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About the Greek Catholic Union
The Greek Catholic Union was formed in Wilkes-Barre, PA in 1892, bringing together 14 lodges connected to the Greek Catholic Church. The Union was created with the purpose of providing financial protection to members of the church who could not obtain life insurance, many of whom worked in dangerous occupations, providing support in the event of injury or death.
Membership in the Union was previously limited to members of the Greek Catholic Church and to people of specific nationalities. In 1979, the rules were changed to open membership. In order to become a member, you must have an annuity with the organization with a minimum balance of $300, or hold a life insurance policy in force. The website states that term life policyholders have limited access to membership benefits. No other requirements for membership are currently listed.
Members can purchase a variety of insurance products as well as receiving benefits including discounts and financial assistance. Insurance products are sold through agents, but the membership requirement products must be purchased before other policies can be issued. This differs from some other fraternal organizations, where the purchase of any product provides membership status. Membership is available across the United States at more than 1000 member lodges.
As previously mentioned, before you can purchase Medicare Supplement products from the Greek Catholic Union, you must have the required annuity or life insurance in force and be a member.
The Greek Catholic Union offers four Medicare Supplement policies, A, G, F, and N. All follow the standardized coverage requirements, starting with Plan A. This is the base plan and covers coinsurance costs for medical, hospital, and hospice, along with the first three pints of blood each year.
Plan F is the plan that offers the most coverage. It pays for all coinsurance and deductibles for Parts A and B, and also includes coverage for all other extra expenses, and even foreign travel emergency.
Plans G and N offer two middle-of-the-road coverage packages, often selected to get more coverage than A at a lower price than F. There is no indication that they offer the high deductible Plan F, which provides all the coverage of the original plan but has a deductible in return for reduced monthly premiums.
Although online quoting is not available for these policies, the website does offer some sample rates. The samples given are for a 70-year-old female non-smoker living in zip code 15009, and a male with the same age, smoking status, and location.
The female is quoted at $154.45 for Plan A, and $189.17 for Plan F. The male quote is $173.87 for Plan A and $213.80 for Plan F.
Since these quotes aren’t based on the same sample or location we use for our comparison rates, we can’t draw a solid conclusion as to how the rates stack up. That said, although the Greek Catholic Union promises low rates, these seem high based on what we have seen elsewhere.
It should also be noted that because of the membership requirements, the cost of the life or annuity policy must be added to the total monthly premiums due to the organization. Should you already have one of these policies or were planning to purchase them otherwise, that may not affect your decision.
Ratings and Reviews
The Greek Catholic Union has an A+ rating on the Better Business Bureau. There have been no complaints filed in the past three years.
Not surprisingly, there are few reviews to be found elsewhere regarding this company. On Facebook they have a 4.8 star rating based on 10 reviews. None of those reviews appear to pertain directly to products or services from the consumer perspective. As a fraternal organization, this sort of group tends to attract members who are seeking a group that is in accordance with their values. As a result, it’s unusual to see them reviewed in the same way that a regular insurance company would be.
The Bottom Line
The Greek Catholic Union is best for those who are drawn to the company’s values and want to be a member of a fraternal organization. Since access to Medicare Supplement is based on having other policies with the organization, most people seeking just a Medicare Supplement policy will want to look elsewhere.
For a list of companies that we recommend, visit our Best Insurance Companies page.