Hospital Indemnity provides value to the client and to you, the agent.
While Medicare Advantage Plans may save clients on monthly premiums, it exposes them to risk of out-of-pocket costs. Many clients can’t afford these out-of-pocket costs. Hospital Indemnity plans help cover the major areas of financial risk for your clients. Not only does it cover inpatient hospital copays and observational care in a hospital, it provides all of this at a fraction of the cost of a Medicare Supplement. All of this builds value for your clients and for you as well.
As an agent, you have an opportunity to build a value to your business with Hospital Indemnity plans. Value is the key to success when presenting products to prospective clients. If all you do is compare prices of various Medicare Supplements/Medicare Advantage Plans the loyalty of the client is tied directly to the price of the policy. This is risky because anyone that comes along with a cheaper price on their plan may get them to switch based on price. Even worse for you, another agent may come along and build value around a group of products with your client and it becomes almost impossible to break through that value wall. That could be you! You could build that value in a group of products and, in doing so, build personal value and trust with your client making them you their “insurance expert.”
If you want to be your client’s personal insurance expert, SMS has tools to help you build that value and ingratiate yourself to your prospective clients. We launched a new HIP quote engine that includes a “fill the gaps tool” to match up MA coverage gaps with HIP benefits. Not only that, but we have marketing, sales, reference, and training pieces available for you! Last, but not least, we offer 1-on-1 support and training from our dedicated Hospital Indemnity Team.
In short, Hospital Indemnity is a great way to provide true value to your clients and, in result, provide true value to your business. Becoming an “insurance expert” for your clients will provide clients for life. When you have a client for life, you have guaranteed income for your bottomline and fantastic opportunities for referrals and future product sales.
*We do not keep product forms for all states. If you need a product that is not listed on the website, please reach out to us at 1-800-689-2800 for assistance.