Senior Health Insurance Offers a Great Opportunity for new Insurance Agents
As an agent there are few industries you can enter as fast and as cheap as the senior health insurance business. Take an online training course and pass the state exam. That’s it. A few hundred dollars and two or three weeks of time. In this article we’ll outline the frequently asked questions agents have when it comes to breaking into the Senior Health Insurance side of the industry.
Once you’ve decided you’re ready to sell Senior Health Insurance you can get started by taking your Life / Health & Ethics Prelicensing Course.
Do you want to begin making money right away?
Yes! This is a good reason you want a career selling senior health insurance. You see, once you pass the state insurance exam, you can put your shingle out and start selling the same day. No internship. No waiting.
Do you like helping people prepare for the future?
When you sell senior health insurance, you are helping families cover critical health care needs and protect nest eggs they’ve worked a lifetime to build. You can really make a difference here.
Why is senior health insurance such a hot topic?
10,000 Baby Boomers will turn 65 EVERY DAY for the next 10 years and they ALL need to buy senior health insurance or at least a supplemental insurance plan.
Do seniors need health insurance . . . don’t they get Medicare for free?
Yes, people who qualify at age 65 can sign up for Medicare. But, Medicare does NOT cover all the costs of senior health care. In fact, it only pays for 80% of all senior medical costs. The other 20% is where you can help by selling them a Medicare Supplement Insurance Policy. Also, millions of seniors are now choosing to buy Medicare Advantage Health Insurance, an extremely popular alternative to Medicare. It’s all approved by the U.S. government and you can make money selling either type of insurance.
What kind of license do I need?
To sell senior health insurance, you need a health insurance license, sometimes referred to as an accident and health license.
Requirements to become licensed?
You must be a minimum of 18 years of age and take pre-license training. No need for a college degree or years of special training. With a simple background check and a training course, you can apply for and obtain a Health license with the California Department of Insurance within a few weeks.
What does it take to get licensed?
Required: 20 Hours of approved Life and Health Training. Do it all online Buy Here
Required: 12 Hours of approved Ethics Training online. Buy Here
What else can I do with a health insurance license?
A Health Insurance Licensee is a person authorized to act as an insurance agent to provide a variety of insurance policies. We’ve already talked about senior health insurance products like Medicare Supplements and Medicare Advantage Policies. But, you can take your career to new levels by offering your senior health insurance clients long term care insurance to cover expensive nursing home costs should they have a chronic illness. Medicare does NOT cover long term care so clients have a real need to hear what you say here too.
Is there additional training?
Yes. To sell Medicare Advantage Insurance, you will need to take special training after you get your state license. Don’t worry, it’s not that involved and the insurance company you license with can help you get it. To sell long term care insurance, there is an overnight course you can take online. No worries here either.
Do I need to pick one company or can I represent several?
The nice thing about senior health insurance is that you can choose to be appointed by one company or multiple companies. That way, you can give your clients a choice.
How do I get sales leads?
Senior health insurance marketing has been fine tuned for many years. There are companies that specialize in generating leads that you buy at very reasonable rates. Or, the insurance company you sign with may also provide leads generated by TV ads or other marketing programs.
What are some other benefits I should know?
Selling insurance can be very lucrative and it’s always nice to be your own boss. The other bonus is something called residual income. When you sell a life or health insurance policy, you not only get an insurance commission up front, you collect an annual commission for many years. When you sell a lot of policies, this residual income can be substantial and it comes to you every month . . . it’s like getting paid twice!
Make a list
Grab your tablet, make that list of your goals and dreams. Include industries and clients that you would enjoy working with and start now.