Agents who focus on selling Medicare supplement (Medigap) insurance policies seem to be a lot more likely to cross-sell many other life, health and annuity products.
Stu Gramajo, market research director at Agent Link, has published data supporting that conclusion in a new summary of results from a survey of 1,200 licensed insurance agents.
The Clearwater, Florida-based insurance marketing firm provided ThinkAdvisor with special access to the summary. The summary is not currently available to members of the public.
Gramajo found that 29% of the agents surveyed are active in the market for products aimed at older consumers. About one-third of those agents sell Medigap policies, and about one-fifth sell Medicare Advantage coverage.
Both types of agents were equally to sell indexed universal life (IUL) policies: 27% of Medigap specialists and 27% of Medicare Advantage specialists sell IUL.