amerchant7
Expert
- 27
Dignity could you send me that link? I do a good bit of cancer bus. Mostly in the 30-50 age range.
Anyone Use Cancer Plans in the Senior Market?
- Thread starter dignitylmg
- Start date
- 16,887
I don't agree. If I die I don't really leave any financial problems behind. If I live but am sick and can't work, I am a financial burden AND interrupt my wife's ability to work.
I carry $200,000 CI on me plus disability.
- 11,280
Well it might make more sense for someone still working and on major medical. For retired seniors on Medicare and a med Supp I don't see the need for a cancer plan.
I can see a benefit to a cancer plan for seniors. Some of the meds are not on the formulary. The ones that are would push you in to the donut hole and beyond. Also may be a need for home health assistance, etc.
A lump sum CI or possibly a cancer plan can take care of incidentals.
Never was a big fan of these products until I had some clients go through a lot of their own money for treatment and care not covered by major med.
A lump sum CI or possibly a cancer plan can take care of incidentals.
Never was a big fan of these products until I had some clients go through a lot of their own money for treatment and care not covered by major med.
Unless they happen to want one... folks are motivated by fear, and many at this age are fearful of the possibilities of the big C, and the potential consequences that comes along with this dreaded disease.
I think as an agent, it is wise or commendable to mention that this type of product exists for them... and if there is a desire for such coverage, they will ask more questions... if not, then move on. AND then sell that FE policy.
Or, why not BOTH, as Deion used to say.
- 11,280
Cancer meds are covered by part B of Medicare. I still don't see the need for a cancer plan when on Medicare and a supplement.
- 14,809
Before selling a cancer plan, please get the policy. The WSJ did a fantastic article on cancer plans. Wish I could link to it but it's behind their pay wall now.
Like anything, some products are better than others. Some are much better.
There are cancer plans to avoid. They only pay the full amount on "life threatening" cancer. Tough to define, which is what they count on.
Then there's a list of cancers it doesn't cover. I find that odd. Here's our "cancer plan" now let's talk about the cancers we don't cover. Ironically, the list is comprised of the most serious forms, suck as leukemia. So, "only pays for life-threatening cancer" then provides a list of life-threatening cancers that don't quality.
Again, throw the brochure in the trash and make sure you actually get the policy.
Like anything, some products are better than others. Some are much better.
There are cancer plans to avoid. They only pay the full amount on "life threatening" cancer. Tough to define, which is what they count on.
Then there's a list of cancers it doesn't cover. I find that odd. Here's our "cancer plan" now let's talk about the cancers we don't cover. Ironically, the list is comprised of the most serious forms, suck as leukemia. So, "only pays for life-threatening cancer" then provides a list of life-threatening cancers that don't quality.
Again, throw the brochure in the trash and make sure you actually get the policy.
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- 11,280
Unless they happen to want one... folks are motivated by fear, and many at this age are fearful of the possibilities of the big C, and the potential consequences that comes along with this dreaded disease.
I think as an agent, it is wise or commendable to mention that this type of product exists for them... and if there is a desire for such coverage, they will ask more questions... if not, then move on. AND then sell that FE policy.
Or, why not BOTH, as Deion used to say.
The FE policy would definitely be sold before cancer ins....
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