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Foresters currently has one of the lowest cost simplified issue final expense plans available. The commission for brokers/agents is 100% and can increase with production. They have an electronic application system and are approved in NY unlike most Final Expense plans. Commissions are paid directly to the broker/agent on a weekly basis.
If you would like to be appointed to sell Foresters, you may obtain the contracting here Foresters GA contracting May 2013 Completed contracts can be faxed to Crowe and Associates at 203-567-6235 or by email at Edward@Croweandassociates.com All contracts must include a copy of a valid insurance license and E and O certificate.
Foresters client application NY NOTE: Appendix 11 “Definition of Replacement” form must be completed with every application even if it is not a replacement
Foresters plan right rate book
Foresters Plan Right Rate Table
Foresters Plan Right Producers Guide
Foresters Plan Right Consumer Brochure
Once a broker is appointed, they are eligible to sign up for the voice signature online client application process with Foresters. This allows for prospects to be signed up through the phone and internet.
Vantis Life offers a 100% guaranteed issue life insurance policy called Guaranteed Golden. The GG product is the lowest cost guaranteed issue plan available for brokers to sell. Rates and applications are available in this post. The Guaranteed Golden Product offers the following features
- 100% Guaranteed Issue (No questions)
- Cash value build up
- permanent policy- rates never change
- Face amounts of $5,000, $10,000, $15,000 and $20,000
- Ages 50 to 80
- Incredible rates!
VANTIS GG RATE SHEET
Vantis GG premium form NY
Vantis GG premium form
VAntis GG app NY with replacement form
Vantis GG application FL
Vantis Application other states
Vantis Replacement Form
Please note that the application for NY and FL is different than the one used for other states. All three are available here. Applications may be faxed or emailed to Crowe and Associates. Fax number is 203-567-6235 or email at Edward@Croweandassociates.com
Are you an agent or broker looking to get appointed? If so CLICK HERE
There are only certain times when you can enroll/dis enroll or change a Medicare Advantage plan. Note that Medicare Advantage plans are sometimes called Medicare Part C or an MAPD plan. There is a general period when someone turns 65 in which they can enroll. This time frame is 3 months before the month they turn 65, the month they turn 65 and three months after they turn 65. There is also the AEP period during which current members can make any type of plan change. This period runs from October 15th to December 7th every year. During this time, an application can be put in to make a change for a January 1 effective date. The last type of period is the SEP period (Special Election Period) in which a change can be made at any time during the year. Click on the link below for access to a grid showing all elections.
Medicare election period cheat sheet
The term “Life Annuity” is rather generic and can have multiple meanings but it is almost always used when describing lifetime income from an annuity product. This post provides detail on the most common uses of the term and provide detail on how a lifetime income annuity works.
First meaning of the term “Life Annuity” = Annuity with a lifetime income rider: There are a number of companies that offer income riders that can be added to their annuity products. The income rider is a way to guarantee a lifetime income stream off of you investment for life. The riders usually provide for a substantial bonus on your money up front (approx. 2% to 10% depending on product) and will increase every year at a set compound interest rate (Going rate is 4% to 8% per year). Money in the product is guaranteed to increase at the specified rate for up to a specific number of years. Many companies cap the growth and 10, 15 or 20 years.
The point of the income rider is that it allows the investor to calculate exactly how much income they will be able to draw in future years. Once they decide to turn income on, it will pay out for the rest of their lives or if they have a spouse, it will pay out until both pass away. Income riders have become hugely popular in the last 10 years due to the perceived unpredictability of the stock market. Income riders can usually be added to fixed, fixed indexed or Variable annuities. The purchaser should know that the income rider guarantees the income only. It does not guarantee growth of the actual lump sum investment.
The second meaning of the term “Life Annuity” is usually associated with a Deferred Annuity or sometimes called “Longevity Insurance”. This is also an annuity but it functions in a different manner. The Deferred Annuity takes a lump sum payment and pays out a guaranteed future in come at a predetermined future date. The insured will usually not have access to the money prior to the payout starting which makes the Deferred Annuity less flexible than an income rider product.
The bottom line with lifetime income products is to find the companies that will pay out the most guaranteed future income. It is very easy to compare these products if you compare them fairly. For example. A 55 year old female wants to use $250,000 to create future lifetime income when she turns 65. She needs to find the company that will pay out the most to her per month in 10 years. Companies will try to say add “bells and whistles” to products to keep people from making this most simple of comparisons but if income is true need, there is no reason to look at anything else.
How Crowe and Associates can help you pick the correct annuity: Crowe and Associates is based in Brookfield, Connecticut. The agency is independent and able to work with any annuity company as a result. We are A rated with the BBB and help clients find the right annuity type and company to meet their needs. Once we determine the type of annuity needed, we will then shop to see which company is providing the best rates and terms. Feel free to request a quote through this site or call our office at 203-567-6235. You will be contact by someone from Crowe and Associates only. We DO NOT sell your information to other brokers or companies.
WOULD YOU LIKE TO LEARN MORE? ATTEND ONE OF OUR WEBINARS – CLICK TO REGISTER
There are 5 companies offering Medicare Advantage Plans (MA or MAPD) in the state of Connecticut. The 5 companies are Anthem BCBS, Aetna, United HealthCare, Connecticare and Wellcare. They do not all offer their plans in all counties of Connecticut however. This post provides an overview of what is available. Please call or email us for a benefit summary on any of the plans listed below.
WellCare- Offers plans in Fairfield, Hartford and New Haven Counties. Wellcare has a $0 premium plan that boasts the lowest copays of any $0 premium MAPD in Connecticut. They also have the only Dual Eligible offering in the state. Both plans are very strong from a copay and additional benefit standpoint. Wellcare does have network limitation that need to be considered. Networks tend to be best in and around cities. They do not have network in northern Fairfield county.
Anthem BCBS- Anthem offers plans in all counties of Connecticut. They have an HMO offering for $28 per month. They also have a PPO (available in limited counties only) for $18.00 that boasts very strong benefits compared to all other PPO plans in Connecticut. Anthem has a very large network but is missing some major Physician IPA groups in CT.
United HealthCare- United offers plans in all counties of Connecticut. They have 2 HMO plans ($99 a month plan and $0 a month plan) along with an AARP branded PPO plan for $24.00 a month. United has an extensive provider network through Connecticut. The UHC plans do not participate with Quest Labs which should be taken into consideration. All other major labs do participate however.
Aetna- Currently offer plans in Fairfield, Hartford, Litchfield and New Haven county. They have a $0 premium plan HMO, $94.00 HMO and a $90 PPO plan. The $0 premium plan has benefits second only to Wellcare when compared to the other $0 premium plans in the state. They also have a substantial network to go with the plan and allow for access to any Aetna Medicare HMO provider nation wide. The Aetna PPO is not competitive at this point due to a $1,000 out of network deductible.
Connecticare- We have a contract with Connecticare but they will not allow to post any comments about their plan. Call the office if you want information on this company 203-796-5403 or email Edward@Croweandassociates.com
HOW CROWE & ASSOCIATES CAN HELP YOU:
Crowe & Associates is an independent based in Brookfield CT. We are A rated with the BBB and are contracted to sell every Medicare Advantage plan in Connecticut. We are paid commission from the companies and do not charge clients a fee for our services as a result. We work with seniors in Connecticut every day to help them find the right Medicare plan to meet their needs. Feel Free to call our office at 203-796-5403 or email me at Edward@Croweandassociates.com
Would you like to learn More? Register for our “How to choose a Medicare plan” Webinar by clicking this link
A variable annuity (VA’s) is an insurance contract that relies on investment accounts (Mutual Funds) to determine performance of the money in the annuity. Depending on the product, there can be a number of different mutual funds within the annuity for the investor to choose from. There are usually more than enough accounts to choose from in order to have a diversified investment allocation. The VA’s have a number of riders that can also be added. I have provided a quick summary on VA products and some of the riders that may be added to them. Continue reading Variable Annuity Connecticut
A number of companies offer a variety of fixed annuities in Connecticut which often offer higher interest payouts than a standard bank CD. The term “fixed annuity” is very generic so I will describe the different types in this post. The type of fixed annuity that will work best for you depends entirely on your situation and what you are trying to accomplish. Lets move on to a description of each type.
Single Premium Immediate Annuity (SPIA)- SPIA’s are the oldest type of annuity and the way they work is very simple. You give the company a lump sum of money and they pay an income stream to you for a set amount of time. (5 years, 10 years, lifetime, etc…) The lifetime option can not be outlived but you are also giving up the lump sum of money in order to have the income stream. There are now Return of Premium SPIA’s which pay a bit lower income but insure that the any remaining principal will be paid out in the event of premature death.
Fixed or MYGA Annuity- This is the traditional fixed annuity. The MYGA stands for “Multiple Year Guaranteed Annuity”. This product is also refereed to as a “CD Like Annuity” at times. The plan offers a fixed interest rate at determined number of years. The rate can not change during the fixed years listed. So if you had a 5 year MYGA guaranteed at 3.4%, it means you will get 3.4% for 5 years. The rate is compounded every year. At the end of the 5 years, you are then free to take your money and go. If you take the money out prior to the 5 year term, you will pay surrender penalties on the product. (You are allowed to take 10% a year without penalty during the 5 year term.
Overall- MYGA’s really are a better way to a better fixed interest rate than that being offered by a bank CD. The consumer needs to be careful of a few things however. The first is to find out how long the surrender charges last on the product. You should match them up with the fixed interest rate period. If the interest rate on the fixed annuity is guaranteed for 7 years, make sure that the product has a 7 year surrender charge. You would not want to have a surrender charge that is longer than the rate guarantee. The second important point is to make sure that the rate you see is not just a first year bonus rate. If you see something like “5 year annuity with 4.5% first year rate” you need to inquire as this is probably really a 3.5% or 2.5% product with a bonus on the first year only.
Fixed or MYGA Annuity with Income rider- This is the same product listed above but some companies will allow you to add an income rider to the policy. The rider is a way that income can be elected on a lifetime basis in any future year. This allows the client to know exactly how much income can be taken for life. Income riders can be very useful but you need to know all the details. You will also want to know if the rider carries an annual fee.
Fixed Indexed Annuity- (FIA) Unlike the MYGA, the Fixed Indexed Annuity uses market based crediting methods to determine interest. The crediting accounts follow the S & P and various other market indexes to determine how much interest will be credited. Since it is a fixed product there can not be a negative year. The worse the product can credit is 0% gain in a down market. To make up for this protection, the insurance company will cap the upside gain allowed. There are a huge number of fixed indexed products that credit interest in a number of different ways. Income riders, accelerated nursing home riders and death benefit riders can be added to a number of the products offered. It is not uncommon for a bonus to be credited to the initial investment. They range from 2% to 12% depending on the product.
Overall- Fixed Indexed Annuities have many uses but it is important to pick the right FIA for its intended purpose. There are also products that have very long surrender periods so it is important to know how long you may be locking your money up for.
How Crowe and Associates can help you pick the correct annuity: Crowe and Associates is based in Brookfield, Connecticut. The agency is independent and able to work with any annuity company as a result. We are A rated with the BBB and help clients find the right annuity type and company to meet their needs. Once we determine the type of annuity needed, we will then shop to see which company is providing the best rates and terms. Feel free to request a quote through this site or call our office at 203-567-6235. You will be contact by someone from Crowe and Associates only. We DO NOT sell your information to other brokers or companies.
WOULD YOU LIKE TO LEARN MORE? ATTEND ONE OF OUR ANNUITY WEBINARS: CLICK TO REGISTER
A number of companies offer a variety of fixed annuities in Connecticut which often offer higher interest payouts than a standard bank CD. The term “fixed annuity” is very generic so I will describe the different types in this post. The type of fixed annuity that will work best for you depends entirely on your situation and what you are trying to accomplish. Lets move on to a description of each type.
Single Premium Immediate Annuity (SPIA)- SPIA’s are the oldest type of annuity and the way they work is very simple. You give the company a lump sum of money and they pay an income stream to you for a set amount of time. (5 years, 10 years, lifetime, etc…) The lifetime option can not be outlived but you are also giving up the lump sum of money in order to have the income stream. There are now Return of Premium SPIA’s which pay a bit lower income but insure that the any remaining principal will be paid out in the event of premature death.
Fixed or MYGA Annuity- This is the traditional fixed annuity. The MYGA stands for “Multiple Year Guaranteed Annuity”. This product is also refereed to as a “CD Like Annuity” at times. The plan offers a fixed interest rate at determined number of years. The rate can not change during the fixed years listed. So if you had a 5 year MYGA guaranteed at 3.4%, it means you will get 3.4% for 5 years. The rate is compounded every year. At the end of the 5 years, you are then free to take your money and go. If you take the money out prior to the 5 year term, you will pay surrender penalties on the product. (You are allowed to take 10% a year without penalty during the 5 year term.
Overall- MYGA’s really are a better way to a better fixed interest rate than that being offered by a bank CD. The consumer needs to be careful of a few things however. The first is to find out how long the surrender charges last on the product. You should match them up with the fixed interest rate period. If the interest rate on the fixed annuity is guaranteed for 7 years, make sure that the product has a 7 year surrender charge. You would not want to have a surrender charge that is longer than the rate guarantee. The second important point is to make sure that the rate you see is not just a first year bonus rate. If you see something like “5 year annuity with 4.5% first year rate” you need to inquire as this is probably really a 3.5% or 2.5% product with a bonus on the first year only.
Fixed or MYGA Annuity with Income rider- This is the same product listed above but some companies will allow you to add an income rider to the policy. The rider is a way that income can be elected on a lifetime basis in any future year. This allows the client to know exactly how much income can be taken for life. Income riders can be very useful but you need to know all the details. You will also want to know if the rider carries an annual fee.
Fixed Indexed Annuity- (FIA) Unlike the MYGA, the Fixed Indexed Annuity uses market based crediting methods to determine interest. The crediting accounts follow the S & P and various other market indexes to determine how much interest will be credited. Since it is a fixed product there can not be a negative year. The worse the product can credit is 0% gain in a down market. To make up for this protection, the insurance company will cap the upside gain allowed. There are a huge number of fixed indexed products that credit interest in a number of different ways. Income riders, accelerated nursing home riders and death benefit riders can be added to a number of the products offered. It is not uncommon for a bonus to be credited to the initial investment. They range from 2% to 12% depending on the product.
Overall- Fixed Indexed Annuities have many uses but it is important to pick the right FIA for its intended purpose. There are also products that have very long surrender periods so it is important to know how long you may be locking your money up for.
How Crowe and Associates can help you pick the correct annuity: Crowe and Associates is based in Brookfield, Connecticut. The agency is independent and able to work with any annuity company as a result. We are A rated with the BBB and help clients find the right annuity type and company to meet their needs. Once we determine the type of annuity needed, we will then shop to see which company is providing the best rates and terms. Feel free to request a quote through this site or call our office at 203-567-6235. You will be contact by someone from Crowe and Associates only. We DO NOT sell your information to other brokers or companies.
WOULD YOU LIKE TO LEARN MORE? ATTEND ONE OF OUR WEBINARS – CLICK TO REGISTER
Medigap Insurance plans in Connecticut (Also called Medicare Supplement) confuse many people but it is actually very simple to understand once you understand the key points. This post is intended to provide a general overview of “Medigap” to help consumers make an educated decision when choosing one. We will start with the basics of the things you need to know about Medigap plans and then touch on the basics.
HOW A MEDIGAP INSURANCE PLAN WORKS:
The first thing to understand is how a Medigap plan works. A medigap plan works as a secondary coverage to Medicare A and B (also called original Medicare). Original Medicare parts A and B provide coverage for Medical Services. In general, original Medicare coverage 80% of medical costs. The Medicare supplement plan covers what original Medicare does not. As a result, medical providers will bill orginal Medicare and the cost share (patient responsibility) is then sent over to the Medigap company.
WHAT MEDIGAP INSURANCE COVERS:
Medigap plans will only provide coverage on benefits that original Medicare covers to some extent. If Medicare does not provide any coverage for a procedure, the Medigap plan also will not provide coverage (There are some exceptions to this). There are a number of different plan in CT with plans A – M offered. Each lettered plan covers a different percentage of the costs that original Medicare does not cover. Some plans cover everything that Medicare doesn’t such as Plan F. Others only cover 75% such as plan L.
Supplements in the state of Connecticut are standardized which makes life much easier when choosing a plan. This means that they plans can not vary in the benefits they provide. For example, if you purchase a Plan F supplement, the coverage will be the same regardless of the company you choose. The only difference will be in the monthly cost of the plan. Some companies will add additional, value added benefits such as Silver Sneakers or other programs but the mandatory coverage must be the same for every plan.
Medicare Supplements do not cover drugs. If you want drug coverage, you must purchase it separately. (Called a Medicare Part D plan or “PDP plan)
WHO CAN BUY A MEDIGAP INSURANCE PLAN:
Medigap plans are guaranteed issue in CT. This means that you can enroll in any available plan regardless of your health or age. The only requirement is that you are on Medicare A and B. If you are willing to pay the monthly premium, you can have a plan. For people age 65 and older, the price is the same for everyone regardless of how old you are. (Example: If the AARP plan N costs $152.00 a month for a 65 year old, it costs the same for an 85 year old) People on Medicare under the age of 65 are also eligible for a supplement but they can have fewer choices if they are under the age of 50.
POPULAR PLANS AND COMPANIES:
Medigap comes down to plan type and price. If one company offers a plan L Medigap for less than the other companies, you should go with the one offering it for the least. Benefits are standardized so they can not be cutting out any benefits. They just have the best price. Having said that, the more popular plans over the last 24 months are Plan F, Plan N , Plan L and High Deductible Plan F. United AARP and Anthem BCBS currently have the lowest costs in CT which makes it easy to find the lowest cost company once you determine which supplement you want.
ABOUT MY AGENCY AND HOW I CAN HELP YOU:
My agency (Crowe and Associates) is independent and is based in Brookfield CT. The agency is A rated with the BBB and I have been in this business for 14 years. We are contracted to sell just about every Medigap plan in CT including, AARP , Anthem BCBS, Humana, Mutual of Omaha, Aflac, etc…. The companies pay me commission directly and I charge my clients nothing. I sit down with clients (in person, over the phone or by email) and help them determine which plan is going to work best for them. I also let them know if a new company comes out with the same Medigap they have at a lower price. I can help you understand Medigap and help you determine which plan is best for your specific situation. Feel Free to call my office at 203-796-5403 or email me at Edward@Croweandassociates.com
Would you like to learn More? Register for our “How to choose a Medicare plan” Webinar by clicking this link
Medigap plans in Connecticut (Also called Medicare Supplement) confuses many people but it is actually very simple to understand once you understand the key points. This post is intended to provide a general overview of “Medigap” to help consumers make an educated decision when choosing one. We will start with the basics of the things you need to know about Medigap plans and then touch on the basics.
HOW A MEDIGAP PLAN WORKS:
The first thing to understand is how a Medigap plan works. A medigap plan works as a secondary coverage to Medicare A and B (also called original Medicare). Original Medicare parts A and B provide coverage for Medical Services. In general, original Medicare coverage 80% of medical costs. The Medicare supplement plan covers what original Medicare does not. As a result, medical providers will bill orginal Medicare and the cost share (patient responsibility) is then sent over to the Medigap company.
WHAT MEDIGAP COVERS:
Medigap plans will only provide coverage on benefits that original Medicare covers to some extent. If Medicare does not provide any coverage for a procedure, the Medigap plan also will not provide coverage (There are some exceptions to this). There are a number of different plan in CT with plans A – M offered. Each lettered plan covers a different percentage of the costs that original Medicare does not cover. Some plans cover everything that Medicare doesn’t such as Plan F. Others only cover 75% such as plan L.
Supplements in the state of Connecticut are standardized which makes life much easier when choosing a plan. This means that they plans can not vary in the benefits they provide. For example, if you purchase a Plan F supplement, the coverage will be the same regardless of the company you choose. The only difference will be in the monthly cost of the plan. Some companies will add additional, value added benefits such as Silver Sneakers or other programs but the mandatory coverage must be the same for every plan.
Medicare Supplements do not cover drugs. If you want drug coverage, you must purchase it separately. (Called a Medicare Part D plan or “PDP plan)
WHO CAN BUY A MEDIGAP PLAN:
Medigap plans are guaranteed issue in CT. This means that you can enroll in any available plan regardless of your health or age. The only requirement is that you are on Medicare A and B. If you are willing to pay the monthly premium, you can have a plan. For people age 65 and older, the price is the same for everyone regardless of how old you are. (Example: If the AARP plan N costs $152.00 a month for a 65 year old, it costs the same for an 85 year old) People on Medicare under the age of 65 are also eligible for a supplement but they can have fewer choices if they are under the age of 50.
POPULAR PLANS AND COMPANIES:
Medigap comes down to plan type and price. If one company offers a plan L Medigap for less than the other companies, you should go with the one offering it for the least. Benefits are standardized so they can not be cutting out any benefits. They just have the best price. Having said that, the more popular plans over the last 24 months are Plan F, Plan N , Plan L and High Deductible Plan F. United AARP and Anthem BCBS currently have the lowest costs in CT which makes it easy to find the lowest cost company once you determine which supplement you want.
ABOUT MY AGENCY AND HOW I CAN HELP YOU:
My agency (Crowe and Associates) is independent and is based in Brookfield CT. The agency is A rated with the BBB and I have been in this business for 14 years. We are contracted to sell just about every Medigap plan in CT including, AARP , Anthem BCBS, Humana, Mutual of Omaha, Aflac, etc…. The companies pay me commission directly and I charge my clients nothing. I sit down with clients (in person, over the phone or by email) and help them determine which plan is going to work best for them. I also let them know if a new company comes out with the same Medigap they have at a lower price. I can help you understand Medigap and help you determine which plan is best for your specific situation. Feel Free to call my office at 203-796-5403 or email me at Edward@Croweandassociates.com
Would you like to learn More? Register for our “How to choose a Medicare plan” Webinar by clicking this link
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