Medicare / Senior Services
Another non-traditional revenue stream that provides another opportunity for CRA partners is the ‘graying of America’.
Did you know that each day 10,000 Americans turn 65 years old? On this milestone birthday, these individuals immediately become Medicare eligible, which translates to 62 million people.
Unlike most other insurance markets, the Medicare market is underserved. There are not enough agents to service the demand created by the Baby Boomers turning 65. Given these demographics, this trend will continue into the foreseeable future.
This market does not have enough agents to meet current demand as folks need guidance through this complex everchanging landscape. Additionally, Medicare costs the same price with or without an agent. This is a huge evergreen market for CRA agents.
What does that mean for you?
NJ Medicare supplement example:
One NJ Medicare policy = $715 up front commission (renewals at 50% commission)
Write 3 policies per month for a year = $25,749 a year
By end of year 3 with 2 years of renewals (with attrition) = $48,938 a year