Is Selling Critical Illness or Accident Insurance Worth It? Why/why Not?

caesarnemo

New Member
2
Hi guys I'm a new health insurance broker and considering adding critical illness and/or accident insurance to my product offerings. The way I see it I have three options:

1) Try to sell it directly perhaps as a rider on a primary health policy.

2) Try to work out an affiliate deal with an online marketplace like ehealth.com to get commission from each policy sold through my referral.

3) Not offer accident or critical illness at all and focus on my primary policies.

I recently read this on the OptimaRe website about the benefit of critical illness and how its one of the fastest growing categories in insurance commissions:

"Critical Illness sales are growing faster than nearly any other insurance product. The reasons for this are many, but clearly one of the drivers for demand would be increased health insurance pressures caused by more employers moving to high deductible health plans (HDHPs) and employees acting to plug the gaps in their health coverage."

In other words why or why not are you selling accident or critical illness insurance?

Thanks,

Caesar
 
Hi guys I'm a new health insurance broker and considering adding critical illness and/or accident insurance to my product offerings. The way I see it I have three options:

1) Try to sell it directly perhaps as a rider on a primary health policy.

2) Try to work out an affiliate deal with an online marketplace like ehealth.com to get commission from each policy sold through my referral.

3) Not offer accident or critical illness at all and focus on my primary policies.

I recently read this on the OptimaRe website about the benefit of critical illness and how its one of the fastest growing categories in insurance commissions:

"Critical Illness sales are growing faster than nearly any other insurance product. The reasons for this are many, but clearly one of the drivers for demand would be increased health insurance pressures caused by more employers moving to high deductible health plans (HDHPs) and employees acting to plug the gaps in their health coverage."

In other words why or why not are you selling accident or critical illness insurance?

Thanks,

Caesar
Because no one has sold me on it yet. Must not be a very big override in it or a recruiter wouldv'e come up with a turn key marketing system by now.

You need to call up the carriers and find out who the top producers are and take them out to lunch to pick thier brain.

I know Assurity has a good training program on it, but as far as an actual "marketing system", all I heard of is the coversation starter, "Who do you know who's had cancer?"
 
Last edited:
I add CI and accident on very policy. Just keep it in their budget and explain the benefits. You will make more selling supplemental than on actual health. I have both CI and accident for my family and over the last few years the accident policy has paid out well over 4k in benefits (accident policies are great for kids ... been the ER several times with broken bones and the accident policy really came in handy).
 
Last edited:
Qualifying for some of the supplemental policies (Cancer insurance lump sum, Critical illness lump sum, etc.) is virtually impossible. Some policy apps. ask if you have EVER had treatment for ANY medical condition. Almost no one would qualify for those policies. Most of the apps are written with eligibility questions that are wordy, unnatural, and overarching like that. Where someone might think they qualify, but find out down the road that they were paying for nothing.
 
Its good to have in your arsenal.
I've ran into a few individuals who swear life insurance is bad, but take favor to a stand alone CI policy.
 
Hi guys I'm a new health insurance broker and considering adding critical illness and/or accident insurance to my product offerings. The way I see it I have three options:

1) Try to sell it directly perhaps as a rider on a primary health policy.

2) Try to work out an affiliate deal with an online marketplace like ehealth.com to get commission from each policy sold through my referral.

3) Not offer accident or critical illness at all and focus on my primary policies.

I recently read this on the OptimaRe website about the benefit of critical illness and how its one of the fastest growing categories in insurance commissions:

"Critical Illness sales are growing faster than nearly any other insurance product. The reasons for this are many, but clearly one of the drivers for demand would be increased health insurance pressures caused by more employers moving to high deductible health plans (HDHPs) and employees acting to plug the gaps in their health coverage."

In other words why or why not are you selling accident or critical illness insurance?

Thanks,

Caesar

There have long been agents that make a very good living selling nothing but cancer insurance, critical illness or accident coverages.
 
My top agent sells accident, CI and dental etc with almost every sale. So do I. With today's restricted networks and a gauntlet of bureaucracy between the insured and their coverage, these products are essential.

If you want to learn how, pm me. My team is the dream team spin-off of the agency/fmo that bought starmount, nhic, and the supplemental benefits side of Assurant, all of which we have incredible comp and training for.
 
Have no idea what heath insurance (MM) pays these days but the average first year commission on cancer polices seems to be around $400FYC with a lifetime renewal of around $92 per year.. CI is even more. Cancer premiums are affordable for most families and there is a great deal of interest in them as cancer is receiving more publicity with each passing day. There are now cable channels that run several hours of programing talking about cancer each week.

Accident plans have always been popular, especially at this time of year when people kids are involved in school sports. There should always room in a health or supplemental agent's kit for for an accident plan like Washington National that has no occupational restrictions and is virtually guaranteed issue. Very simple no health question app that doesn't require the spouse signature or the children's SS numbers. Administratively, very easy to sell to small business owners and workers on the job site on an individual bank draft basis.
 
Back
Top