UPDATED: Nov 30, 2018
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About 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.
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.
Guarantee Trust Medicare Products
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 insured to choose their own doctors and guaranteed renewability. Coverage choices 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 costs, 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.
Like most agent-driven companies of this nature, Guarantee Trust Life does not offer online quoting. 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.
GTI has a toll-free claims line and offers claims forms for all of their policy types on the website. These forms can be downloaded, printed, filled out, and sent to the appropriate address as found on the form.
Claims reporting is not offered online, which is fairly common for insurance companies that focus on life and supplemental health insurance.
Claims for Medicare Supplement insurance are usually handled directly with the provider, although in some cases the insured may need to submit for reimbursement.
Ratings and Consumer Reviews
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.
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 an independent agent offering comparison rates.
For a list of companies that we recommend, visit our Best Insurance Companies page.