Medicare Supplement For Starter...

[NoFault]

I'm from Michigan and currently am starting out doing FE and Life insurance, but after reading so many good things about MS, I would like to service this product as well. I have a Life and Health license, do I need to get additional license or certificate in order to do MS?

Also what companies are the most competitive in my are of Metro Detriot?

Thank you

 

[Cenla Agent]

Probably do not need an additional license, but some states have very different rules from others. Keep that in mind with any advice you may get from those in other states--it may not be totally applicable to you.

You might want to check with your state department of insurance. In many states the DOI publishes a Medicare Supplement guide that includes rates, ratings and contact information for Supp companies doing business in the state. Sometimes these aren't the current rates for the company and all companies may not included, but if MI publishes such a guide, it will help you get a picture of the landscape of plans in the state.

Mutual of Omaha companies (United World or United of Omaha at this point) are probably competitively priced in most if not all states. Assured Life Association/Woodmen of the World is very competitive in many states (it's not available in all states.) As you may have seen, Gerber is coming out with a very competitive supplement as well. There may be other companies that are very competitive in MI. Even though the premium isn't competitive in some states, AARP is another good option because they will accept anyone except for those with End Stage Renal Disease.

You asked about Metro Detroit. I don't know what the situation is there, but often in major metropolitan areas, Med Supps are higher priced and Medicare Advantage plans (especially HMO's) are very popular. In many of these areas Supps. are popular with some higher income people, especially those who travel a lot or insist on having the widest choice of providers possible. But many Medicare beneficiaries in these areas will opt for the $0 premium HMO plans, which often also include benefits and value added services that Medicare doesn't have. In my experience and that of others on the forum, due to the above and other factors, the Med Supp market is more of a rural market at this point, but with the recent cuts in MA funding, that may be changing somewhat as copays and premiums for some MA plans increase.

 

[steveadlman]

I'm from Michigan and currently am starting out doing FE and Life insurance, but after reading so many good things about MS, I would like to service this product as well. I have a Life and Health license, do I need to get additional license or certificate in order to do MS?

Also what companies are the most competitive in my are of Metro Detriot?

Thank you

Have you found any companies that have good rates for Alabama