WEDNESDAY, SEPTEMBER 23, 2020
Senior clients often have different insurance needs compared to your other insu rance clients. If you plan on selling insurance to seniors, you must be conscious of their unique needs in order to make sure that you have the right coverage to offer them.
Primarily, seniors are at a time in their life where health declines and coverage for medical expenses is critical. Consider offering your senior insurance clients policies such as:
Medicare
Medicare plans offered by private insurers can provide compensation for medical expenses such as hospital stays, doctor visits, medical procedures, and more. Private Medicare plans generally include coverage for inpatient and outpatient care.
Medigap
If you offer Medicare, you may also want to offer Medigap. This insurance helps fill in the gaps left over by most Medicare policies like co-payments, health care outside of the U.S. and deductibles.
Prescription Drug Plans
Not all Medicare plans are created equal. Most basic policies do not provide coverage for prescription drugs, leaving many seniors without a way to pay for their crucial medications. Providing a prescription drug plan for your Medicare clients can help them stay covered and draw in senior clients who don’t have this coverage option at their previous insurance provider.
Life Insurance
Everyone needs life insurance at some point in their life. This insurance helps set clients at ease by guaranteeing compensation for their loved ones after the client passes away. A reliable life insurance policy will provide compensation in a lump sum for various costs, such as funeral and burial expenses, shared mortgages, lost income and more. There are two main types of life insurance you may offer senior clients: term life and whole life. Generally, a senior will want a whole life insurance policy, as this type of life insurance will cover them up until they pass away, at which point benefits will be paid to the beneficiaries on their policy.
Some seniors may only want a term life insurance policy, however, which covers a certain amount of time, such as 10 or 20 years.
Long Term Care Insurance
Long term care insurance is another supplemental policy for health care available to seniors. This insurance covers costs related to long term care such as in home nursing, day to day assistance such as help eating, bathing and going to the bathroom, and certain care facilities such as homes for seniors with Alzheimer’s.
No Comments
Post a Comment |
|
Required
|
|
Required (Not Displayed)
|
|
Required
|
All comments are moderated and stripped of HTML.
|
|
|
|
|
|
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only.
It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional
in your state. By using this blog site you understand that there is no broker client relationship between
you and the blog and website publisher.
|
Blog Archive
|
|