Sight. Hearing. Taste. These three wonderful senses help people of any age perceive, interact with, and experience the world in full.
However, the body parts that allow us to enjoy these faculties are not immune to the general wear and tear associated with aging. They, along with the magnificent capabilities they enable, tend to deteriorate as we get older.
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According to one study, 23 percent of people age 12 or older suffer from some form of hearing loss in the U.S., with moderate hearing loss being more common among older adults. Researchers go on to report nearly 75 percent of Americans over the age of 70 have hearing loss in at least one ear. The World Health Organization reports about 285 million people have a visual impairment, two-thirds of whom are least 50 years old. Moreover, the American Dental Association states that older adults are more likely to suffer root caries. Nineteen percent of adults age 65 or older have untreated dental caries, according to the National Health and Examination Survey in 2011 and 2012, and the same percentage of indivudals in that age group lost have all their teeth.
Many young and middle-aged adults don’t have a problem obtaining dental, vision, and hearing (DVH) insurance since employers usually offer some form of it. However, older adults, the ones who arguably need it most, have a harder time finding DVH coverage. Eighty-six percent of Medicare beneficiaries did not have any sort of dental coverage in 2012, according to a study performed by Johns Hopkins Bloomberg School of Public Health.
Obtaining DVH coverage is more difficult for seniors because their primary option for major medical insurance leaves something to be desired when it comes to this type of coverage. What does Medicare cover? Traditional Medicare and numerous Medicare Supplements simply don’t cover basic dental, vision, and hearing exams and services. While Medicare Advantage plans do offer some dental, vision, and hearing coverage, it isn’t extremely comprehensive.
The problem? Many Medicare products don’t cover valuable dental, vision, & hearing exams and services
If something goes wrong with one’s teeth, eyes, or ears, it could affect the way he or she eats, speaks, or distinguishes danger, among other things. Therefore, receiving preventative, routine, and immediate DVH health care is critical to one’s overall well-being, regardless of his or her age.
Offering DVH products allows you to give seniors an affordable way to help fill in the gaps and get the coverage they need. It also gives you the perfect way to get your foot in the door with clients so you can eventually talk to them about their primary coverage. Furthermore, having DVH plans in your portfolio presents a good deal of other perks.
For starters, DVH business is easy to write as there’s no underwriting required and the benefits are simple to review. Another great feature is that you can write DVH policies anytime throughout the year. What’s more, these benefit-rich products make growing business a piece of cake!
Selling DVH products opens your business to unique referrals and builds your client base for AEP.
Selling DVH products allows you to open your business up to unique referrals and build your client base for the Annual Enrollment Period. They also make great products to cross-sell to your existing and future senior clients. And getting Medicare leads is quick and easy with Ritter Insurance Marketing’s Medicareful tool.
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The senior market offers more opportunity now than ever to manage a growing business. But, most agents overlook the advantages of offering this much-needed and important form of coverage. Stand out from the competition by offering what others aren’t and get ready to relish in success.