Selling Medicare Plans: What to Do When Your Client Insists on the Wrong Plan
Have you ever experienced a client insisting they want a plan you know isn’t the best one for them? If you’ve been selling Medicare plans for any length of time, you probably have!
Good agents don’t just focus on the insurance when making a sale—they also ensure their clients have the coverage they need to protect them and their health. That means making sure clients get the best plan for their unique needs.
So when a client has their heart set on a plan outside their best interests, what’s a good Medicare insurance agent to do?
Explain all the options
Even if a client arrives thinking they know what plan they want, they’re often willing to hear the options. That’s where your experience selling Medicare plans comes in. Gently convincing a beneficiary to hear you out as you present the pros and cons of a specific plan can go a long way toward ensuring they end up with the best plan for their needs.
A senior with their mind made up will probably say they don’t need to hear the options. But if you concede and sell them the wrong plan, they may discover a better option from another agent later. You don’t want to lose a client because they feel you didn’t explain all the options—even if they conveniently forget they wouldn’t listen.
Share your position selling Medicare plans
Imagine you’re working with a client. You’re selling what you believe is the right plan for their needs, but they’re mistrustful and suspicious. Finally, they share what’s on their mind, “Is this just the plan that pays you the most?”
It’s true. Some seniors may wonder if you’re suggesting a specific plan because you’ll earn a higher commission. They aren’t sure if you’re really recommending a plan to meet their needs or the one putting the most money in your pocket.
Many insurance agents receive the same commission, or very similar commissions, across various plans. You can build trust with your client by helping them understand this. You’re not offering other options for your own health and prosperity, you’re thinking of their needs.
But what if you do earn significantly higher or lower commissions for different plans? You might be able to use this to your advantage when selling Medicare plans, too! If you actually get paid less when a client picks a certain plan, go ahead and share this information with them. Your transparency might just earn their trust and convince them you’re looking out for their best interests.
How to manage your client’s idea of the “best plan”
Clients may walk in the door saying they want the “best plan,” thinking they know which one to choose. But what does that really mean?
As you know, the best plan depends on the client. Some seniors need to make their budget a priority and can only afford certain plans. Others have preexisting conditions impacting their health needs in the immediate future. Older clients may have concerns about their life expectancy and be focused on how long they need their plan to function.
Sharing stories of how different seniors benefit from different plans is another great way to build trust and establish authenticity with your client. If you demonstrate why a client who needs many surgeries would do best with “Plan A” while a client who needs no surgeries would do better with “Plan B,” you can help the client in front of you understand why there’s not one “best plan” for everyone.
Selling Medicare plans is an individualized process. As the agent, you’re there to help guide your clients with as much honesty and care as you can.
Improving your client relationships
Whether you’re seeing a client year after year or hopping on the phone for a single sale, the consultative relationship between you and your clients can be tricky. Nurturing your client relationships takes work, patience, and experience. But trust us, you’ll be happy with the results.
We help you stay up-to-date on important challenges facing agents selling Medicare plans. For questions, contact us today!
image credit: shutterstock/Iammotos
