For seniors, selecting an appropriate Medicare plan is undoubtedly a daunting task. The Medicare plan landscape today is unlike what it was a decade ago. Many seniors enrolled back then will now have to purchase a Medigap supplemental policy.

Unfortunately, with the ever-evolving policy features, it can be difficult to determine the best option for your situation. It all starts with partnering with the right insurance provider, which is where we can help. Below, this supplemental insurance agency in Crown Point, Indiana is going to discuss some of the key things you should consider before partnering with an insurance provider.

Agent vs. Agency

Independent agents can help you find a suitable insurance plan to fit your specific needs. However, when you work with an insurance agency, they may have agents operating throughout the area to assist you before and after selling the policy. The agency determines the premium according to the coverage as suggested by the agent, handles your billings, mails you the policy copy, initiates any policy changes as recommended by you and your agent, and pays your claims. Before partnering with a supplemental insurance agency in Crown Point, Indiana, it’s important to ask how they intend to cover future losses and your policy inclusion and exclusions.

Reputation

Agency reputation is a very important factor to consider. You’ll want to make sure you find out how long the agency has been in the business, if they’re authorized to do business in Crown Point, which types of products they sell, etc. If the answers leave you feeling satisfied, you can take the conversation forward.

Referrals

Referrals are powerful — especially for seniors, who may not be used to experimenting with different insurance agencies. You can talk to family, friends, or anyone else in your social circle about the agency they are using for their needs. Learn about their personal experiences and any tips and tricks they know before settling on one supplemental insurance agency in Crown Point, Indiana.

Agency’s Financial Strength

Not many consider this factor, but it’s important to understand the financial strength of your insurer. Why? Because you wouldn’t want them to back out in a difficult claim situation due to their economic instability. In short, the agency must have sufficient liquid assets to pay your claim. Furthermore, insurance companies also work with independent rating agencies that assign them a letter rating — such as AAA for the strongest fiscal position and D indicating a default.

Coverage

You should look for a supplemental insurance agency in Crown Point, Indiana that offers appropriate coverage for your needs. Adequate coverage will protect you against personal loss, and it is crucial to help you avoid significant financial hardship. Before deciding on a plan, make sure you understand what your plan includes and excludes. Do not forget to compare different plans to make sure you are getting just the best.

Affordability

You might be tempted to pay a lower price and keep the expenses easy on your pocket. However, that won’t necessarily guarantee adequate coverage. Taking price as the sole consideration would mean less money upfront but more cost in the long run. So, make sure you speak to the agent to understand the price differences and what to expect in return.

Ease of Doing Business

It is important to get a feel for how easy it is to do business with the agency you are considering partnering with. You can ask them about their processes, including online payment structure, customer service, policy changes, billing-related queries, etc.

Looking for a Supplemental Insurance Agency in Crown Point, Indiana?

If you are looking to partner with the best supplemental insurance agency in Crown Point, Indiana, you’ve come to the right place. At Senior Care Insurance Services (SCIS), we have experienced and qualified agents who can assist you in finding the right coverage. Contact us today to schedule a free consultation.