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Are Your Clients Covered? Cross-Selling with Medicare

professional sales meeting
La Rae Mills, LTCP
La Rae Mills, LTCP November 12, 2024

La Rae provides leadership to the Insurance Operations team and oversees the creation and management of processes and compliance for the team. She also leads the Medicare segment of the business. La Rae works closely with carriers and agents to ensure we’re in compliance and working as efficiently as possible.

When you meet with your clients, do you only present one product? Or do you present a full package to make sure your client knows their options for full coverage? For example, when you sit down with a client to discuss Medicare, do you include quotes for dental, vision, and hospital indemnity? Many clients are coming off employer coverage where they had dental, vision, and perhaps other types of coverage. While Medicare compliance does not allow you to discuss life insurance and other benefits at the same time, it’s important you structure your meetings to make sure you discuss the entire package. So, how can you accomplish this?

Set a Discovery Meeting

First, arrange a discovery meeting as your first appointment. In this appointment, gather information about what the client currently has for coverage and what they will be losing due to retirement (if this is the situation). Once you have that information, you can provide a basic presentation of products and ask some probing questions.

Read More: Are You Discussing Retirement Planning Needs with Clients?

Ask Probing Questions

Here are some good starter questions for these conversations:

Long-Term Care Insurance: “I noticed that you didn’t mention long-term care insurance. If something were to happen tomorrow where you or your spouse would need extra care, where would you like to receive this care and how would you cover the cost?”

Final Expense Products: “I know this isn’t a topic most people like to talk about, but if you or your spouse—or tragically, both of you—died tomorrow, how would your funeral be paid for? Do you have a plan in place? If so, have you communicated this with your loved ones? Death can be a difficult time for all involved and planning ahead can at least help ease that burden. Would you be open to scheduling a meeting to discuss some options at a later date?

Life Insurance: “In our conversation, you mentioned you have employer life insurance. Would you be open to having a conversation about whole life insurance with the possibility of including a long-term care rider?”

You will likely need to schedule additional appointments to discuss other product needs. If you do sell Medicare, make sure you are compliant with your meetings by completing an SOA (Scope of Appointment) 48 hours in advance and only discuss health products at the Medicare meeting.

If you would like to learn more about any of the above products, don’t hesitate to schedule a call with me.