Agents and AARP med supp

[Cenla Agent]

Their supp plans accept almost anybody, which is why they are so highly priced. The only people on a AARP supp I've come across who are anywhere near the ballpark are members who are in their mid 70's or older and who have had the plan for 7-10 years if not longer.

 

[Winter_123]

Their supp plans accept almost anybody, which is why they are so highly priced. The only people on a AARP supp I've come across who are anywhere near the ballpark are members who are in their mid 70's or older and who have had the plan for 7-10 years if not longer.

It varies by state and depending on how the rates are set. (one size fits all versus they go up with age etc). There are about fifteen med supp carriers in my state and AARP has the lowest rates by far.

Winter

 

[senior-advisor-indiana]

You only have 15 med supp carriers? What state are you in? Is United World in your state?

 

[Cenla Agent]

It varies by state and depending on how the rates are set. (one size fits all versus they go up with age etc). There are about fifteen med supp carriers in my state and AARP has the lowest rates by far.

Winter

That is true that it does vary by state. In LA I think they are even higher than United American, close to $200 per month for a Plan F, female aged 65. As you mentioned, it is basically one size fits all. The main reason people go with them here is their name, as well as those who can't be underwritten elsewhere.

15 supp carriers in the state seems quite low. There are probably at least 3 or 4 times that many here, but not all of them are taking new apps.

 

[midwestbroker]

AARP is amazing to me.

The "we have your best interests in mind" crap. If they really did, why only support one insurance carrier for health?

I have run across numerous people who love their AARP supplement. They would switch to anther carrier, but AARP pays the bills so well for them.

Amazing...I wish I had branding like that!

 

[Winter_123]

You only have 15 med supp carriers? What state are you in? Is United World in your state?

Maine. Actual count turned out to be 18 when I looked at it. No to United World.

Winter

 

[Cenla Agent]

AARP is amazing to me.

The "we have your best interests in mind" crap. If they really did, why only support one insurance carrier for health?

I have run across numerous people who love their AARP supplement. They would switch to anther carrier, but AARP pays the bills so well for them.

Amazing...I wish I had branding like that!

And 99% of them thinks AARP is the insurer too.

 

[policy doctor]

When prospects would ask me "what is AARP" or their insurance? I would say, it's a large senior club and they send you stuff about Medicare and Social Secuirty issues.

They also hammer you to death with endless solicitation for their insurance products, and they use a couple companies only. They never forget your name and address if you give it to them. Never.

Just like they continually advertise so you remember their name.

 

[Superchief]

From what I understand the AARP Med Supp accepts anyone with no ESRD and not confined in nursing home, etc.

Should see some good rate increases there huh?

On a different note...

Anyone appointed with Shen Life for med supp?

I just got about a 18% rate increase notification. I guess that's not too bad considering rates came out year and 6 months ago.

 

[Winter_123]

From what I understand the AARP Med Supp accepts anyone with no ESRD and not confined in nursing home, etc.

Should see some good rate increases there huh?

On a different note...

Anyone appointed with Shen Life for med supp?

I just got about a 18% rate increase notification. I guess that's not too bad considering rates came out year and 6 months ago.

How does the timing of all this work. Are you saying that AARP is about to increase their rates or could increase their rates at the same time as agents are allowed to sell AARP supps. For example, I go to my state insurance website and see the rates for AARP med supp. They are the lowest in the state. Are agents already being approved to sell AARP so presumably they are selling at whatever rate is currently on file in their state or is it more complicated than that. Is there some special sold-through-an-agent rate or are agents not approved yet and when that happens we might well see rate increases or ?

Winter