Assisting You with All of Your Senior Insurance Needs.
We shop for the so you don't have to!
We, at Allen Insurance, are a family owned and operated, full service insurance agency that specializes in health insurance products for seniors.
We offer the most competitive products to meet your Medicare Supplement and Burial Insurance needs. As an independent insurance agency we represent well over 40 of the best-known companies in the country for insuring seniors.
We are very determined and committed to finding the best companies with the best rates for our clients.
We perform a Medicare Supplement “check-up” each year to review our client’s policies and ensure that they never pay a penny more than they must for their Medicare Supplement insurance.
We will always be available for our clients. We take customer service very seriously.
So if you call us in a day, a week, a month or a year we will be here to help you. You can also choose to contact the customer service department of whichever insurance company that we place you with, but we encourage you to call us. We are your advocates and we are here to help.
COMPANIES WE REPRESENT
Our New Clients are Currently Saving $30 to $100 each month, without changing their coverage!
*The states we do business in include Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Michigan, Mississippi, Missouri, Nebraska, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, Wisconsin
Texas Department of Insurance Consumer Protection Department:
*In order to check out an agent’s complaint history, call the Texas Department of Insurance and tell the customer service representative that you want to check the complaint history of an agent. Provide the representative with the agent’s name and Texas Insurance License number.
Grant’s Texas License Number: 841396
For other states, you can use Grant’s National Producer Number: 1237963
MEDICARE SUPPLEMENT BASICS
Medicare Doesn’t Cover All Medical Costs
Traditional Medicare (Part A and Part B) only covers about 80% of necessary healthcare services. If you need certain services that Medicare doesn’t cover, you’ll have to pay for them yourself unless you have other insurance or you’re in a Medicare health plan that covers these services.
Even if Medicare covers a service or item, you generally have to pay your deductible, coinsurance, and copayments. Finding the right Medicare Supplement Policy can fill in the coverage gap that is missing in traditional medicare.
Click here to find out more about what services are covered by traditional Medicare.
All Medicare Supplement Plans are Standardized
It is important to purchase a Medicare Supplement policy to help pay the out-of-pockets not covered by original medicare. Medicare Supplement plans are regulated by state and federal laws which require plan standardization. There are 10 Medicare supplement insurance plans. Each plan is labeled with a letter of the alphabet and offers a different combination of benefits. Each plan of the same letter offers the same benefit, regardless of insurance company.
Once you know which lettered plan will best fit your needs, the most important thing to consider is the monthly cost. At Allen Insurance, we can help you not only determine which plan is best for you, but also help you find the best priced policy for your needs.
For a complete breakdown of the standardized Medicare Supplement plans, click here.
Many seniors face difficulties when trying to decide whether traditional Medicare and Medicare Supplement OR Medicare Advantage is best for their needs. Although the low monthly premiums associated with Medicare Advantage (MA) plans are attractive, before you sign up for a Medicare Advantage policy consider the following:
Are you Doctors part of the Medicare Advantage network you are considering joining? Otherwise you will be forced to find another doctor or pay out-of-network costs. Due to network restrictions, Medicare Advantage members have a limited choice of doctors, hospitals and nursing facilities.
If your doctor chooses to leave the network during the year you will have to find another doctor.
You can only leave the network during certain times of the year.
Have you budgeted for unexpected out-of-pocket costs? If you experience an unforeseen illness and find yourself hospitalized, costs could add up quickly. Combined deductibles and copayments for doctor visits and hospital expenses over a four-day hospital stay could easily cost you more than $1000. Maximum out-of-pocket cost each year with most Medicare Advantage plans range between $3,500 to $6,700.
Do you travel often? Medicare Advantage plans have specific provider networks which can fluctuate and may not be nationwide. Non-emergency services while traveling are billed at an out-of-network rate.
Medicare Advantage plans are run by “for profit” companies so they have cost cutting measures and rules that may frustrate you at a time when you are dealing with a major illness. Always remember, in an Advantage plan the less money the insurance company spends on your medical bills the more profit they make.
*Page 71 (bullet point #5) explains that all Medicare Supplement products are strictly standardized by the government. The ONLY difference is the premium you pay for your coverage.
LIFE INSURANCE FOR SENIORS
Burial Insurance, also called Final Expense Insurance, is normally a small amount of whole life insurance. It is very popular with seniors who are trying to cover the high cost of burial and other final expenses. It usually does not require an exam, and if a person can answer “No” to a series of 6-10 health questions, they can get the coverage.
Purchasers usually say something like this, “We’re not trying to make anybody rich, we just need a small amount of insurance (normally $5,000-$20,000) to cover our final expenses so we don’t burden our family with final expense costs.”
While some people choose to purchase a burial insurance policy, others might choose to cover their final expenses by using term or universal life insurance instead. Speaking with a knowledgeable and honest agent can help you make the decision that is right for your individual needs. Give us a call, we would love to visit with you about your options!
Whole Life & Burial Insurance
Whole Life Insurance is designed to last your “whole life.” This type of coverage requires that you pay a fixed premium amount every month. Because this coverage lasts your entire life, you never have to worry about outliving it. Whole life insurance is best bought by someone who needs the coverage to be in effect whenever they pass away, even if it is in the distant future. Many times these are people trying to cover end of life costs, such as funerals and left over debt.
Keep in mind, whole life insurance will normally cost more than term insurance because of the guarantee that someone will be paid in the end. Whole life is normally best for those age 65 and over who need smaller amounts of coverage. There are certainly exceptions to these general rules. A knowledgeable agent can help you determine if whole life insurance is the best type of coverage for your needs. Give us a call so we can answer all of your questions.
Universal Life Insurance
Universal Life Insurance is similar to whole life insurance but it is designed to be much more flexible. Today universal life insurance is normally sold in place of old traditional whole life insurance but it can also be made to operate like a term policy. When buying a universal life policy, you want to be careful of the details in the fine print because the increased flexibility of universal life products also creates complications and confusion.
If you are unsure of whether or not you would benefit from a universal life insurance policy, our agents can help you review your options.
Term Life Insurance
Term Life Insurance is purchased for a temporary period of time or “term.” The most common time frames for a term policy are 10, 15, 20, 25, and 30 years. Term Insurance is most effective and best bought by those who have a temporary need, such as until the children graduate from college, or until the house is paid off.
Term Life Insurance will normally be the most inexpensive way to buy life insurance because when you buy term you take on a risk, and the risk is that you could outlive the policy and never collect a dime. As a matter of fact, the majority of people who purchase a term policy will never collect on it. Generally speaking, term policies are normally a good fit for insurance buyers under the age of 60 that need large sums of insurance for only a limited period of time. Term insurance is neither good nor bad, it depends on what your specific insurance needs are. If you need help determining if a term policy is right for you, our agents would be glad to assist you.