In the weeks ahead, you’ll be visiting in person or by phone with almost every one of your clients and prospects. That means that you have a great opportunity, with a slight adjustment to your normal sales pitch, to increase your income substantially while offering a great benefit that both individuals and employers will be interested in.
We’re talking, of course, about dental insurance. Do you make a habit of showing it during your sales presentations? If not, now would be a great time to start. Here’s why:
Did you know that there’s a strong correlation between a person’s oral health and their overall health? There is. So if you sell health insurance in part to help people stay healthy (through preventive care, treating chronic conditions, etc.), then your offering really isn’t complete without dental insurance.
True, dental care is usually less expensive than medical care, so one could argue that people without dental insurance can still go to the dentist and just pay out of pocket, but here’s something else to think about: according to the National Association of Dental Plans, “Americans with dental benefits are more likely to go to the dentist, take their children to the dentist, receive restorative care and experience greater overall health” than people who don’t have dental coverage. That’s a pretty good reason to buy dental insurance.
Yes, people need dental, but they also need several other types of coverage. The difference is that they actually want dental insurance. And, when we consider that it’s only about a tenth of the price of health insurance, that’s a big deal. An employer that spends $350 of a $400 monthly premium for health insurance might find that the employees appreciate their $35 dental plan just as much and actually use it more. That doesn’t mean that the employer shouldn’t offer group health; it simply means that the company should also consider offering dental coverage, especially if the company is using employee benefits as a recruitment and retention tool.
The same goes for individuals and families – in a difficult conversation about health insurance premiums, out-of-pockets, and provider networks, explaining how you can save your clients and their families money on their dental expenses could provide a much-needed bright point in the conversation.
While health insurance commissions might be somewhere around 5% of the monthly premium, dental commissions are often three times that much. Sure, the premium is a lot lower for dental, so the commission will be lower from a dollar standpoint, but there’s also less work in selling dental. When it’s offered as an additional benefit to an existing client (meaning you don’t have to go hunt for the business), it can be a big bonus.
Here’s the math based on the numbers we just showed.
In this example, you could give yourself a 49% raise simply by offering your clients something they probably want and need.
Did you know that AHCP works with up to 10 dental carriers in most states and offers dental plans in the group, individual, and Medicare markets? That means that we have plenty of options to choose from and can make is super easy for you to offer dental coverage to your clients. If you’re not selling dental, now’s the time to start.
You may not need to represent 10 different dental carriers, but it certainly wouldn’t hurt to have a few that you can present to your clients. Contact us today and we’ll get you set up with some great carriers so you’ll be ready to go during the busy time of the year.