Area of Opportunity: Out of Network Mental Health Benefits

Agents are always looking for ways to stand out. Why should someone come to you for an insurance product when they could go to someone else? Why should they elect to get insurance from one carrier when they can go to another carrier – maybe even one they know better?

Generic insurance sales doesn’t work as well anymore, not with so many agents competing for so few customers. That means that it’s going to be the individual details that are most important, and likely to be what sets you apart from other agents in the field.

Let’s use health insurance as an example. Most people are familiar with health insurance, but they also have options. They do not have to go through an insurance agent and, even if they do, they may need motivation to obtain an expensive, out of pocket policy.

So how can you make health insurance more attractive, and how can you make sure that your policy sounds interesting to the customer?

OON Therapy

If you’ve ever had to seek out therapy, then you know that two things are true:

  • It is very hard to find a good therapist.
  • The therapists you do find often are cash only, and require hundreds of dollars a session.

Very few people these days can afford to spend $200 per hour on a therapist, yet that is the market these days. These therapists also very rarely accept insurance, because most insurance limits how much they can charge per hour considerably. In-network therapists, because of these price limits, are often new and inexperienced, or they practice alternative and less proven therapies.

However, many health insurance policies are open to paying a percentage of the cost of out of network therapists. The range can be as little as 30% to as much as 80%, but they’ll cover some of it. Depending on the individual, that may be your selling point. If you can find them a policy that will reimburse a high percentage of their therapy bills, you may find that it opens the door for them to seek out much needed mental healthcare that maybe they were putting off due to these limitations.

That is how you can be different, and that is how you can show them that your policies are the right choice.

Knowing the Intricacies of Your Policies to Close the Deal

Truly succeeding as an insurance agent means being different in a way that helps customers want to work with you. Knowing your policies and understanding selling points is one way to do that.

As you continue to grow your book of business, look for these differences to see all the unique ways that you can make your products and services stand out from others.

Want another example? You can also learn about the non-admitted insurance market on Up 2 Speed, our new podcast here at LyteSpeed Learning.

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