Guarantee Trust Life Insurance Medicare Review & Complaints: Health Insurance (2024)

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Guarantee Trust Life Insurance Company is a family business founded more than 80 years ago. They provide life insurance coverage and a range of supplemental health insurance products including Medicare Supplement.

This Guarantee Trust Life Medicare review will look at plans, availability, and costs. We’ll cover how to get Guarantee Trust Life Medicare Supplement quotes and what you can expect from the process.

Before you choose to buy Guarantee Trust Life Medicare insurance, you should consider all of your options.

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What is Guarantee Trust Life?

Guarantee Trust Life (GTL) was founded in 1936, a family business that has been passed down through three generations of the Holson family. The website offers very little information on the company’s history, but it appears to have been stable over the decades. (For more information, read our “Guarantee Trust Life Insurance Review & Complaints: Life & Health Insurance“).

Headquartered in Glenview, Illinois, GTL offers products across the nation, although product availability varies by state. Medicare Supplement insurance is offered in 25 states, including the company’s home state of Illinois. The company does not offer any other Medicare products.

All of GTL’s products are sold through independent agents in the states they serve.

What Medicare Supplement Plans Are Available?

In most of the states where GTI offers Medicare Supplement, their list of available plans includes plans A, F, G, and N. In some states, they also offer plans B, C, D, and the high deductible plan F.

GTI’s Medicare Supplement plans offer an open provider network, allowing the people insured to choose their own doctors and guaranteed renewability. Coverage choices for medical benefits start with the most basic plan, A, which covers copays and coinsurance amounts for Medicare Parts A & B as well as the first three pints of blood each year. Plan F offers the most coverage, paying all out-of-pocket health care expenses, while the remaining options land somewhere in between.

GTI offers a 30-day refund on Medicare Supplement policies and rates locked in for a 12-month period. Those are relatively standard for this type of policy.

Are the Rates Competitive?

Like most agent-driven companies of this nature, Guarantee Trust Life does not offer online quoting of their premium cost. The company does not offer a rate chart for their Supplement policies either, which is something we see fairly frequently with Medicare Supplement.

As a result, we are unable to compare their rates to other national Medicare Supplement providers. Since Medicare Supplement is usually priced based on age, you can expect the rate quoted to be fairly accurate, even after the process of Guarantee Trust Life Medicare Supplement underwriting.

Guarantee Trust Life Medicare Claims Process

Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)

Guarantee Trust Life Insurance does not provide online tools or mobile apps for filing claims. To file a claim, customers can utilize the toll-free claims line provided by the company. Claims forms for all policy types are available for download on the company’s website, which can be filled out and sent to the appropriate address as specified on the form.

Average Claim Processing Time

The average claim processing time for Guarantee Trust Life Insurance is not specified in the provided information. Customers would need to contact the company directly for details on the typical time it takes to process a claim.

Customer Feedback on Claim Resolutions and Payouts

While specific customer feedback on claim resolutions and payouts is not provided in the available content, it’s mentioned that Guarantee Trust Life Insurance has an A+ rating with the Better Business Bureau (BBB).

There are 18 complaints on file in the past three years, with four of them closed in the past twelve months. Most complaints appear to be related to confusion about policy contracts. There are also negative reviews on Consumer Affairs, with common complaints concerning billing and rates.

Digital and Technological Features of Guarantee Trust Life Medicare

Mobile App Features and Functionality

The provided information does not mention specific mobile app features or functionality offered by Guarantee Trust Life Insurance. It’s suggested that the company does not offer online quoting for premium costs or rate charts for their Medicare Supplement policies.

Online Account Management Capabilities

Details about online account management capabilities are not mentioned in the content. It’s implied that the company does not offer online claims reporting services, which is common for insurance companies focusing on life and supplemental health insurance.

Digital Tools and Resources

The content does not provide information about any digital tools or resources offered by Guarantee Trust Life Insurance. There is no mention of online account access, policy management, or digital resources for customers.

Are the Ratings and Consumer Reviews Positive?

GTI has an A+ rating with the Better Business Bureau (BBB), and there are 18 complaints on file in the past three years. Four of those complaints were closed in the past twelve months. Of the complaints that provide details, most seem to be based on confusion as to the policy contract.

There are nine reviews of GTI on Consumer Affairs, all of which are negative. Common complaints involve issues with billing and bait-and-switch rates and coverage.

The complaint volume is not high considering the size of the company, and it‘s difficult to judge complaints regarding the customer’s understanding of the policy terms. That said, the complaints do seem to focus on the same issues repeatedly, which is worth noting.

Guarantee Trust Medicare: What’s the Bottom Line?

GTI has been around for a long time and appears stable. Without rate information, it is difficult to compare them directly to other companies on Medicare Supplement, particularly since the lettered policies are standard across almost all states. This is a company most likely to come to the attention of insurance shoppers via inquiry at an independent agent offering comparison rates.

Affordable Guarantee Trust Medicare insurance might be an option for you, but shopping around to compare rates is a must.

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