Master the art of selling health insurance

An agents guide to selling health insurance plans

Discover everything you need to know about selling health insurance and how you can grow your business while helping clients find the perfect coverage.

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1.) Why Selling Health Insurance is a Game-Changer

2.) Unlocking Cross-Market Opportunities

3.) Building a Multi-Product Portfolio – The Benefits

4.) Strategies for Successful Cross-Selling

5.) Tools and Resources for Success

The Opportunity

Selling health insurance has always been a cornerstone of success for insurance agents, with growing demand from individuals and families seeking comprehensive coverage. The real opportunity, however, lies in going beyond health insurance.

By offering ancillary products and life insurance, you can unlock new revenue streams, strengthen client relationships, and stand out in the market.

Cross-marketing isn’t just an add-on—it’s a strategy to enhance your value and maximize earnings. Helping a client secure health insurance while seamlessly adding dental, vision, or life coverage creates a one-stop solution that benefits both your clients and your business.

In this guide I’ll provide actionable insights to help you build a multi-product portfolio, leverage cross-market opportunities, and elevate your sales strategy. Let’s dive in!

1.) The Foundation – Why Selling Health Insurance is a Game-Changer

⚡ Consistent Income and Business Growth

Selling health insurance provides agents with a steady income and long-term business opportunities. In 2024, over 14.5 million Americans enrolled in ACA Marketplace plans, reflecting the growing demand for health coverage. This demand translates into reliable residual income from renewals, which can make up 30-40% of annual commissions for agents.

⚡ Building Trust and Long-Term Relationships

Clients trust their agents to guide them through important health coverage decisions, with 95% of insured individuals relying on their agent for advice. This trust fosters long-term relationships, ensuring client loyalty and opening doors for additional sales opportunities.

⚡ Market Flexibility and Adaptability

Health insurance offers agents the flexibility to work with a diverse client base, including individuals, families, and small businesses. This adaptability allows agents to navigate economic changes and stay relevant across different markets.

⚡ Opportunities Beyond Health Insurance

By serving as a trusted advisor, agents can easily introduce ancillary products like dental, vision, or life insurance. These cross-selling opportunities not only boost earnings but also enhance client satisfaction by offering comprehensive solutions.

The health insurance market isn’t just about selling policies—it’s about creating lasting value and building a stable future for you and your clients.

2.) Going Beyond – Unlocking Cross-Market Opportunities in Health Insurance

Selling health insurance is just the starting point. The real opportunity lies in leveraging your client relationships to cross-sell ancillary products and life insurance. These additional offerings not only enhance the value you provide to clients but also significantly increase your revenue potential.

Ancillary products like dental, vision, hospital indemnity, and critical illness insurance are natural complements to health plans. Clients appreciate the convenience of bundling coverage, and these products address gaps that health insurance doesn’t always cover. For example, offering a dental plan to a client buying health insurance not only meets their immediate need but also strengthens their trust in you as a comprehensive advisor.

Life insurance is another powerful cross-selling opportunity. Clients purchasing health insurance are often already considering their family’s financial security, making it a perfect time to introduce life insurance. It’s not just an upsell—it’s a way to provide peace of mind by ensuring their loved ones are protected.

By incorporating these products into your portfolio, you create a one-stop solution for clients, making their lives easier while deepening your relationship with them. Cross-marketing isn’t just about boosting your income; it’s about offering holistic solutions that keep your clients coming back year after year.

Pro Tip: Studies show that clients who bundle their insurance with one agent are 70% more likely to remain loyal, ensuring consistent renewals and referrals.

3.) Building a Multi-Product Portfolio – The Benefits

When you offer more than just health insurance, you’re building stronger client relationships. A multi-product portfolio means clients can rely on you for all their coverage needs, making you their go-to advisor.

Studies show that customers with multiple insurance plans from the same agent are significantly more loyal. When clients bundle coverage—such as health, dental, and life insurance—they enjoy the convenience of one trusted advisor handling their needs.

This builds stronger relationships and makes them far less likely to shop around for other agents, ensuring long-term client retention and consistent revenue for you.

View ACA Portfolio View Ancillary Portfolio

4.) Strategies for Successful Cross-Selling Health Insurance

Cross-selling is most effective when it’s intentional and client-focused. Here are actionable steps to help you introduce additional products seamlessly into your sales process:

Listen for Opportunities:

During health insurance discussions, pay attention to clients’ needs or concerns about dental care, vision, or financial security. Use these cues to introduce relevant products.

Educate, Don’t Upsell:

Explain how ancillary products, like dental or vision insurance, fill gaps in health coverage and improve overall protection. Frame life insurance as a way to secure their family’s future.

Bundle and Save:

Highlight cost-saving benefits when clients bundle multiple policies. Presenting bundled solutions simplifies their decision-making and increases your chances of closing the sale, while being mindful of your clients budget.

Use a CRM:

Leverage client management tools to track their current coverage, identify gaps, and remind them of renewal or cross-selling opportunities.

Offer Tailored Solutions:

Customize recommendations based on their life stage and priorities. For example, a young family might need life insurance, while retirees might value dental and vision coverage.

5.) Tools and Resources to Succeed

Having the right tools can make cross-selling efficient and effective. Here’s what you need:

Marketing Materials: Flyers, email templates, and brochures from PSM's Marketing Hub.
Quoting & Enrollment Platforms: Tools like HealthSherpa for seamless comparisons.
Training Resources: Webinars and guides to stay updated on cross-selling techniques.
Automation Tools: Email campaigns to follow up during renewal periods or life events.

Tip: Send automated email reminders about ancillary products during renewal periods. For example, “As we review your health plan for next year, have you considered adding dental and vision coverage for complete peace of mind?”

Conclusion: Your Next Steps

Selling health insurance is just the beginning. By expanding into ancillary products and life insurance, you’re not just growing your business—you’re becoming a trusted partner in your clients’ lives. Use the strategies, tips, and tools outlined in this guide to start cross-selling effectively.

Ready to take your sales to the next level? Partner with PSM Brokerage to access the resources, training, and support you need to thrive in the competitive insurance market. Let’s grow together!

Schedule a call today and start building your multi-product portfolio!

5 Tips to Effectively Sell Health Insurance Plans and Cross-Market Ancillary Products

Know Your Audience

Position Ancillary Products as Solutions

Bundle and Save

Leverage Technology for Efficiency

Follow Up and Stay Engaged

Resources for Selling Health Insurance Plans

From mastering ACA enrollments to cross-selling ancillary products, we’ve got you covered with tips, strategies, and best practices to grow your business. Dive in and discover how to stay ahead in this competitive market!