September 16, 2019

Back in 2015, we published our first article about planning for AEP – it was called Planning for the Open Enrollment Period. In this short pep talk, I encouraged all of our agents to offer ancillary products to their clients, including cancer and final expense.

Four years later, I'm still of the same opinion, but we've developed so many tools for agents to use that we didn't have then – I want to share these with you so that you can create your selling game plan for the 2020 Annual Enrollment Period.

Ancillary Products to Focus On This AEP

This year, I hope every agent offers an ancillary product to their clients.

Cancer plans are the easiest, and they may be the perfect product for your client. Cancer affects almost every family in America, and because about half of expenses related to this disease are non-medical, it is the perfect product to consider.

We are also experiencing one of our best years for final expense sales. This little add-on of only $30-50 per month is something you should consider.

Many seniors like putting this burden to bed and knowing their children will not be faced with out-of-pocket costs for their end-of-life expenses.

Getting Started With Cancer Plans

You might think we're cutting it too close, but getting started with cancer plans is incredibly easy.

Part of it is that cancer plans are needed, but they're also affordable. Once you go through your presentation and show the pricing options, there's really no reason you can't close the sale.

We put together The Ultimate Guide to Selling Cancer Insurance to Seniors, and this article will walk you through everything you need to start offering cancer plans this fall.

Plus, if you have a hard time remembering all of the statistics for your presentation, we put together a handout that's customizable to your business. It has all of the stats laid out for you, and it looks really sharp if I do say so myself.

Download the Cancer Client Handout

There are several great companies to choose from, but if you're starting off quickly, I'd recommend Aetna, which has a very competitively priced lump sum plan.

This is simple to understand and explain to clients, because as soon as they are diagnosed with cancer, they get a check. It really is that simple.

Getting Started With Final Expense Plans

Final expense is perfect for open enrollment season, because it's such a great add-on to Medicare Supplements.

If you can save your client money on their Med Supp, show them what the savings would buy them in final expense insurance.

Alternatively, simply ask if they have plans for final expenses!

Many don't know how expensive funerals (and other final expenses) can be, so give them a little education. Explain that there are many cases where a person dies and leaves their family with debt and final expense costs they can’t handle. Bankruptcy, GoFundMe pages, and more follow.

Most seniors will appreciate you bringing this need to light, and they will gladly make sure their family isn't left with the burden of final expenses.

You can read more about what carriers to choose and how final expense works here: How to Cross-Sell Final Expense to Your Current Medicare Clients.

Use A Cross-Selling System

Our retail agency, Sams/Hockaday & Associates, adopted a new sales system circa 2015 that has proven to be simply unbelievable.

It's a fact finder that will help you discover the needs of each client. No client's needs will be exactly the same – this questionnaire will help you provide personalized service that your clients will truly appreciate!

It's called a Client Needs Assessment, and it's free to download and use.

Download Your Client Needs Assessment Template

Once again, it's not too late to implement in your AEP appointments. In fact, Tim Bennett started using the CNA after 33 years in the business! 

"If you use the CNA, you're going to sell something," he explains. "Even a bad salesmen will come up with something. You'd be amazed."

[Read his story: Why An Agent Started Using the CNA After 33 Years]

What's Your 2020 AEP Game Plan?

Please set aside some time to plan your last quarter of the year, and reap the rewards of cross-selling. Your clients trust you and will be receptive to these real benefits to help with burdens when they occur.

Happy Selling!

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