Medicare supplement products are very popular among seniors. Many prospects come in with strong knowledge of their options which can often result in a quick sale. While there are plenty of seniors on Medicare targeting the right prospects can be a challenging task. Because of this we generally target Medicare sups as a cross-sell add on with other senior lines. With that said, we are aware of agents that focus on this line so we are going to cover the best options for generating pure Medicare leads. An appealing option as these policies offer nice commissions.
Referrals are without question the best way to generate Medicare sup leads and there are a few niche lead services as well – we haven’t used any of them to date. If you are looking to self generate leads direct mail is likely the best option. We have found direct mail gets a better overall response with Medicare than calling. Obtaining a good list of prospects currently on Medicare is a big win for a direct mail Medicare sup campaign. These lists aren’t always easy to find and will likely be expensive but if you find one it is probably going to be worth the price as the alternative will be a much broader campaign that will generate less response and more mailing costs. You will probably want to do some cost analysis on the two options prior to getting started.
As with the other senior lines keep every option available to cross-sell including long term care. There are many ways to generate Medicare sup business once you have an engaged prospect. We recommend targeting other senior lines and cross-selling Medicare but that doesn’t mean you can’t book business generating Medicare sup leads directly.