Medigap Monday: What’s Up With Policy Fees
Application fees are simply a specified amount of money required to even enter the underwriting process. Most insurance carriers charge an application fee, not all of them, but most of them do. They run anywhere from $7.00 to $25.00. You would only have to pay the application fee if you are approved of the policy. If you are not approved of the policy, you will not have to pay the application fee. If you are just starting Medicare, you will be automatically approved for a Medicare Supplement policy so you would have to pay the application fee.
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