Attained or Entry for Med Supps

[luke4275]

Does it really matter if a carrier prices the client at the age they enter and no incr bec of age, or if a policy goes up each year bec of age?At the end of the day, I was told that the increases that go up every year due to age, usually compare quite closely to the premiums that go up every 5 years or so?

 

[Longtimeagent]

Issue age policies are MUCH better, as they don't penalize the client for getting older. Attained age is not fair, so lets take an example.

Issue age, client gets an F plan @65, for let's say $105.00 and under and attained age he could get the same policy with company B for $95.

When the client hits, lets say, 75 he will be paying (issue age) whatever a 65 year old is paying for a new policy at that time. Under and attained age, he would be paying whatever a 75 year old would be paying for that same policy. When looking at the rates for most companies, just compare a 65 and a 75 year old rate and then make your next guess. Attained age can be cheaper at the start, but that is where the difference goes away, down the road.

Good luck, and hope that answers your question

 

[GreenSky]

The answer is much different in CA where desipite health issues an current Med Supp client can change plans once a year without medical underwriting.

I know of only one Issue Age policy here and it's so high in price that it never makes sense.

Rick