Do you sell Medicare Supplements?
Are you looking for new sources of Medicare Supplement leads, and don’t want to get ripped off in the process?
If so, you’ve found the right article!
I’m going to share my opinion on the best options for high-quality Medicare Supplement leads.
My goal is to help you to get BETTER results selling Medicare Supplements, no matter if you’re working the Turning-65 market or the Turning-67 market.
Buying Medicare Supplement Leads Can Be Risky!
The reason I’m putting this article together is that the vast majority of people that sell Medicare Supplements use some kind of lead system.
There are a lot of different Medicare Supplement lead systems out there. And while SOME work well, many are unproven, don’t work, and will drain your bank account dry!
To help Medicare Supplement agents figure out which lead system works best for them, I’ve decided to create this review.
It is based on my experience dealing with agents who sell Medicare Supplements and have had good results.
Remember, a lead is a lead
One thing to acknowledge is that Medicare Supplement leads are no different than any other type of insurance lead.
Ultimately, a lead is just a lead.
With that said, I think some leads are better than others. A lot of that’s going to come down to trial and error.
At the end of the day, the BEST lead program is:
- The one that you can afford.
- The one with the most consistent results.
Many agents want to be a top producer and want to go on convention. If you want this, you’ve GOT to have fresh leads on a WEEKLY basis.
The truth is the most productive, highly-successful Medicare Supplement agents are doing a recurring order every week and receive a significant flow of leads to work.
They’re not just doing 10 leads/week. They’re doing 20-40+ leads each week, providing them the lead volume to stay consistently successful.
2 Types Of Medigap Leads
I’ve broken this review down really into two different types of lead programs.
First, we’ll discuss Medicare Supplement telemarketing leads.
Second, we’ll discuss Medicare Supplement direct mail leads.
Telemarketing probably the most common way to generate leads, whether you call yourself or purchase leads.
Unlike a lot of other insurance niches like final expense where telemarketing leads suck, telemarketing still works reasonably well for the Medicare Supplement market.
To summarize what to expect…
First, I will show you the lead/lead vendor and demonstrate how each one works.
Second, I’ll show pricing options.
Medicare Supplement Telemarketing Leads
The first type of Medicare Supplement lead we’ll discuss are Medicare telemarketing leads.
Pros Of Telemarketing Leads
The biggest pro of telemarketing is its affordability. Medicare telemarketed leads are cheaper to generate compared to other lead types.
Additionally, telemarketing allows us to directly contact prospects that we KNOW are qualified. Why? Because virtually EVERYONE turning 65 is STARTING Medicare, and virtually all who are 65 and older are ALREADY on Medicare.
Targeting the Turning 65 market, we know that our prospects MUST make their minds up if they’re going to take a Medicare Advantage or Medicare Supplement plan when starting Medicare.
Calling these people several months out from their 65th birthday will result in a HIGH opportunity to begin a substantive conversation about Medicare and potentially buying Medicare Supplement coverage.
Medicare Supplement replacement opportunity
We know Medicare Supplement policy holders have annual price increases. If you’re targeting the Turning 67 And Older Medicare Supplement market, you can telemarket these folks without prior information and begin a conversation about how to replace their overpriced Supplement with an affordable Supplement.
Drawbacks Of Telemarketing Leads
What is the biggest con of Medigap telemarketing leads? If anything, it’s the saturation level of other agents calling the same prospects. Regardless of calling the T65 or T67+ market, you can count on other agents nationally to do the same thing.
Then you have to worry about the Do Not Call List. Each year, the pool of seniors unplugging their landline and opting out of receiving telemarketing calls is growing larger.
Long-term, expect telemarketing lead acquisition costs to steadily increase, eventually fading away as a primary marketing method. I imagine telemarketing has a good 10 to 15 years left before becoming obsolete.
Best Medicare Supplement Telemarketing Vendors
1. Trained Telemarketers
The first vendor is Trained Telemarketers.
They’ve worked together on Medicare, and both are incredibly successful agency owners and producers.
They put together this program chiefly because of the complaints that agents have with getting consistent Medicare Supplement leads.
The premise of their service is simple. You pay Trained Telemarketers a flat, one-time fee, which is currently $1,000.
For this price, you get access to:
- $99/month for a predictive dialer
- $49/month for unlimited data
- A $3/hour telemarketer
They train and coach a Filipino telemarketer using their tried-and-tested Medicare Supplement lead generation script.
Once they find and train your telemarketer, you decide what to pay them. Some agents pay $3/hour, while others pay more (or less!).
The ultimate goal is to hire a telemarketer at an EXTREMELY low hourly wage for decent-quality work.
Done-For-Your Telemarketer Training!
What’s great about this particular approach is that after you pay the flat fee, they do the work to get your telemarketer set up.
They have a network set up to find quality telemarketers who speak good English and have a solid work ethic.
TrainedTelemarketers also offers a 30-Day Money Back Guarantee.
I’ve sold insurance and recruited agents since 2011. While I recruit agents to sell final expense, mortgage protection, and annuities, I also recruit Medicare Supplement agents that are interested in face-to-face sales focusing on the turning 67 market. You can learn more about how my agency works.
I’ve talked to many agents that have used TrainedTelemarketers with great success!
These are just agents that said, “Oh yeah, I’m using this telemarketing program is pretty good. I get Medicare Supplement leads, and it only cost me $3/hour. I get a couple leads an hour.”
I’ve also heard, “I’ve scaled up! I’ve got three or four people that are calling, and I’m paying $12/hour for three or four people. I get 5 leads/ hour for 20 hours a week. It’s great, and I get to sell all over the phone (or face-to-face).”
This is an excellent program, and I really like it.
2. Lead Heroes
Let’s say you’re not interested in an upfront fee. You’re looking for a one-time order of Medicare Supplements leads.
Enter Lead Heroes!
Glen Shelton is the owner, and he’s been doing lead generation for agents for years.
He does final expense and Medicare Supplements. He generates for you the number of leads you need.
You can see teh list of lead options he offers here, along with lead generation samples you can listen to.
You can purchase different amounts based on your needs. Also, Glen has an awesome “Interactive Medicare Marketing Map,” which helps you understand the Medicare Supplement marketing penetration rate for a Medicare Advantage.
This helps you find which counties in each state are ideal to prospect for Medicare Supplements.
For example, most Medicare agents generally want around 30% or less of the population to have Medicare Advantage plans. It’s better to target for Medicare Supplements in areas with less Medicare Advantage prospects.
Medicare Supplement Direct Mail Leads
Now that we’ve discussed telemarketing leads, let’s discuss direct mail leads for Medicare Supplement sales.
If you’ve ever been to my YouTube channel and watched my videos then you know when it comes to final expense, I’m in love with direct mail!
I always believe that direct mail produces a particular quality of client that’s unmatched with other forms of lead generation.
I think it derives from the time invested from the prospect in responding, and the thought process that goes into filling out the card and sending it back.
The people who take the time to fill out and send back the card understand that they’re going to get a follow-up from an agent.
Pros Of Direct Mail
When we look at direct mail, the pros of using a direct mailer is that it is generally a better-quality lead. Most agents tend to get more appointments and close more business as a percentage of their total direct mail leads.
Why? You’ve got a card that you can show people to get in the door and door-knock on them. There’s a lot of advantage from a sales perspective, especially face-to-face.
Cons Of Direct Mail
Direct mail is pricier compared to telemarketing. Plus, it takes several weeks before your leads begin rolling in with direct mail.
At the end of the day, you get what you pay for in many circumstances.
Ultimately, you’re going to have to try either of these methods out to see what works best for you.
Best Medigap Direct Mail Lead Vendors
In this next section, I’m going to show you two different Medicare Supplement direct mail lead vendors that I’ve done a lot of business with.
1. Lead Concepts
Lead Concepts is one of my favorite direct mail lead vendors. They’ve done a lot of business with me. I like them a lot, and they do a great job.
To briefly summarize, they’ve got Medicare Supplement leads as well as Medicare Advantage.
The leads are highly responsive. I think just above a 2% response rate is what they expect. They do a great job.
Another great direct mail vendor is Need-A-Lead.
I’ve used Need-A-Lead lot in the final expense business, but they do lead generation for Medicare Supplement agents, too.
They say they’re getting 3%-6% of returns. I always discount that with any claims that I see and just reduce it a little bit, even 2%-4% would be fantastic. Then, they tell you how it works and get you a quote.
At the end of the day, we all know we need leads to be successful.
And the key to YOUR success is finding a program that you’re comfortable with. You should like and enjoy it, too.
From there, you can scale your lead program to whatever level necessary to achieve your income goals.
All of these programs work very well for the right type of agent. Be willing to experiment.
Give each program a shot!
Try one of these programs out and see what works best for you. You want to have a level of comfort in trying different ones or just mix and match them.
If you’ve got any questions or concerns with any of these Medicare Supplement vendors work or if you want more information, let me know. Please leave a comment below.
Also, make sure you go here learn more about my recruiting opportunities. If you’re interested in selling Medicare, the particular field that I specialize in is the turning 67 Medicare Supplement market.
I believe it is an easier way to get involved in the Medicare Supplement business. There is less specialization that you need to know. Also, there’s a lot of cross-selling opportunities, too.