If you are an insurance agent in the senior market, chances are, you have been asked about various ancillary products.
Ancillary products are secondary types of insurance plans that are designed to cover the gaps in your main insurance plan. The more common types are dental, vision, hearing, hospital indemnity, short-term care, and lump sum cancer, heart attack, and stroke plans.
Being able to offer these products will add value to your clients by protecting them from some of the potential pitfalls of their current coverage.
At Pinnacle Financial Services, we talk a lot about cross-selling different products and recommend doing so. Studies show that the more policies you have with a client, the less likely they are to buy from another agent.
Pinnacle Financial Services offers agents an extensive portfolio of carriers and products to help cover your clients in any situation. A common example of marketing these products is hospital indemnity with Medicare Advantage products. Pinnacle’s Medicare agents understand that there is a lot of potential risk for their clients should they have to stay as an inpatient in a hospital. Hospital indemnity policies protect them by paying an agreed-upon daily amount directly to the client after their stay.
Other common ancillary products marketed with Medicare Advantage that you will generally see are dental, vision, and hearing plans. These plans will typically have higher dollar amounts than the built-in benefits of some Medicare Advantage plans. Although recently, dental, vision, and hearing have been a primary focus in increased benefits with many of the major Medicare Advantage options, (states may vary).
It is important to have the proper tools and technology, not to mention partners, when it comes to the senior market. Pinnacle Financial Services is one of the top FMO partners in the country. We offer all of our contracted agents the top quoting software in the industry, online enrollment platforms to continue their business in a COVID-19 (Coronavirus) socially-distanced pandemic, and the best service in the industry. Whether you are an independent agent or a large agency, Pinnacle has everything you need. Don’t waste any time, with AEP right around the corner, and contact our team today!
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