As we gear up for AEP I wanted to quickly
share my favorite Medicare Supplement Carriers. There are two of them,
and this first one is a given for me. Right off the bat we have Great Southern Life.
The instant issue is the obvious perk and it’s very nice, but there are a lot of
other little things that stand out to me as a producer. Their e-app is done on a platform
that several other carriers use. As an agent, I don’t want to learn
someone’s new e-app platform. As silly as that sounds, I want
to be in my comfort zone when I’m in front of the client, so that familiar e-
app is a big deal to me. On the e-app, the ability to do the signature pad
is as quick and clean as anything. Secondly, when you do an e-app over the phone,
the voice signature is so easy. The underwriting is good,
they only go back two years on cancer, where a lot of carriers will go back three or five years. They have tremendous incentives as well. No other carrier offers anything like it.
That cash bonus is the icing on the cake for sure. Prices are competitive. I know when I meet with someone that that I’ll be able to save them money,. Plus, Americo and Great Southern Life
are A- Rated companies. The only thing that you have to be aware of
is the height and weight chart. When you go through the health questions, don’t forget to ask the height and weight to be sure they’ll qualify. The second carrier is going to be a new one, but I’m anticipating this to be a big carrier for me after hearing the highlights. Capital Life is launching
their Medicare Supplement on October 1st, with policy issue dates of January 1st.
First of all, their underwriting system is really neat. I love the quick underwriting decision, but sometimes the computer system declines someone
for something silly. With Capital Life it’s my understanding that
there will be a red light for a decline, green for approved, but also a yellow light
that’s sort of an in-between. This will be a short phone interview for clarification.
While you can call in and try to reverse a declined application, this yellow light system
is going to save a ton of headaches. I also like that the admin is by Aetna.
Aetna has years of experience, resources, and just a volume
of business that they’re used to handling, so I’m feeling really comfortable with Capital Life
even though it’t a new name.
Finally, the rates are expected to be
at the top for F, G, and N. I do a lot of G business, and being in the top
1 or 2 spots for that is pretty compelling. So, my game plan for this AEP is to keep
focusing on Great Southern Life, and I look forward to doing some new
business with Capital Life as well. Good luck this selling season, and reach
out to us if you have any questions or need to do some last-minute contracting. Thank you.