When your client shows interest in buying a health insurance plan from you, what is the first thing you do? You elaborate on what they need to know about the plan before selling it to them. As an insurance agent your success is not measured by the number of sales you make, but in how well informed your clients feel to be motivated to make a smart decision. If you are able to take out the jargon out from insurance and simplify the technical details, then you are a very good insurance agent. If you don’t feel very sure of yourself then here are the things that you need to highlight to your clients before you get down to selling them health insurance.
Things to talk about when discussing a health insurance plan with a client:
Cover Amount – This is the maximum amount that your client can ask the insurance company to pay for their hospitalization expenses. So, it is important that your client knows the limit before agreeing to purchase the health insurance plan.
Premium – An amount your clients will have to pay every year to the insurance company in exchange of benefits on the plan selected by them.
Pre-existing diseases –These are the diseases or health conditions that are diagnosed before your clients buy the health insurance plan. So, any disease or illnesses should be made known to the insurance company before buying such plan.
Waiting Period – Your clients will have to wait for a period of time before being able to avail of a pre-existing disease or condition covered under the health plan. So, it is important they are aware of the waiting period and how long the waiting period is expected to be.
Exclusions – Your clients should be informed on what are the various situations, scenarios, conditions and treatments that are not a part of the health insurance plan before they buy so that they won’t be confused during a time when they need to be admitted to the hospital. Make it very clear what they should expect and what not to expect because at a time of medical emergency they do not need the added stress of false assumptions on their heads.
Network Hospitals for Cashless Treatment – These hospitals are listed under health care providers that are tied to your health plan, so that your clients can benefit from medical care without having to worry about paying cash when it is time to be admitted.
Out of Pocket Expenses – There are certain expenses your clients may have to pay out of pocket with regards to their health care claims. These expenses are of three types:
Deductible – A deductible is an amount that your client can opt to pay for their health care before their health plan starts paying out. There are high deductible and top up plans.
Co-Pay – This is the amount that your client pays after paying the deductible. They will pay a portion of the claimable bill amount. It goes without saying that the lower the co-pay the better it will be for your client. There can be policies where there are no deductibles but co-pay is applicable.
Room rent Limit – This is important for your client to be aware of. When staying in a room where the rent is higher than the prescribed limit of the health insurance plan, then your clients will be made to pay the difference in the costs of the room and not only that they would also have to shell out a share of the full hospitalization amount.
Knowing these technical details will be the deciding factor on whether your client decides to go ahead and purchase the health insurance plan or not. As long as you do your job of educating them on these small but significant details, you will have done everything one can possibly do wearing your insurance agent shoes. If you haven’t briefed them on what to expect with his plan, then brush up on your knowledge, get your facts straight and come up with a plan of action of how you are going to break things down for your clients. Going the extra mile is a move that will always be appreciated by both prospects and clients alike.
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