Health Insurance Agent-Opertunitiy from Adversity

As a health insurance agent you see and hear all the economic adversity there is in the health insurance marketplace.  Prospects have much less money to go around and often health insurance is one of their last priorities.  Gas and food prices are much higher making it more costly for health insurance agents to business.  You may be feeling like throwing in the towel and giving up but there is hope…

Have you ever heard the saying “when things get tough the tough get going?”  Of course you have. Don’t worry, this is not going to be some motivational fluff for health insurance agents, but rather some real world boots on the ground ideas that can help you grow your health insurance business while times are tough and others around you fail miserably (because they are buying into that excuse).

Tip 1:  Increase your health insurance marketing efforts because your competiton is lessening theirs.

Lately I have run across a new situation when calling health insurance leads.  I seem to be the only one calling them or one of a few health insurance agents calling them.  Just a few months ago when calling internet health insurance leads I was competing against at least five to ten other agents for every single prospect.

Another thing that is happening is an increased level of calls from prospects in response to my signs and other health insurance advertising.  They are getting noticed better because of decreased advertisement from my health insurance competitors.

Tip 2:  Diversify your health insurance portfolio

Lately I have had an increase of products beside the core health plans I carry.  These include cancer, disease, accident, disability, and discount medical plans.

One reason for increased sales in these is that they are usually much more affordable than underwritten core health insurance plans and people are buying what they can afford in order to have any kind of health coverage.

Another reason is that many larger companies are doing away with these type benefits just to cut costs enough to provide a group health plan.

Tip 3:  Look for employees at companies that are under financial duress.

Many of these companies are doing away with their group health plans altogether just to stay in business.

Last week I came across a Major US company that is starting to provide a fixed amount to employees to purchase their own insurance because their group health policy was endangering their profitability.

Tip 4:  Look for individuals who own businesses in industries having tough times.

Good example right now:  Mortage brokers, real estate agents and contractors.  Many of these people have expensive individual health policies and need to cut back on their premiums in order to weather these tough times.

Okay, here is one motivational saying that is true:

Often the only difference between those who succeed and those who fail is that those who succeed hang on after everybody else lets go.

Don’t give up and don’t let go.  Let adversity be your opportunity.