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Treating clients as if they were our own family members
Treating clients as if they were our own family members
Guarantee Trust Life Insurance Company is a mutual reserve company that is based in Glenview, Illinois. It was founded in 1936, making it one of the oldest insurance providers in the U.S. and also one of the most trusted and stable. GTL provides a wide range of accident, health, life, and special risk insurance products and services. Included in its suite are Medicare Supplements, also known as Medigap.
Medigap plans are policy add-ons to your Original Medicare membership that are created to help shoulder out-of-pocket expenses that the government is not able to pay for. While Original Medicare is already pretty comprehensive, different persons have different healthcare needs especially when they turn 65 years old. Medicare Supplements are intended to make sure these “gaps” are covered just in case.
Medigap policies are standardized across the United States and that government has made sure that all benefits are uniform wherever you may be. However, because Medigap is provided via private insurance agencies, the cost of monthly premiums and other additional fees may vary. This is why it is important that you shop around and compare rates first before you sign up for any Medicare Supplement program.
Guarantee Trust Life’s Medicare Supplement program offers four of the ten standardized Medigap plans. These are Plans A, F, G, and N. If you have no pre-existing health condition, you can rest assured that coverage will immediately be approved. You can also choose your own physician or specialist (and not have to select from a list) and enjoy guaranteed renewability for life. As long your monthly premiums are paid on time, you will have your policy for as long as you live.
The best time to apply for Medigap coverage is when you are already enrolled in Original Medicare Part B and are turning 65 years old. The government requires all insurance agencies to approve all applications to Medigap without conducting any medical underwriting assessments and regardless of one’s health status provided that the application was sent during the Open Enrollment period. This window consists of six months and begins on the first day of the month that you become 65 years old and ends 6 months after.
For example, if you become 65 years old in June 15, your Open Enrollment period starts June 1 and ends December 1. If you let this period lapse, you risk the chance of getting rejected or face higher premium charges for Medigap.
While majority of insurance providers offer similar benefits to their policyholders, what sets GTL apart are its 12-month rate guarantee and a 30-day free look policy. This means that if you purchase any of its Medicare Supplement products, you are guaranteed to have it at a uniform rate for one year regardless if you find your health declining midway. Meanwhile, it’s 30-day free look offering states that if you are not happy with your Medigap plan, you can return it within a month after it is received. You will then be given a full refund of all the premiums you have paid so far.
Other advantages to buying GTL Medicare Supplements, according to reviews online, are that it has excellent customer service and support, a wide range of additional products tailored for senior citizens, and a web application system for convenience. Discuss your options with GTL with your trusted Medigap advisor to find out which one is perfect for you.