A Fundamental Lesson in Medicare Insurance Sales
Medicare insurance sales isn’t about “selling,” it’s about providing expert assistance and educating consumers to help them make a necessary choice.
This week on Stay Paid, we get a chance to speak with Kim Sixkiller, president of Magellan Healthcare and the founder and owner of K6 Resources where she trains insurance professionals to optimize their businesses and offer premier service when selling Medicare to their own clients.
Our interview with Kim is a treasure trove of sound advice. Among the numerous topics of conversation discussed are:
- The essential tools every agent needs when starting their own insurance business.
- Why you need to interview several IMOs before selecting the right one for you, and the questions you absolutely need to ask.
- A favored tactic for attracting Medicare leads that appeals to the preferences of an older audience.
- How to seamlessly build trust using a script that ensures no outside agent will ever succeed in upselling your
Perhaps one of the more intriguing topics discussed evolved when Kim suggested an agent should be converting at least 90% of their Medicare candidates. That, we thought, was an unusually high percentage, so we asked why so many agents aren’t hitting the mark. Her response reminds us that the key to any successful sale, and particularly Medicare insurance sales, is understanding your audience and their true needs.
Selling Medicare, Kim says, is different from other types of insurance sales. It isn’t pitching a product as much as it is an opportunity to assist someone making a decision they already know they need to make. When it comes time to enroll in Medicare, it isn’t about whether someone will or will not enroll—it’s about helping them figure out what Medicare precisely is and what coverage they will need.
The more successful insurance brokers and agents, the ones who are closing at 90%, put this need at the center of their approach and lead with education. Those who don’t typically end up overselling; they overwhelm their prospects with details rather than focusing on what’s important to know when deciding which plan is best for their client.
Kim reminds us that people seek out the help of insurance professionals precisely because they’re the experts, and consumers want and expect their professional to examine their situation and make recommendations. If an agent cannot explain with confidence what plan fits their circumstances and why, then they won’t convert.
We hope you enjoy this episode and act on the advice Luke offers at the end. We’d also appreciate it if you took a moment to leave us a 5-star review and comment on Apple Podcasts. (We read them on air!) Thanks for listening!
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