JUST Got Licensed! Selling Cancer Insurance with Return of Premium

afrench2

New Member
9
Hi everyone!

I just officially got my license from the Texas dept. yesterday. I am so excited! I think everyone needs Cancer insurance and it's a personal story for me and my family.

Now that I can help other families I am extra motivated. Any tips for newbies!? Cold-calling tips would be appreciated.
 
Hi everyone!

I just officially got my license from the Texas dept. yesterday. I am so excited! I think everyone needs Cancer insurance and it's a personal story for me and my family.

Now that I can help other families I am extra motivated. Any tips for newbies!? Cold-calling tips would be appreciated.

Move on to a real insurance product or get used to eating rice and beans for every meal.

Generally speaking, cancer insurance does not cover that much. Especially considering the prices charged for a "decent" policy.

The majority of people do not have Disability Insurance. The majority do not have adequate Life Insurance. Those two things should be fully covered before purchasing ancillary coverage such as Cancer Insurance.

The only "decent" cancer policies are actually Critical Illness Policies that cover multiple diseases, including Cancer. However, the ones that include cancer are not cheap and often a hard sell because of price.

You will go broke (or stay broke) exclusively selling supplemental insurance of any kind (I know this from experience). Move on to major line products if you want to make real money.
 
Last edited:
Hi everyone!

I just officially got my license from the Texas dept. yesterday. I am so excited! I think everyone needs Cancer insurance and it's a personal story for me and my family.

Now that I can help other families I am extra motivated. Any tips for newbies!? Cold-calling tips would be appreciated.

My advice speak with rousemark here on this forum. He also is a believer in cancer policies and a cancer survivor.
 
Move on to a real insurance product or get used to eating rice and beans for every meal.

Generally speaking, cancer insurance does not cover that much. Especially considering the prices charged for a "decent" policy.

The majority of people do not have Disability Insurance. The majority do not have adequate Life Insurance. Those two things should be fully covered before purchasing ancillary coverage such as Cancer Insurance.

The only "decent" cancer policies are actually Critical Illness Policies that cover multiple diseases, including Cancer. However, the ones that include cancer are not cheap and often a hard sell because of price.

You will go broke (or stay broke) exclusively selling supplemental insurance of any kind (I know this from experience). Move on to major line products if you want to make real money.
Well I sell:

Accident
Heart
Cancer
Life
Child Life

Is that bad? Are those bad insurances? I love Cancer Insurance!
 
Got Licensed Yesterday! Selling Cancer Insurance with Return of Premium

Hi everyone!

I just officially got my license from the Texas dept. yesterday. I am so excited! I think everyone needs Cancer insurance and it's a personal story for me and my family.

Now that I can help other families I am extra motivated. Any tips for newbies!? Cold-calling tips would be appreciated.
 
Well I sell:

Accident
Heart
Cancer
Life
Child Life

Is that bad? Are those bad insurances? I love Cancer Insurance!

It depends on your definition of "bad". Generally speaking, no type of insurance is bad. But some types are more important than others. And some carriers are more competitive than others.

If someone actually has proper coverage for Life & DI, then a Critical Illness Policy can make sense (a person has a much greater likelihood of using a CI policy over a standalone Cancer Policy)

And some people just feel strongly about those types of policies (usually the ones who cant afford them or cant pass underwriting).

It sounds like you work for Aflac or Colonial Life.

Are you cold calling businesses or individuals? Big difference between the two markets.
 
My advice speak with rousemark here on this forum. He also is a believer in cancer policies and a cancer survivor.

I second your comment. Would you happen to be able to give op the thread where they put up the link to that interview rousemark did? I think that would be great for op to hear and don't know how to go back and find it.

----------

It depends on your definition of "bad". Generally speaking, no type of insurance is bad. But some types are more important than others. And some carriers are more competitive than others.

If someone actually has proper coverage for Life & DI, then a Critical Illness Policy can make sense (a person has a much greater likelihood of using a CI policy over a standalone Cancer Policy)

And some people just feel strongly about those types of policies (usually the ones who cant afford them or cant pass underwriting).

It sounds like you work for Aflac or Colonial Life.

Are you cold calling businesses or individuals? Big difference between the two markets.

In the interview I referenced, I believe greensky commented that he believed the same way in regard to the utility of critical illness insurance vs the utility of cancer insurance until he heard all the things rousemark has to say about cancer insurance.
 
Re: Got Licensed Yesterday! Selling Cancer Insurance with Return of Premium

Hi everyone!

I just officially got my license from the Texas dept. yesterday. I am so excited! I think everyone needs Cancer insurance and it's a personal story for me and my family.

Now that I can help other families I am extra motivated. Any tips for newbies!? Cold-calling tips would be appreciated.

I am a cancer survivor and agree with you about the need. However, I seldom offer the Return of Premium. With most companies, it isn't a very good buy. You didn't say who you are selling for but you have a Texas company that has a good cancer plan with immunotherapty coverage which could be really important to your client. Feel free to PM me for my phone number if you want to talk about things..I don't recruit so you don't have to worry about that.
 
Re: Got Licensed Yesterday! Selling Cancer Insurance with Return of Premium

I met with an old co-worker of mine, from a different industry. Was practicing my sale with her, she didn't buy - but she spent like an hour with me just talking about the product.

Her mom got Cancer at age 41. Like anyone else, the family was shocked - that's quite young - and they had good Insurance. Well Cancer has a way of not being like the Flu where it takes 5 to 7 days. Her mom had it for 2 years. A lot happens in 2 years. In fact, her dad got let go from his nice corporate Loss Prevention position - they lost their income in the middle of Cancer.

My prospect ended up telling me, they sold the 401k the dad had for 20 years - they downgraded their home. They were a middle-class couple with the 1 kid out of the house ready to start saving and settling down.

Well, she beat cancer. But guess what - now they're broke. It's funny how everyone raves about Major Medical Insurance. Yeah, they had it to. Odd how that works out.

Major Medical doesn't pay for:

Wardrobes
Travel to non-crappy facilities (Cancer treatment is life and death)
Daily Chemo
Daily Hospitalization
Lump Sum at the occurance of Cancer

And even the mediocre Riders or add-ons to Major Medical that some folks get through their employer for like $20 a month added, even those don't cover SKIN CANCER usually.

Really nice to think you're all taken care of and then get Skin Cancer and come to find out your entire Cancer or Major Medical is useless to you because they only cover Internal Cancer.

Hopefully y'all get the idea. That's why I'm motivated about Cancer.
 
In the interview I referenced, I believe greensky commented that he believed the same way in regard to the utility of critical illness insurance vs the utility of cancer insurance until he heard all the things rousemark has to say about cancer insurance.

My initial thought is it would not apply to CI Policies that include Cancer as a Covered Illness.

Its simple math, more illnesses covered.... including cancer, equals a higher likelihood of use.

But Ive certainly learned a good bit from Rousmark over the years. So perhaps his interview will change my viewpoint.


There are some distinct differences. Cancer insurance is more "treatment based" when it comes to benefits paid. CI is usually a set lump sum based on if you have it or not. Sometimes it is based on severity with certain diseases. But generally speaking, CI pays a lump sum or series of installments, if you have the disease, you get the max benefit automatically. Cancer pays based on a lot of different variables.

So not only is it more likely to be used, but it is more likely to provide a higher benefit amount (since the policy max is automatically paid with CI).
 
Back
Top