Anyone Use Cancer Plans in the Senior Market?

[somarco]

Cancer insurance is inexpensive, and you can get your client a 10 year Return of Premium rider; if they do not get cancer - they get all their premiums paid back.

What if they die before they have the policy 10 yrs?

 

[tins]

What if they die before they have the policy 10 yrs?

With GTL's cancer plan ROP rider, they still receive 100% ROP if they die before the term is up.

 

[jvancleve]

What if they die before they have the policy 10 yrs?

Then there is no return of premium. All of the ROP riders I have seen for Cancer Insurance have a time stipulation, 10 to 20 years. Since the insured does pay extra premium for the return of premium feature, probably makes more sense for those who are healthy and age 70 and under.

 

[tins]

Then there is no return of premium. All of the ROP riders I have seen for Cancer Insurance have a time stipulation, 10 to 20 years. Since the insured does pay extra premium for the return of premium feature, probably makes more sense for those who are healthy and age 70 and under.

You may want to look into GTL instead of what you're currently writing. With GTL's ROP cancer plan, if the insured dies of anything non-cancer related, they receive the full ROP that they have paid in to that point.

 

[asher]

If we could stay serious this is a very important thread.
IN FLORIDA is there a good company offering CANCER OR CANCER/CI for over 65?
I experienced more cancer this year with clients 65-80 than ever before. All ended up with tremendous out of pockets due to various needs not covered by medigap/Part D/MAPD/of loss of work.
I want to offer this to everyone walking in my office. I don't care if they buy or not. The need has to be exposed and all have to be aware that these plans are available after 65.
Interestingly those that own AFLAC from work all keep their plans.
If someone has good insight into thses supplementary plans for senior market please advise all or pm me.
There is a need and this is a wonderful opportunity with feel good results.
Hope I get some POSITVE feeedback.
Happy New Year guys and gals!

 

[rousemark]

If we could stay serious this is a very important thread.
IN FLORIDA is there a good company offering CANCER OR CANCER/CI for over 65?
I experienced more cancer this year with clients 65-80 than ever before. All ended up with tremendous out of pockets due to various needs not covered by medigap/Part D/MAPD/of loss of work.
I want to offer this to everyone walking in my office. I don't care if they buy or not. The need has to be exposed and all have to be aware that these plans are available after 65.
Interestingly those that own AFLAC from work all keep their plans.
If someone has good insight into thses supplementary plans for senior market please advise all or pm me.
There is a need and this is a wonderful opportunity with feel good results.
Hope I get some POSITVE feeedback.
Happy New Year guys and gals!

Central United has a decent expense plan.. they go through age 69. I beleive it is issued through an affiliate, Family Life Insurance. I no longer recruit but if you can't contact an IMO for them, then I might be able to give you a contact name.

 

[billyg]

As asked previously to another poster, who is your go-to company or companies for CA or CI for Sr benefits...?

I've been using Constitution Life (Cancer). They are less expensive than Medco and have been fairly easy to work with.

 

[RonRoberts]

I am 67 years old, have Medicare and a Plan F. When I became eligible for medicare, I redid my insurance and dropped the cancer plan I was carrying in Sept. The folloiwing April, I was diagnosed with throat cancer. I had 9 weeks of Chemo and 38 radiation treatments. The medical bills were taken care of but we incurred quite a bit of "extra" expenses.. Daily 120 mile round trips for treatment.. Loss of work for both me and my wife. Here's one people never think of..I lost 60 pounds in just a few weeks .. Had to buy all new clothes.. Now that I have put 30 of it back on, I have had to buy more clothes as the old ones are still too large and the new ones are now too small.. The $21,000.00 the cancer plan would have paid directly to me sure would have helped. You are much more likely to collect off your cancer plan than your auto or homeowners, yet nobody would be without those coverages.

Thank you for this post. I hope you are doing better and wish you the best. I had a neighbor lady in her late twenties/early thirties experience throat cancer and I watched her over a 6 week period dwindle down to anorexic and her husband leave her. What a jerk!

Ron

 

[rousemark]

Thank you for this post. I hope you are doing better and wish you the best. I had a neighbor lady in her late twenties/early thirties experience throat cancer and I watched her over a 6 week period dwindle down to anorexic and her husband leave her. What a jerk!

Ron

Had? Did she not survive? My wife stuck with me through it all but I am sure there were times she felt like bailing. She claims there were times that I was really hateful but I think she is just making all that up because I am really just a sweet, sensitive, soft spoken guy.

 

[RonRoberts]

Had? Did she not survive? My wife stuck with me through it all but I am sure there were times she felt like bailing. She claims there were times that I was really hateful but I think she is just making all that up because I am really just a sweet, sensitive, soft spoken guy.

Sorry for the lack of explanation. She did survive and after a year or so was back very attractive. While going through her divorce she sold her house and moved. That is why I "had" a neighbor. But, that was probably 10 years ago and I saw her not too long ago and she was looking good. Again, I definitely empathize for anyone going through that type of treatment and can only say I pray to the good Lord above that you never have to go through it again.

Ron