokerage.com Admin on Thu, Jun 15, 2023 @ 03:03 PM

Tags: Final Expense, medicare supplement insurance, Bonus Program, Aflac

Corebridge SimpliNow Legacy® At-a-Glance

Posted by www.psmbrokerage.com Admin on Tue, Jun 06, 2023 @ 01:09 PM

Corebridge SIWL

Here are the top features of this Final Expense solution from Corebridge Financial.
With instant underwriting decisions, SimpliNow Legacy helps you convert as many leads as possible - because your time is money!

1. Compensation:
  • Recently increased commissions.
  • Earn $2500 extra by placing ten policies with the Final Expense Agent Bonus Program.
2. Process built with you in mind:
  • All offers are automated and instant – no human intervention or speaking with an underwriter.
  • When final offers of Graded death benefit or decline are made, we will provide reasons why.
  • No tele-interviews.
  • Corebridge doesn’t ask for payment or beneficiary information until AFTER the offer is made. And none of our payment types will reduce your commission.
3. Unique client benefits:
  • Limited pay feature allows for no more premium payments after a stated age (maximum payment age). This will vary but it’s a great selling point that premiums will not be needed every year.
  • SimpliNow Legacy has four payment types – Social Security debit card (Direct Express), credit cards, debit cards, or bank draft.
  • Three available riders – Accelerated Death Benefit for Terminal Illness and Nursing Home Confinement Riders included at no additional charge; and an Accidental Death Benefit Rider available for an additional cost.
4. Underwriting Niches:
  • Available for Level Death Benefit (policy pays the full amount in all years):
    • Stage 1 cancers diagnosed or treated in last 48 months.
    • Rheumatoid arthritis or psoriatic arthritis.
    • Some stable coronary conditions treated with stents or by-pass surgery.
    • Diabetes with stable A1C less than or equal to 8.6%.
  • No MIB, background check only for lack of candor: BE HONEST!
  • One of the only Final Expense products that can provide an offer for COPD -- with no hospitalization in last 2 years.
  • Note: Corebridge does not underwrite for neuropathy or diabetic neuropathy.
5. New name, same company:
  • Corebridge Financial: new name for AIG Life & Retirement with no changes to products, policies or contracts.

Download the Flyer


SimpliNow Legacy Max provides a 100% of face amount death benefit beginning on policy day one when inforce. SimpliNow Legacy provides a limited death benefit in the first two years of the policy. Should death occur in the first
two years, the death benefit will be equal to 110% of the premiums paid.

 

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Tags: Final Expense, aig, Corebridge

5 Reasons to Sell Final Expense Plans

Posted by www.psmbrokerage.com Admin on Thu, Jun 01, 2023 @ 09:13 AM

5 reasons to sell final expense life insurance

In today’s financial environment, it can be difficult to predict how much things will cost down the road, especially someone’s end-of-life expenses. Help your clients take the guesswork out with a final expense life insurance plan. With a final expense plan, your clients can find relief knowing that they will not leave their loved ones with a financial burden during an already difficult time.

There are several compelling reasons to consider selling final expense insurance:

  1. Targeted market: Final expense insurance caters to a specific market segment of individuals who may not qualify for or afford traditional life insurance policies. This niche market provides an opportunity to serve a unique clientele and address their specific needs.

  2. Fulfilling a critical need: Final expense insurance helps individuals and their families plan for the financial obligations associated with funerals, burials, and related expenses. By selling this type of insurance, you can assist clients in ensuring that their loved ones are not burdened with significant costs during a difficult time.

  3. Simplicity and accessibility: Final expense insurance policies are typically easier to understand and obtain compared to complex life insurance products. They often involve simplified underwriting processes, making them more accessible to a wider range of customers. This simplicity can be appealing to individuals who want straightforward coverage without extensive paperwork or medical examinations.

  4. Emotional support: Selling final expense insurance allows you to provide emotional support to clients and their families. By addressing end-of-life expenses, you help alleviate the stress and uncertainty associated with funeral planning. This support can foster trust and build long-term relationships with clients.

  5. Financial stability: Final expense insurance provides a predictable and stable income stream for insurance agents. As the need for final expense coverage persists, it can serve as a consistent revenue source. By building a client base and nurturing relationships, you can establish a reliable book of business over time.

It's important to approach the sale of final expense insurance ethically and responsibly, ensuring that you fully understand the product, its features, and the specific needs of your clients. Complying with industry regulations and providing transparent information to customers is crucial to building trust and maintaining professional integrity.

PSM would love to support your efforts and provide all the carriers, tools and resources you need to feel confident in presenting these plans to your clients. Below is a list of companies we proudly represent. Please click on the image for more information and to request additional details.

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Tags: Final Expense

Corebridge Final Expense Plans

Posted by www.psmbrokerage.com Admin on Wed, May 31, 2023 @ 09:40 AM

 

Tags: Final Expense, aig, Corebridge

Corebridge Final Expense Agent Bonus Program

Posted by www.psmbrokerage.com Admin on Wed, May 03, 2023 @ 10:16 AM

Corebridge bonus

Final Expense Agent Bonus Program - Get a maximum bonus of $2500 on your SimpliNow Legacy simplified issue whole life sales!

The Final Expense Agent Bonus Program runs from January 1 to December 31, 2023 and you’re automatically enrolled. Just sell SimpliNow Legacy Max (level death benefit) or SimpliNow Legacy (graded death benefit) and receive a bonus after writing one qualifying application.

Write ten applications and earn $2500!
Not appointed with Corebridge? Request a contracting link here.

Corebridge bonus amounts

Prepare to sell and earn your bonus today. Make sure you’ve registered on Connext, completed your required AML training, and can access the SIWL eApp under “Start Your Application” section in Connext. Check out our Agent Site for how-to videos and more!

SIWL Guide  Underwriting Guide

    


Kick off your SimpliNow Legacy sales!

Review the following list of program rules.

 

 

 

 

Tags: Final Expense, aig, Bonus Program, Corebridge

Introducing AFLAC Medicare Supplement and Final Expense Plans

Posted by www.psmbrokerage.com Admin on Thu, Mar 02, 2023 @ 02:32 PM

Tags: Final Expense, medicare supplement insurance, Aflac

Why Sell American Amicable?

Posted by www.psmbrokerage.com Admin on Wed, Mar 01, 2023 @ 04:56 PM

American Amicable-1


Tracing its roots back to 1910, American-Amicable Life Insurance Company of Texas is a progressive special markets insurer. The Company offers innovative life insurance and annuity products developed to target the individual needs of protection, wealth creation and estate preservation.

Historically anchored on a foundation of financial integrity, responsible management, and a strong commitment to every policyholder, American-Amicable Life Insurance Company of Texas looks to the future with great enthusiasm.

American-Amicable Final Expense Product Highlights:

  • Issue ages 0 to 85 (ages vary in some states)
  • Multiple Death Benefit Plans to qualify for based on health history
  • No Cost accelerated benefits including Terminal Illness & Confined Care
  • Affordable Premiums that never increase regardless of changes to your age or health.
  • Death Benefit cannot decrease regardless of changes to your age or health.
  • Benefits are paid to your beneficiary and are not subject to federal income tax.
  • Cannot be canceled because of changes to your age or health as long as premiums are paid.
  • Accumulated Cash Value can be used for emergencies or other financial needs.
  • No Medical Exams or blood work required as part of the application process.


American Amicable is A.M. Best Rating: A Excellent. They have a strong focus on service and support which makes them very easy to do business with.

Request contracting and product details today.

 

Tags: Final Expense, American-Amicable

Finding Life Insurance Opportunities During AEP

Posted by www.psmbrokerage.com Admin on Thu, Nov 03, 2022 @ 09:34 AM

Tags: Final Expense, Life Insurance, AEP

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