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Cancer Insurance

joshril

Guru
1000 Post Club
I met with a broker from Merril Lynch today that is going to refer me some business. His minimum client amount is $250,000, and he told me that many of them self-insure on the health side. However, 25-30% of them ask him about cancer insurance, and he wants to send the referrals my way. Anyway, I was wondering about which carriers any of you that sell cancer liked to write business with and why?
 
I'd like to know also. I know conseco has been pushing thier cancer plan but I have not looked into it.

Colonial has an excellent cancer plan. Find a Colonial agent in your area and they will do a split with you. Or get an appointment with Colonial. One item, Colonial does NOT seek out the individual market. You can write it, but their bread/butter is the 30+ life group.

BTW, Colonial is a wonderful company to write for... and to be insured by. They really treat their agents and customers like gold.

Al
www.insurancesolutions123.com
 
His minimum client amount is $250,000, and he told me that many of them self-insure on the health side.

That's foolish.

They should at least buy a plan with a $25,000 deductible.

That is comprehensive, unlike the cancer (or other dread disease plans) that only cover one thing. Even then, they only pay if you have certain kinds of cancer.

If you opt for a cancer, or critical illness (better option) plan, look for one that is a health insurance policy (not life) and pays a lump sum on first diagnosis. MoO has one of the better ones.
 
That's foolish.

They should at least buy a plan with a $25,000 deductible.

That is comprehensive, unlike the cancer (or other dread disease plans) that only cover one thing. Even then, they only pay if you have certain kinds of cancer.

If you opt for a cancer, or critical illness (better option) plan, look for one that is a health insurance policy (not life) and pays a lump sum on first diagnosis. MoO has one of the better ones.

Who is MOO?
 
That's foolish.

They should at least buy a plan with a $25,000 deductible.

That is comprehensive, unlike the cancer (or other dread disease plans) that only cover one thing. Even then, they only pay if you have certain kinds of cancer.

If you opt for a cancer, or critical illness (better option) plan, look for one that is a health insurance policy (not life) and pays a lump sum on first diagnosis. MoO has one of the better ones.

I agree.. but I don't want to insult him or his clients. If I can get into the door with cancer than I can give them some other options. If they choose not to purchase a high deductible plan and insist on cancer.. I can still sell it to them. I didn't ask for opinions, just what companies you all had experience with.
 
There are a couple of options in regards to cancer plans. Option 1 is a plan like Aflac or Combined, where you get a certain amount per procedure and it's ongoing. Option 2 is a lump sum benefit which I am a bigger fan of. It pays the face amount upon diagnosis.

Something that I always hope would never happen happened to me over the weekend. It happened to one of my clients, husband and wife both in their early 50's. The wife was diagnosed with Kidney cancer in February of this year, I been speaking with both the husband and daughter off and on throughout the series of treatments. The daughter called me crying one afternoon saying that watching someone you love suffer through this type of cancer is one of the worst things that you can go through. The husband has always been strong though this, taking it better than I would.

Anyway, I got a call from the husband yesterday, saying that his wife of 30+ years passed away on Monday. He said it was the worst thing he ever had to go through, but not seeing her suffer anyone is a big relief.

The health insurance plan I had them on covered everything after deductible, he asked my jokingly, why did you not sell us any life insurance at the time? We kind of laughed and I said, because nobody ever really wants to talk about it!!

The bottom line is this business is fun, rewarding and can be depressing at the same time. This client told me throughout that he never had an agent really follow up or take interest when it comes to claims or treatment or their well being. He said he really appreciates all I have done. It just makes you feel good at times like this, even though you deep down inside feel terrible.

And yes, in regards to this post, cancer is real, no one ever really knows when it will hit and you better have a plan or plans that will protect you financially!!
 
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