Cancer Plans - Love Them Or Hate Them?

[jtow11]

Your thoughts, and is there an age/premium sweet spot for them? If you sell them, who do you like to use?

 

[rousemark]

Your thoughts, and is there an age/premium sweet spot for them? If you sell them, who do you like to use?

Most receptive seem to be the 40+ middle income females but almost everyone is a prospect. I have used CUL, Wash Nat, and UNL over teh past year. Wrote one with Cigna and found out I had been mislead on the commission rate by the IMO. (don't think it was intentional, but even if it was, I should have caught it before I signed the contract ) so I haven't used them again.

 

[NIAMAN]

I prefer to sell Lump sum Cancer/CI plans, due to the simpler, one-time to file a claim process. The pay for treatment plans will work you over trying to get all the paperwork needed from different Drs. , radiology, pathology, etc. You can file on 42 prostrate radiology treatments and all the other incidentals, and they probably won't get more than a 10,000 lump sum. Clients tend to want their money, and you are assisting in 3-5 claim filings instead of one, and the paperwork for it is a pathology report and diagnosis. I am a one man operation, and I am learning the KISS rule the hard way !

 

[rousemark]

I prefer to sell Lump sum Cancer/CI plans, due to the simpler, one-time to file a claim process. The pay for treatment plans will work you over trying to get all the paperwork needed from different Drs. , radiology, pathology, etc. You can file on 42 prostrate radiology treatments and all the other incidentals, and they probably won't get more than a 10,000 lump sum. Clients tend to want their money, and you are assisting in 3-5 claim filings instead of one, and the paperwork for it is a pathology report and diagnosis. I am a one man operation, and I am learning the KISS rule the hard way !

I like to write a treatment plan with a lump sum paid up front. As to which will pay the most depends on the type treatment you have. I had a total of 53 radiation and chemo treatments was never in the hospital..The treatment plan I prefer to write would have paid around $36K in benefits. But, my daughter's best friend spent a total of almost 6months in the hospital.. 68 days in one stay. A decent treatment plan would have paid her around $100K. On the other hand some people would draw very little from a treatment plan. When it is all said and done, both plans are going to pay out about the same per dollar of premium paid. After all, the premiums are based on the same commission rates, loss ratios and expense loads.