Monthly Bank Draft or Pay Annually for a Medicare Supplement?

The question we often get, “Should I pay annually for my Medicare Suppplement?”
Often times, seniors think they'll get a discount for paying annually. Well, with Medicare Supplements, they do not. Life insurance? Maybe, depends on the carrier, but NOT with Medicare Supplements.

There is a HUGE downfall to paying annually, in fact, with a Medicare Supplement, and this is something your clients MUST KNOW.

See the video.. the dangers of paying annually (or quarterly) for a Medicare Supplement:

Medicare Supplement Training

Equitable Life Nixes HHD in Illinois

Equitable Life Medicare Supplement announced that their 7% household discount in the State of Illinois has been discontinued, following regulatory intervention from the state.

Equitable's unique household discount required only one member to be signed with Equitable's Medicare Supplement and, if they lived with anyone in the house over the age of 30 (but not more than 5 people in the residence) they qualified for their 7% “household” discount.

Other companies that have “household” discounts, such as Mutual of Omaha, have been unable (as of yet) to get theirs approved in Illinois.
Mutual of Omaha and Aetna both have spouse discounts that require both to be covered for a discount to apply.

In other states, however, Mutual of Omaha is rolling out a 12% household discount if the covered member lives in a home with anyone over the age of 60.

In it unknown whether Equitable's household discount will be replaced with a spouse discount, requiring both policy holders to own Equitable's policy in order to qualify for a discount.

See the Equitable statement:

Equitable Life Household Discount Announcement


Medicare Supplement Training

Mutual of Omaha’s Direct-to-Consumer Application Process

Is it a good idea for a senior to fill out their own electronic application for Medicare Supplement coverage?
Should you, as an agent, send out direct mail with a carrier's website and a six-digit number code after it, and expect seniors to sign themselves up?
Absolutely not.. see the video:


medigap training

Residual Income and Insurance Sales

Medicare Supplement Training


I'm often asked, by agents considering coming into the niche of marketing insurance to seniors,

“Which way should I go? Life insurance sales or Medicare Supplement sales”

See the video:

The question really is, are you looking for one-time income or residual income?
If you can pay your bills right now, while starting to build your residual income, that's the best strategy.

Life insurance should be pursued in niche marketing. “The riches are in the niches.”
Medicare Supplement sales should be pursued to build a residual income for the future. This is a great retirement plan.

Mentioned in the video: – Medicare Training

Thanks for watching..

Chris Westfall
[email protected]