Selling to seniors via video conferencing

The unaddressed truth behind Covid-19 is that until we get a vaccine, those of us who have an increased risk of serious health problems are going to need to remain socially distant even after the spike subsides.  While a therapy for the virus could be found as early as June, a vaccine is much further away, with most experts looking at the end of 2020.

Adjusting to the times

For a variety of reasons, many of you prefer to sell face to face, and right now you can’t, for the safety of yourself and your clients.

You are left with one of three choices:

  • Stop selling
  • Sell over the phone
  • Sell over video

Why Video Conferencing

Seniors are not as tech-illiterate as many people think.  In a study done by Amwell Health Solutions, data showed that 45% of American seniors have participated in video calls using FaceTime, Skype, and/or Google Hangout.  Some seniors are even catching up to the new Zoom movement, using it to talk to their family and friends.

73% of seniors claim that faster health related services, such as insurance consultation, are the driving reason for their willingness to use video conferencing.  Seniors have the will to participate, you just have to add this to your toolkit.

While calling could get the job done, you are missing an important layer – the visual cues.  With phone calls we miss 50% of the conversation because you can’t see how the person you are talking to is responding.  Video conferencing eliminates that limitation.

How do you do it?

So, how do you get seniors on the screen, not just on the phone?  The first secret is that you have to make it easy.  Best practice is to just have them click on a link you emailed them.  You’ll probably need to include instructions on how to find the link, but the more simple you make the process, the more success you will have.

Ask the senior if they have used to using Hangouts, FaceTime or Skype.  These popular systems are the most common, and you should adapt to their preferences.  By adapting to their preference, the success rate of your calls will be significantly higher.  While this may involve more flexibility on your end, it will undoubtedly benefit you in the long run.

The question “why you are taking meetings this way?” will come up, and be honest with them. Tell them it is to keep them safe in today’s environment.  This expresses that you care about them as a person, not just a client, helping your overall rapport.

In conclusion

By incorporating live video into your sales process you’ll be able to:

  • See your customer’s visual cues
  • Share and go over your quality presentation materials
  • Build a deeper relationship with your customer
  • Make more sales!

And if you need help matching with Medicare insurance prospects, don’t hesitate to give us a call at 866-368-0377.

What the Payroll Protection Program means for insurance agents

 

Congress recently signed the CARES Act to help relieve Americans of the economic impact COVID-19 has had in the US.  As part of this stimulus package, there has been a Small Business package included.  This $350 billion dollar program is called the Payroll Protection Program (PPP), and independent contractors can begin applying on Friday April 10th!

We put together this video and article to help guide you understand what this program is.

Are you qualified?

Most insurance agents in the US are paid as independent contractors.  You’ll know if you are one if you are given a 1099 each year or a W-2.  If you were receiving 1099’s, you are an independent contractor and are eligible under this program. 

If you are paid by a W-2, your employer, if they have less than 500 employees, can apply and pay you an average of what you earned in commissions over the last 12 months.

Here are the important details of the PPP:

  1. The maximum amount of the loan is 8 weeks of your average previous 12 months earnings (up to 100k), plus expenses for rent, mortgage interest and utility costs – which are no more than 25% of your 8 weeks earnings.
  2. You have to certify that you need the loan due to the impact of the Coronavirus.
  3. The interest rate is 1% and payments are deferred for 6 months.
  4. The loan can be forgiven based on how much you pay yourself plus your actual expenses
  5. There are no personal guarantees or collateral requirements
  6. Whatever isn’t forgiven has to be paid within 2 years

To apply for a PPP loan, you need to contact your bank.  Make sure they are a Small Business Association lender, or a SBA lender for short.  The SBA is the only association that will be writing the approval for these loans through member banks.  The total amount of these loans are limited to $350B, and while that sounds like a lot, it is expected to run out quickly.  This means you will want to take advantage of the Payroll Protection Program quickly.

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