GTL Platinum Plan

[Fisher]

I don't mess around with limited benefit/indemnity plans but I uncovered this at a recent client meeting and would like input from you all. This product only pays out for cancer, heart attack and stroke. The brochure is attached below.

The guy has himself (47), his wife(43) and daughter(13) on the plan for 170.35/ month. Policy effective 9/2/2010. He's not concerned about major medical because, as he says, "Just about everybody we know that has died has died from cancer, heart attack or a stroke." (I know, I know...)

The ROP feature after 15 years is what he's MOST excited about in the whole thing.

Any product out there that I should look at to better his exposure on this? It'd be cool if there is because a Combined-like team went through this rural area and wrote of bunch of these.

Case is in Missouri.

As always, thanks.

 

[STIBROKER]

He's not concerned about major medical because, as he says, "Just about everybody we know that has died has died from cancer, heart attack or a stroke."

Yea but he can not get into a hospital with this alone without a major med......... Cash Before Chemo | TX HEALTH INSURANCE

 

[somarco]

Why even bother?

This guy knows more than you do and will not buy what he really needs.

 

[Fisher]

Why even bother?

So I can reposition some 'saved' funds into his life insurance. (I'm not trying to sell him health coverage.)

 

[rousemark]

I don't mess around with limited benefit/indemnity plans but I uncovered this at a recent client meeting and would like input from you all. This product only pays out for cancer, heart attack and stroke. The brochure is attached below.

The guy has himself (47), his wife(43) and daughter(13) on the plan for 170.35/ month. Policy effective 9/2/2010. He's not concerned about major medical because, as he says, "Just about everybody we know that has died has died from cancer, heart attack or a stroke." (I know, I know...)

The ROP feature after 15 years is what he's MOST excited about in the whole thing.

Any product out there that I should look at to better his exposure on this? It'd be cool if there is because a Combined-like team went through this rural area and wrote of bunch of these.

Case is in Missouri.

As always, thanks.

Let me say that I do believe in a supplemental cancer insurance, with the emphasis on the word "supplemental" to help pay out of pocket non medical expenses. But to depend on that alone is just plain foolish. First of all, there are a lot of chronic conditions that are not covered by that plan. One that comes to mind is renal failure that requires dialysis.

If they have cancer or heart problems, just how much will that plan by itself leave them in the hole? My heart attacks and open heart surgery ran $100,000+. The 9 weeks of chemo and the 38 radiation treatments for my cancer cost150,000+. Some treatments were $7,000 each. And, even now, with regular checkups by the oncologist, the radiation oncologist and the regular testing, my expenses run around $500 per month and the GTL would not pay any of that..

 

[Fisher]

Appreciate the replies but everyone's completely missing the point. I am WELL aware of all the downfalls of this type of 'coverage'. You guys are preaching to the choir.

Was just wondering if there was anything cheaper. With ROP.

 

[STIBROKER]

Appreciate the replies but everyone's completely missing the point. I am WELL aware of all the downfalls of this type of 'coverage'. You guys are preaching to the choir.

Was just wondering if there was anything cheaper. With ROP.

I know what your question is and can not answer because I also do not market these.....but does he have health insurance out of curiosity....

 

[Fisher]

.....but does he have health insurance out of curiosity....

Nope.
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[STIBROKER]

Nope.
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sounds like you do not have a smart client to begin with....does he have life insurance.....and I would ask him of who else he knows who have the same GTL plan....maybe they have both and are smart enough to drop it and put funds toward life insurance......

 

[Fisher]

I've already got the guy's life insurance, Scott. My objective is to add to it.