5 Flags To Watch Out For When Choosing Your Medicare Insurance Agent
In today’s episode, Susan wants to know what to watch out for when choosing a medicare agent or broker.
Watch to learn the 5 flags to watch out for…
Here’s the rest of the transcription:
(continued from YouTube…)
Tripp: Number three, not having an outside office out of their home.
Tripp: I would just say, and everybody has got to start somewhere as an Advisor, there is no question about that. You can’t get your license and then have a great office right off the bat, but what it does show is they are fairly new and maybe they may be doing it part time.
I think I read a statistic, sixty, seventy percent of the Insurance Agents that are out there are part-time. And this is too valuable a decision for somebody not to be on their game full-time.
Wendy: Exactly. Yeah I mean you know if you are in your home trying to work, especially if you are doing something part-time here is distractions, you are not focused, you are not committed, you are not out there in the community and building this business as a full time career, it is just kind of like an afterthought.
And that is dangerous if you put your trust in an Agent or an Advisor that is operating that way. This is too big of a decision, is too critical for your lifestyle to trust it with somebody who is…
Tripp: I will give you a quick story. Many years ago I was probably mid to late twenties a guy came in, said a few nice things to me and I could tell it was kind of out of the norm there; started building some rapport and then he told me he was with this certain big time financial agency and he wanted me to disclose all of my financials so he could kind of do a financial needs analysis.
And then I come to find out in the course of the conversation that full time he drove a bus, but he part time did the insurance thing on the side and at night. And I thought holy cow, I am not giving you…I mean you just…he is just not a professional.
Wendy: And those are the times when you get to that check in your spirit or red flag…
Tripp: That hunch like [inaudible 05:02] Anyway, I don’t know why I shared that but it is applicable. So you don’t want somebody working part time, it could cause you a lot of pain if they make a mistake for you.
Number for, newly licensed and not actively involved in the community. [inaudible 05:15]
Wendy: Yeah. And like you said, everybody has to start somewhere, we are not denying that. But if you are newly licensed, you don’t have that much experience and if you don’t have much experience then you are not going to have the tools in your arsenal to know exactly what your client needs in a particular situation.
Tripp: Or maybe enough carriers to choose from instead of just pigeon holing you into one carrier…
Wendy: That is a good point because a lot of times that brand new Agents, they go to a, they have become captive to a certain insurance carrier and they only have that’s carriers products, which is normally extremely limiting.
Tripp: And you know what? Many moons ago when I got in this business I was a captive agent but it didn’t take me long to figure out this is not good for the client because I wanted to give them more options instead of just forcing that…what is a square peg in a round hole.
And that is what a captive Agent, because they don’t have a choice, they can only push you in whether it is Humana or United Healthcare, or Aetna or Cigna. Well, that is why we write about thirty or forty different carriers.
Wendy: Yes they are just simply unable to pull back, step back, look and see what separates the forest from the trees and see it from a higher perspective to know exactly what needs to…
Tripp: And a better perspective to help you, you are the client. And so, my philosophy is we don’t focus on income, the income is determined by the outcome of what problems we solve. And so if I can help you in the best way possible…again, you know we get paid there is no secret to that, but I would rather get paid honestly, knowing I gave very best plan that was available instead of forcing you into something. Maybe I will make more commission, maybe it is not the right carrier, maybe they are not a rock solid carrier.
Wendy: Right. And the second part of that red flag, you said active in the community. That is really really important to me as well. You know it is just important to get out there and show your support of community and show that you care and network with people and partner with charities.
We are big proponent of the Twilight Wish Foundation and that is just important, it just shows that you have a heart and it shows that you care about what you’re doing and that you care about where you live…
Tripp: And it reverts back to the previous one, how can you do that if you’re only part time? So if you are a full-time Advisor, then you’re going to put that effort into being seen in the community and making contributions.
But if you are doing one or two other jobs and that is just a side thing, you are not going to make that effort to there. So that is number four.
Number five is not making it their practice to educate you and in other words they are just trying to sell all the time; instead of educating they are selling.
Wendy: In this day and age, that may have worked in the seventies, years ago, but nowadays we have such resources at our fingertips as consumers, we can go out and get the information on our own if we really need to. It takes a lot of time and it is definitely smarter to go with a professional.
But I don’t blame people who don’t, who just have a few professionals that harass them and pressure them, I don’t blame you for going out and trying to find the information on your own but…
Tripp: You know what it always comes back to that saying, “People hate to be sold, but they love to be educated and consulted…”
Wendy: And they like to buy …
Tripp: That’s right. And if you are at this age to be watching this video, if you are forty you’re probably not watching this, but if you are sixty five, seventy, seventy five, eighty and you are watching it, you do need to make a choice and you do need to buy.
Or maybe you have bought and you feel like something better or more affordable and that is where we come in as full time Advisors.
Wendy: I think that is why we try really hard to over deliver and really go above and beyond; setting up, doing these videos, educating, doing the workshops, doing the newsletters, you know being a contributor in some of those news outlets.
It is not easy and you can’t be lazy and accomplish a lot of things in life. And you have accomplished a lot, you shouldn’t be ashamed of that, but it is because you were willing to put in the work and attract people to you.
Tripp: And they deserve the value, they deserve the right content, the right information, the right options to give them the choices that you need to make.
And again, you have got to have health insurance. When you are sixty five, what are you going to do? Stay on your original Medicare or are you going to get Medicare Advantage? Do you need a supplement? If so, what supplement and what price, what carrier? There’s a lot that goes into it.
Wendy: Yeah. I think it all comes back to a heart issue. What is that phrase? People don’t care how much you know until they know how much you care. [Crosstalk 10:02]
Tripp: Moore true…like, it is funny when we do workshops to speak in front of fifty or a hundred ladies and that kind of thing, it is funny because you realize how they demand that trust factor more than any other industry.
Wendy: Oh, absolutely.
Tripp: I mean because we don’t sell Medicare supplements, it’s really selling trust and value and relationship. It is not the product.
Wendy: It is the connection, without a doubt, with anything in life especially for women.
Tripp: That’s right. So, I know we rambled a little bit, but those are five flags there, Susan.
Wendy: Yeah. Hopefully that helps you and if you need some more education, we always host a workshop a couple times a week. It is called What Women Need to Know about Medicare, so if you haven’t attended that, definitely do that. There should be a link somewhere you can register . And we will see you on the next video.
Tripp: See you soon.