If you are a Medicare agent just starting out, you are probably wondering how to make a Medicare sale. The first thing you need to know is, you will hear objections from prospects sometimes. Your prospects are concerned about worried about costs and coverage. They may also be confused about all the different plan types available and what they cover. It is extremely important to Address objections in order to close a sale. We will provide a few common sense strategies to answer any questions that arise during a Medicare sale.
As with all Medicare sales, It is essential that you follow CMS guidelines as well as compliant sales practices .
Watch our YouTube video on how to make a compliant phone recording
The most important skill in Medicare sales is Listening
The best way to overcome objections is to listen. If a prospect raises an objection, listen to everything they say carefully to understand their concerns. It is not helpful to interrupt with a counterargument. This practice does not express genuine interest or empathy. You need to truly understand what they are saying and then find a way to let them know you have an answer to the problem.
Show prospects empathy
Acknowledge their concerns and validate their feelings. Empathizing with each situation builds trust and rapport. let them know you understand their concerns and that their questions are valid. This shows your desire to understand them and will make them feel comfortable talking to you.
Give them information
In some situations, objections come up this may be due to a lack of information or misunderstanding information. Be sure you give clients enough time to understand their Medicare coverage options. Provide clear explanations of plans tailored to their needs and preferences. Use any resource you can find; brochures, online tools such as quoting tools or zoom meetings. These provide a visual aid to help explain more complex information.
Remember, each client is unique. Tailor your responses accordingly. If a client is concerned about out-of-pocket costs, discuss Medicare plans that offer cost-saving benefits, such as low premiums, low copays or value added benefits. If they are looking for a specific provider, make sure they are in network with any plan they are considering. These ar ejust a couple things in a list of many to discuss with your prospect.
Provide real answers
Do not dismiss any question; provide solutions that address the client’s concerns. For example, if budget is the main objection, discuss Medicare plan options with lower premiums or if appropriate, discuss financial assistance programs. Providing personalized solutions shows the client you are able to meet their coverage and budgetary needs.
Additional information
How to maintain your Medicare book
Ask them a few questions to determine if they have any coverage gaps. Find out if their agent mentioned ancillary products like cancer or hospital indemnity insurance and discuss the value this coverage provides.
Watch a quick YouTube video on the benefits of ancillary sales
Make the sale
After all questions are answered, present them with coverage options that fit their medical and budgetary needs. Be sure to emphasize the benefits of enrolling in a plan tailored to their needs and reassure them you will provide ongoing support and guidance.
Get some tips for telesales
It is not always easy to make a Medicare sale. Successful agents provide a combination of active listening, empathy, education, and solution-focused communication. By understanding clients’ concerns, providing relevant information, and offering personalized solutions, agents can successfully make the sale.
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