Why are female rates cheaper than males for insurance premiums?
A female’s Medicare Supplement Insurance premium is less money than a males supplemental coverage because females are generally healthier and live longer. Every insurance company Retirement Transitions is appointed with, a female has cheaper plan premiums for their Medicare Supplement Insurance plan. The difference in the price a female pays isn’t tremendously less than a males in most cases.
Medicare Supplemental Insurance Premiums (rates) are determined by:
- Zip Code: Living in a larger city generally cost more in premium for insurance coverage.
- Age: The companies Retirement Transitions is appointed with, uses attained-age rating for calculating Medicare Supplement Insurance Premiums.
- Gender: Female rates cost less tan Males for insurance.
- Tobacco Use: If you’re a tobacco user, smoker for example, your supplement rates will be more expensive than a non-smokers rates.
- Discounts: A discount may be given to you if: You and another Medicare Supplement Insurance Plan beneficiary have coverage through the same company. Generally this applies to spouses and/or if you reside with a blood relative for at least 12 months. Discounts may be up to 12% off each policy holders monthly insurance premiums. Female rates and male rates for Medicare Supplement insurance will be lowered.
The best way to find out who will pay the least Medicare Supplement Insurance premium, is to compare rates online with the multiple variables above. If you have questions, call Retirement Transitions, and one of our Medicare Supplement Insurance specialist will be able to help answer your questions and concerns. Insurance companies have to have discounts approved by each State Department of Insurance. Check to see if your state offers discounts with the Medicare Supplement Insurance company you’re enrolled with by calling or emailing one of our specialist.
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