Medicare Supplement News – Sentinel Security Life

Medicare Supplement Replacements
Notifying another company that coverage is being replaced is the responsibility of the insured or agent. Unlike life insurance replacements, state regulations do not require Sentinel to notify the replaced company when a new policy is issued. Federal regulations do not allow more than one Medicare Supplement/Medicare Advantage to stay in force at the same time, making it very important that the other coverage is replaced at the same time the new coverage takes effect.

Please note: if coverage overlaps, and a change in effective date is requested, any premium refunded will include a deduction of claims paid during the overlap period.

Please make your customers aware that they need to notify their previous company as soon as the policy is approved to avoid overlap in coverage. Do NOT  notify the other company until confirmation of approval is received as we do not want customers to forgo coverage if the application is declined.