What must an agent selling Medicare Supplement policies provide to every applicant?

An agent selling Medicare Supplement policies is required to provide a suitability form to every applicant. This form is essential because it ensures that the agent assesses the suitability of the policy for the individual client’s specific needs and financial situation. The suitability form is designed to help confirm that the policy being recommended meets the requirements and expectations of the applicant, considering factors such as their health status, financial condition, and overall retirement planning.

Providing this form aligns with the regulatory framework aimed at protecting consumers. It is crucial for agents to document this suitability assessment, as it serves to demonstrate that they are acting in the best interest of the applicant, thereby reducing the risk of inappropriate policy sales.

While policy brochures, financial disclosure statements, and coverage summaries are important documents in the sales process, the suitability form is particularly critical in the context of Medicare Supplement policies. It underscores the importance of matching a client’s unique circumstances with appropriate insurance coverage, ensuring that consumers are informed and protected in their healthcare choices.