Episode 149: Success story with Reed Smith

On this episode of The Ty Brady Way, Ty is joined by Reed Smith! Reid shares how he has been working in the Medicare space for nearly 25 years but currently works in product development, mainly dealing with ancillary products. Reed explains how ancillary products are anything that fills a gap or a new with a product such as co-payments, deductibles, heart stroke policies etc. Ty and Reed speak about one of the very first policies he sold to a client who purchased a cancer plan and then was diagnosed with cancer two months later but her plan paid out $50,000 with which she was able to receive experimental treatment and remodel her house.

 

Reed emphasizes the importance of educating clients about insurance instead just selling it to them. Looking to the future, Reed predicts that the ancillary market for insurance will continue to grow as healthcare costs rise and new treatments and medical innovations emerge and he predicts that traditional insurance will have a hard time keeping up with these progressions.

 

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