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The survey found that 29% of respondents did not fully understand their Medicare Advantage plans, and 23% did not fully understand their Medicare Supplement plans. Given their lack of understanding, many Medicare-eligible Americans turn to agents for help with enrollment.
Twenty-nine percent of respondents said they trust their doctor most as a source of information on Medicare Advantage and Supplement plans, but only 3% used them as a source in selecting a plan. Following are respondents’ most trusted sources of information:
The survey underscored the importance of trust in licensed insurance agents among plan shoppers. Fifty-two percent of Americans who signed up with Supplement or Advantage plans were enrolled by an agent. Twenty-nine percent of those with Supplement or Advantage plans said an agent had enrolled them in person, and 23% said an agent had enrolled for them by phone. And 29% said they had enrolled online themselves, while 8% enrolled by mail and 11% cited other methods. Buying a PlanEighty-eight percent of respondents who signed up for Medicare Supplement or Advantage plans were the primary decision-maker in choosing a plan, according to the survey. Eight percent said their spouse was the primary decision-maker, while less than 1% said either an adult child, another family member or a friend had made the decision. When signing up, 82% of Americans 65 and older said they understood Medicare Supplement very or somewhat well, compared with 76% who said they understood Medicare Advantage very or somewhat well. Medicare Advantage came out on top in the survey in terms of ease of enrollment, with 59% of respondents saying it was easy to enroll in, while only 48% said the same about Medicare Supplement. MedicareGuide.com noted that Medicare Advantage applications are standardized and about two pages long, whereas Medicare Supplement applications vary by carrier and state, and nearly all are longer than 10 pages.  |
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PSM, in partnership with V2 is proud to announce the publishing of Annuity 360, written by their $30MM Producer Ford Stokes. Ford wrote this new book, Annuity 360, to help advisors generate valuable referrals for their financial advisory business.
It’s as Easy as 1-2-3:
- If you hand out the Annuity 360 book or mail it to your clients and prospects with your custom contact sticker, you will write more Fixed Indexed Annuity Business.
- If you thoroughly read our Annuity Book Referral Machine, you will generate qualified referrals and you will write more FIAs.
If you order Annuity 360 books from Annuity360Books.com and follow the steps, you will write more FIAs quickly!
Here’s What Your Clients and Prospects will learn by reading Annuity 360:
- How they can benefit from Annuity Companies competing for retiree dollars.
- How a Fixed Indexed Annuity works and grows.
- How investing in a Fixed Indexed Annuity can help them avoid the negative impact of loss in your portfolio.
- Famous people who significantly grew their money with annuities.
- Financial Reserve requirement of a Fixed Indexed Annuity and a Bank CD.
- Important investment rules including the Rule of 100, the 4% Rule and the Rule of 72.
- How a bond replacement can save them fees and generate significant growth.
- How they can implement a ROTH IRA Ladder Conversion within an Annuity.
- The type of Fixed Indexed Annuity that they should consider purchasing to effectively protect and grow your hard-earned wealth.
- How they can create their own personal pension that you can never outlive.
