In my career, I have learned a thing or two about sales. When I first started in this business, health insurance was not what it is today. It was more like selling a life insurance policy then health insurance. Well, the benefits where not the same but the application and underwriting were. Commissions were a lot higher as well.
Today, a QHP has no underwriting, and the application takes 3 minutes. So, it became a lot easier in my opinion to write a health insurance policy. I still qualify my clients and ask questions about current health conditions because I want to recommend the best plan. In addition, I want to have a good idea if they will pass the underwriting of a living benefit/income protection plan. If I think they will pass underwriting, I pitch living benefits/income protection 100% of the time. Not occasionally or if I think they can afford it. I pitch it to 100% of my prospects that I think will pass underwriting. At State Farm Insurance, agents are given the worst life insurance product on the market and because every single agent must ask about life insurance. That policy is one of the highest selling policies in the country. Its because they pitch it 100% of the time.
I remember my first Major Med application I filled out. It was laborious. Back in 2006, an application had 25 pages. Every health question if answered yes had 3 or 4 follow up question afterwards. Your applications had to be completed accurately or it will stay in underwriting forever. After doing two or three applications it became a lot easier. Today, Life insurance applications are so much easier than old health apps because of express underwriting. After 2 or three applications it will become easy for you to complete an application as well.
In my opinion, you will never sell anything you don’t talk about. Talk about living benefits/income protection and you will sell policies. Think of it this way, the only way to get good at something is to practice. Practice writing living benefit applications for your clients and you will become good at it.
