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IAC has made the decision to discontinue acceptance of applications for new Medicare Supplement Insurance policies effective December 31, 2020.

This decision does not affect current and inforce IAC Medicare Supplement Insurance policies. Current policyholders will continue to receive the highest level of care in policy service and claims handling.

TO: All Individual Assurance Company Medicare Supplement Agents

FROM: Individual Assurance Company

DATE: October 26, 2020

SUBJECT: Discontinuance of New Business

Thank you for your continued support and trust in Medicare Supplement Insurance products from Individual Assurance Company (IAC). Since introduction in 2014 and thanks to your hard work, IAC Medicare Supplement Insurance polices have provided coverage and peace of mind to over 50,000 customers.

As the Medicare Supplement Insurance marketplace continues to change, IAC has made the decision to discontinue acceptance of applications for new Medicare Supplement Insurance policies effective December 31, 2020.

This decision does not affect current and in force IAC Medicare Supplement Insurance policies. Current policyholders will continue to receive the highest level of care in policy service and claims handling.

 


Here are important dates and deadlines for your consideration:

  • In order to be accepted, an application for new business must be:
    • Signed on or before December 31, 2020, and;
    • Have a policy effective date on or before December 31, 2020, and;
    • Received by IAC in our home office on or before December 31, 2020. –
  • Applications which are incomplete as of close of business on December 31, 2020 will be withdrawn.
  • Plan-to-plan changes will not be permitted after December 31, 2020.
  • IAC eApps and other electronic sales materials will be disabled on December 31, 2020.
  • IAC paper applications should be removed from your inventory on December 31, 2020.

 

Your IAC Medicare Supplement agent state appointment(s) will not be renewed, and you will be notified of the termination by letter. Your commissions will not be affected by this not-for-cause appointment termination.

If you have questions regarding IAC’s discontinuance of new business for Medicare Supplement Insurance, please contact Agency Services at (844) 502-6780. Once again, thank you for your continued support and trust in IAC. We look forward to serving you in the future, so please watch for important announcements concerning other IAC and LifeShield National selling opportunities.

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