An important part of sales is adapting your style to meet your customer’s individual needs. This is especially important when selling insurance to people who are still employed. Many seniors are staying in the workforce longer — and employed seniors may have very different needs and desires from those who have already retired.
Read on to learn more about the challenges of selling insurance to senior citizens who are still employed, then contact us at American Senior Benefits for more information.
The Challenges of Selling Insurance To Employed Seniors
Selling insurance to employed seniors can be challenging. But this group of individuals should consider purchasing additional coverage and you can help them understand the nuances of their coverage options.
These are some of the challenges of selling insurance to seniors who are still employed, along with tips for how to overcome these challenges:
Seniors who are employed already have health insurance through their employer.
Most people who are employed have a group health insurance plan through their employer. If they have worked for the same company for several years, they may have had their plan for a long time. This means people are often reluctant to consider additional health insurance options for fear of losing these familiar benefits.
As their agent, you can help educate your still-employed senior clients about how Medicare works when someone still has a primary health insurance plan. Their coverage depends on a few factors, like how many employees work for their employer, but in many cases individuals can add Medicare coverage as a secondary source of payment after their group health insurance. Some individuals may prefer to wait to enroll until after they stop working or lose their primary health insurance, and they can often do this without penalty.
Still-employed seniors may not know they can consider additional insurance options.
For many employed people, insurance is not at the top of their minds since their coverage is usually purchased fully through their employer’s group plans. This goes for health insurance as well as life insurance since many employers offer these benefits. But seniors have different insurance needs at this stage in life and may need to consider supplementing their employer-sponsored coverage.
Some employer life insurance plans pay a minimal benefit, for example. And some medical services may not be covered in full by the employer-sponsored health insurance plan — but seniors with Medicare could have additional coverage through their plan. You can help your senior clients understand these gaps in coverage and the additional coverage they could have by purchasing an additional life insurance policy or by enrolling in Medicare once eligible.
Seniors who are still employed may fear the additional costs of adding insurance coverage.
The cost of insurance is often a deterrent for people seeking coverage. And seniors may fear these additional costs will be overwhelming at a point in their lives when they are trying to reduce expenses to preserve income for retirement. You can help your senior policyholders understand the costs of enrolling in Medicare — and also point out how these benefits could help save money on healthcare costs in the future.
Talk with your seniors about enrolling in Medicare or a Medicare Advantage plan. Remember to encourage them to check with their employer to make sure they will not lose eligibility for their employer-sponsored health insurance plan if that is important to your client. Seniors do not need to fear the costs of seeking additional insurance coverage but they should know the facts.
How Do I Learn More?
To learn more about the challenges of selling to seniors who are still employed, contact us at American Senior Benefits. Our affiliated experts will be happy to answer any questions you have.