Atlantic Coast Life | Withdrawal of Medicare Supplement Business will be effective February 15th, 2023.
Atlantic Coast Life Insurance Company (“Atlantic Coast Life”) has made the decision to stop selling Medicare Supplement (“Med Supp.”) insurance plans as of February 15th, 2023. Atlantic Coast Life will continue to service all existing policies and strive to provide the highest level of customer service for policyholders and agents.
Please note: all solicitation of this product must cease as of February 15th, 2023, and all marketing materials must be removed from distribution channels and disabled from online viewing by February 15th, 2023.
Please see below for key dates associated with this change.
Agent Contracting
- All new agent contracting for the Med Supp. line of business will cease as of January 31st, 2023.
- Your state appointment to sell Med Supp. insurance plans will not be renewed. If you are also appointed for Annuity with Atlantic Coast Life, these lines will not be affected.
Commissions
- All Med Supp. the business issued after January 31st, 2023, will be paid on an as-earned basis.
- Commission advances on Med Supp. the business issued prior to January 31st, 2023, will continue per the advance agreement in your contract.
Medicare Supplement Applications
- Applications for Atlantic Coast Life Insurance Company’s Medicare Supplement must be signed, dated, and received in the Administrative Office no later than February 15th, 2023.
- In the event an application is received and found to have pending requirements, all pending requirements must be returned by February 15th, 2023, in order to receive an underwriting decision.
- Incomplete applications as of February 15th, 2023, will be withdrawn.
- Applications received after February 15th, 2023, will be declined.
