NU Online News Service, Jan. 11, 2005, 4:46 p.m. EST

A Carmel, Ind., insurer is introducing a new insurance product aimed at consumers who have Medicare.[@@]

The insurer, Conseco Inc., says that, in most states, the new Medicare supplement insurance product will provide standard, preferred and preferred plus rate tiers.

The Medigap product also will offer separate rates for men and women, a 1-year rate guarantee, and the ability for customers to pay the initial premiums through electronic bank drafts.

Medigap product purchasers will get free access to a pharmacy discount program.

Consumers can submit applications through the Web as well as through mail or facsimile machine transmission.

Conseco is writing the new Medigap product through its Conseco Insurance Company unit.