Originally Posted by dgoldenz
Please post details and rates of the plan, assuming this is guaranteed issue. My client was presented with the Secure Access plan for something like $659/month and the limitations were ridiculous. Even worse is that the agent who presented it to him is licensed with the exact same company
I sold him a full major medical policy with. The agent has been licensed for 19 years and had no idea what HIPAA
portability was. I wonder which one pays the higher commission.
Either the plan you mentioned is underwritten or there is something missing from the equation. They are not giving away $400k in free care to anyone with a pulse that wants to sign up.
Well I no longer represent them, so it would be improper of me to present a plan.
However, Secure Access
is Guaranteed Issue and it is a flat rate. It’s for people that cannot get insurance any other way. No it does not have a high enough payout to cover a $400k accident, but that’s not want it is offered for.
is Underwritten and has different options that the customer can add to the policy. MedGuard
which is an option is Indemnity Insurance and is sold for a monthly dollar amount to buy “X” amount of dollars coverage based on age and other factors. Since MedGuard can be used to pay for anything (like Aflac does) it is often shown as a way to cover the deductible.
If they bought more MedGuard coverage than the amount of the deductible the rest could be used to pay for whatever the insured might need it for, again like Aflac.
USHA has a membership association with it. That membership includes up to 20k of accidental coverage with a maximum $500 out of pocket expense. In addition there is Accident Protector
which is optional coverage as well that goes above what the association membership covers.
Like I said USHA has coverage up to $500K and depending upon what the customer bought they could be insured for $400k accident.