200,000 in residual income selling dental insurance

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Mel Schlesinger (336) 777-3938 $200,000 in Residual Income Selling Dental Insurance Creating an Immediate Cash Flow

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The proven dental insurance sales system for insurance agents wanting to earn $200,000 in residual income. Dental insurance is the ultimate business opportunity for insurance agents.

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Page 1: 200,000 in residual income selling dental insurance

Mel Schlesinger

(336) 777-3938

$200,000 in Residual Income Selling Dental

Insurance

Creating an Immediate Cash Flow

Page 2: 200,000 in residual income selling dental insurance

But Mel, There’s No Money in

Dental

Page 3: 200,000 in residual income selling dental insurance

There are 3 Types of IncomeLump-Sum: This is the income generated from

life insurance. You get a great first year commission but very little in renewal income.

Renewable: This is group health insurance. Each and every year you have to work as hard to keep to the business as you did to get it. You must re-shop the medical and occasionally move the business and re-enroll. That is work.

Residual: Sell it once and get paid for years with little or no work. This is a function of plan design.

First Some Definitions

Page 4: 200,000 in residual income selling dental insurance
Page 5: 200,000 in residual income selling dental insurance

Step 1- Have a Great Dental PlanWork with a carrier that offers both group

and individual dentalFor the group market find a plan with a

unique designThe unique design allows you to sell the value

of the plan. Plus it makes it difficult for an employer to shop.

Choose a rate stable plan design to avoid having to shop each year.

Page 6: 200,000 in residual income selling dental insurance

Voluntary LifeCancerCritical IllnessShort Term Disability IncomeAccident

Step 2 – Line Up Voluntary Products

Having these other products allows for cross-selling opportunities and increased per-enrollment revenue

Page 7: 200,000 in residual income selling dental insurance

Prospect for dental insurance explicitlyDo not try to be all things to all peopleDo not get distracted by quoting on the

medical.You can go after the medical next yearMedical is a low probability sale. Dental is

high probability Call on every one – small groups, large

groups, self-employed

Step 3 – Make the Calls

EVERY SALES COUNTS AND ADDS

UP

Page 8: 200,000 in residual income selling dental insurance

There Are Only Three Possible Outcomes For Every Call

Call BackInterest in

Dental

Not Interested in Dental

Page 9: 200,000 in residual income selling dental insurance

Interest In Dental

Page 10: 200,000 in residual income selling dental insurance

Fact Find – Do they currently offer:Group Medical – If so what % of employee

premium does the employer pay?Do they offer any voluntary benefits

Do you currently offer any voluntary benefits such as cancer of accident insurance?

Do they currently offer any ancillary benefits such as disability income, Group Term or VGL

Is the employer interested in paying for all or part of the dental premium?

Managing the Sales Appointment

Page 11: 200,000 in residual income selling dental insurance

And nothing else!!

Sell the Dental Plan

Page 12: 200,000 in residual income selling dental insurance

Dealing With Employer Contributions

Identify the employer’s budget. Do not settle for “I will pay 50% of the employee rate - get a specific dollar amount.

Ask: So if I found a plan that was (2X) you would be willing to pay $X for each employee?

Ask: “Can you share with me the reason for your willingness to pay $X? What are you trying to accomplish?

Whatever the reason ask: “Which do you think would better help you achieve your goal: a limited plan that paid 100% for cleanings and exams only but that you paid 100% for or a more robust plan that you only paid 50% towards?

Would you be open to that idea if I can find it for you and then allow employees to buy-up to a more robust plan if they want it?

Page 13: 200,000 in residual income selling dental insurance

•Instead of partial employer contribution use 100% employer paid minimal plan design

•100% for 2 cleanings 2 times per year with $25 annual deductible•100% for x-ray annually•Sample Duluth GA rate – $10.25 per employee per month

•Voluntary Robust Plan Buy-Up - $22.42

The Solution

Page 14: 200,000 in residual income selling dental insurance

Schedule the Enrollment

Secure Approval for the Dental

Page 15: 200,000 in residual income selling dental insurance

Oh, by the way ……….

Page 16: 200,000 in residual income selling dental insurance

If the employer currently offers voluntary benefits:You had mentioned that you currently offer

some voluntary benefits. I have been very successful with other clients in providing comparable benefits at significantly lower premiums. If I can help your employees get equal or better benefits at a lower premium would you have a problem with my replacing the current plans?

Oh, by the way ……….

Page 17: 200,000 in residual income selling dental insurance

If the employer does not currently offer any voluntary benefits:While I am enrolling your employees in the

dental and vision benefits I would also like to make a voluntary term life insurance benefit available. If the employees want to pay for the additional term life would you have any problem?

Oh, by the way ……….

Page 18: 200,000 in residual income selling dental insurance
Page 19: 200,000 in residual income selling dental insurance

Voluntary Dental / Vision – 12 enrollees$54 Monthly Commission

Cancer, Accident Replacement: $4000 in Annual Premium$184 in Monthly Commission @ 55% first year

commission

The Numbers on a 20 Life Group

Total Monthly Income: $238Total Annual Income: $2856

Page 20: 200,000 in residual income selling dental insurance

No Interest in Dental Insurance

Page 21: 200,000 in residual income selling dental insurance

IntroducingThe Pivot

Page 22: 200,000 in residual income selling dental insurance

Do you currently offer any voluntary benefits such as cancer

or accident insurance?

YesNo

May I ask one quick question?

Page 23: 200,000 in residual income selling dental insurance

Do you currently offer any voluntary benefits such as cancer

or accident insurance?

YesNo

Would you be interested in ……….

Page 24: 200,000 in residual income selling dental insurance

Do you currently offer any voluntary benefits such as cancer

or accident insurance?

YesNo

Would you be interested in ……….

Page 25: 200,000 in residual income selling dental insurance

Mr. Employer, because of the recent recession many employees have gone years without any pay raise while also having more of the cost of the medical insurance shifted to them. With that in mind many employers are looking at these voluntary benefits in the same way that they look at their medical and dental benefits. That is to say that they want to insure that their employees are getting the best benefits at the lowest possible cost.

If there voluntary benefits in placeStep 1

Page 26: 200,000 in residual income selling dental insurance

I have been very successful in providing benefits that are equal to and sometimes even better than the competition at significantly lower premiums. Would you be open to meeting with me to see if I can help increase employee’s take-home pay by saving them money on these voluntary benefits?

If there voluntary benefits in placeStep 2

Page 27: 200,000 in residual income selling dental insurance

Average Per Enrollee Commission: $4 monthly

10 Enrollees Per Week $40 monthly

48 Weeks per Year 1 $1920 MonthlyResidual Income Year 5 $9600 /

$115,200 year

Dental by the numbersThis is a combination of Group and Individual Sales

$115,200 in annual residual income and that assumes no other products were ever sold!

Sell 5 vision plans per week and add an additional $360 in monthly income year 1. By year 5 that equals and additional $1800 monthly / $21.600 annually

TOTAL YEAR 5+ INCOME = $136,800 TOTAL YEAR 6 INCOME = $164,160Just Selling Dental and Vision!

Page 28: 200,000 in residual income selling dental insurance

THE PERFECT DENTAL PLAN FOR

THE $200,000 RESIDUAL INCOME

STRATEGY

Page 29: 200,000 in residual income selling dental insurance
Page 30: 200,000 in residual income selling dental insurance

Mel Schlesinger(336) 525-

6357

www.thedentalinsuranceagent.com

For Information on Trailblazer

Dental Give Me a Call