Photo by fizkes on Adobe Stock.
Did you know that every day in the United States there are approximately 10,000 people who turn 65? Studies show that the number of older adults will surpass 88 million and represent 20 percent of the population by the year 2050! If that doesn’t get you excited about wanting to sell Medicare, then I don’t know what will!
Market Size
An evolving market is the primary reason you should think about selling Medicare products. As mentioned previously, the amount of our population over the age of 65 is getting bigger every year. And as more modern families continue to wait to have children until their thirties, the United States’ senior population is predicted to expand exponentially as a whole and may eventually outweigh the number of people below age 65.
Quick history lesson: The Great Depression and World War II led to families putting off marriages and having children. However, once the war ended, there came a period of economic prosperity where millions of children were born. This generation, born between the years of 1946 and 1964, is now hitting the age of 65, which creates an expanding list of potential Medicare clients.
Regulation
If you are unfamiliar with the insurance business, selling Medicare may not seem appealing to you. It comes with different rules and regulations that may not seem worth the hassle. However, the heavy regulations are one of the reasons you should pursue selling Medicare. CMS rules prohibit you from making cold calls or door-to-door visits, this means the clients you visit with are already interested in talking to you and learning what you have to teach them! All you need to do is close. Similarly, having the appropriate regulations in place ensures that you are partaking in an ethical business. What can be more rewarding than that?
Plenty of Products
Once you start working within the senior market, you will find that you are able to offer them a variety of products. After you get the proper certifications, you can sell Medicare Advantage plans, prescription drug plans, special needs plans, or Medicare supplement plans. You may also have the potential to cross-sell a variety of ancillary products. In particular, the senior market is always searching for dental, vision, and hearing plans. Take the opportunity to double, maybe even triple, your commission!
In an industry that looks out for the well-being of its consumers, it is assuring that there are thousands of individuals turning the age of 65 each day. In turn, this is a great opportunity for any insurance agent to multiply their commissions. If you haven’t thought about selling Medicare, it may be time to start!
Agents
We hope that this information on why you should sell Medicare products is useful to you.
Empower Brokerage is dedicated to helping you make informed decisions about your health and finances. Whether it’s through webinar training, one-on-one calls, seminars, or marketing plans, we want you to be successful!
Give us a call at 888-539-1633 or leave a comment below if you have any questions.
Quick links:
Kayla is a graduate of Texas A&M University and joined the marketing team at Empower Brokerage in early 2021. She creates content for the company websites and assists with various marketing campaigns. LinkedIn Profile
