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Pekin Medicare Insurance Review

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UPDATED: Nov 30, 2018

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Pekin Medicare Insurance
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Pekin Insurance is a multi-state regional insurance company approaching their one-hundred-year anniversary. They write a variety of personal and commercial insurance including auto insurance, home insurance, life insurance, and supplemental health insurance.

About Pekin Insurance

Pekin Insurance was founded in 1921 to provide affordable auto insurance to local farming communities in Tazewell County, Illinois. Like many insurance companies, it has its roots in the farm bureau of the area but quickly expanded to serve other markets. In 1952, Pekin added fire insurance products, and then inland marine in 1960. Pekin Life Insurance Company was formed in 1965 and writes a variety of life insurance products.

The company’s headquarters remains in Pekin, Illinois although they now serve multiple states. Their entire product lineup is offered in six states: Arizona, Illinois, Indiana, Iowa, Ohio, and Wisconsin. Pekin Life Insurance offers a selection of products in nine other states, with expansion into other markets continuing.

Medicare Supplement insurance products are available in all of the states Pekin serves. Products are sold through independent agents.

Pekin Medicare Supplement

Pekin offers a range of Medicare Supplement plans that differ based on the state in which you live. For the purpose of this review, we looked at the plans offered in the company’s home state of Illinois.

Pekin offers four out of the eleven possible Medicare Supplement plans. Plan A is the most basic and available from all Medicare Supplement insurers. It covers Medicare coinsurance amounts and the first three pints of blood each year.

Pekin also offers Plan F in both versions – no deductible and a high deductible. This plan covers all out of pocket costs not paid for by Medicare. The high deductible option allows the insured to get the coverage at a lower cost by paying a deductible before coverage kicks in. This plan ensures you will know what your out of pocket costs will be and can plan for them while paying less each month.

Pekin’s final offering is Plan G, which lands somewhere in between the other two in terms of coverage. In many cases, it is a good budget option for those that prefer not to have a deductible.

Pekin pushes Plan F on their website, citing it as their most popular plan; in fact, in order to find out which plans they offer we had to go into the FAQ section as only Plan F is described on the main Medicare Supplement page.

Rates

Pekin Insurance does not offer online quoting. There is an option to request a quote, but this does not provide numbers right away. Instead, it will send your information to a local agent who will then contact you with quote information.

This is fairly standard for smaller, agent-driven companies, but Pekin is large enough at this point in time that we would expect to see online quoting as an option. This would help potential customers to gather rate information without being subject to repeated solicitation attempts and is really an expected service from an insurance company in the modern age.

Claims

Claims are generally handled directly with providers, and the policyholder should rarely be involved in the process. Pekin does not provide much in the way of claims information for Medicare Supplement plans as a result.

That is about what we expect when it comes to claims for this type of insurance product.

Ratings and Consumer Reviews

Pekin Insurance has been accredited with the Better Business Bureau (BBB) since 1949 and has an A+ rating. There is a total of 14 complaints on file in the past three years. The 12 customer reviews on the BBB page provide an overall 2-star rating. The complaints are regarding unpaid claims, but there are also some positive reviews of the company citing an excellent experience.

There are eight reviews on Yelp, all of them negative for a 1-star rating there. The complaints are generally in regards to claims issues.

Insurance review site Clearsurance has a total of 122 reviews of this company; this larger number of reviews skews much more to the positive than the smaller numbers on other sites. Pekin has an overall 4.15-star rating here, with plenty of happy customers reporting a good experience. There are a few complaints as well, citing high premiums and cancellation of policies after a claim, but the comments here are overwhelmingly positive.

It is worth noting that none of the reviews we read were related to Medicare Supplement insurance, which is clearly a much smaller portion of Pekin’s business than are auto and other property & casualty products. Still, the reviews do provide a picture of the company’s customer service reputation in general.

The Bottom Line

Pekin Insurance has a limited number of Medicare Supplement plans available in several states and does make their rates available to compare on price. This company is most likely to appeal to those that already have other policies in force with them and already know Pekin’s reputation. They do have a good reputation – which may make them worth a look to those who do not mind requesting quotes through an agent and are comparing rates on one or more of the four options Pekin has available.

For a list of companies that we recommend, visit our Best Insurance Companies page.

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About Eric Stauffer

Author: Eric StaufferI am a former insurance agent and banker turned consumer advocate. My priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best place to get it.

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