Selling Cancer Insurance

Most, if not all of the drugs mentioned in that article are Part B claims.

Unless you have a lump sum cancer plan, most of the scheduled plans won't be of much help.

Which carriers offer cancer insurance to those 65+?
 
Read this article recently in the Times and thought it was a strong argument for why seniors on fixed income need cancer insurance:

A Hospital Says ‘No’ to an $11,000-a-Month Cancer Drug - NYTimes.com

Anyone have good success selling cancer insurance? Please share your thoughts and tips. Thanks.

There will be many agents that will say they don't believe in cancer insurance but I do.. even more so after having cancer. If I were to start my career over (I have been doing this 41 years), I would seriously consider doing nothing but cancer coverage.. Pays a good first year commission and. with many companies, lifetime renewals. Couple that with very good persistency, you will find there is money to be made.

Many plans are lump sum plans but I prefer the expense incurred plans with a lump sum rider. The presentation and the underwriting are simple and the plans are quick issue. In the past most companies did not write new business past age 65 but there are companies now that will go to 85. If they have never had internal cancer or melanoma, they qualify with most companies. Some even limit that to a 5 or 10 year look back.
 
I am looking at selling senior insurance products in NC. Any thoughts of captive or independent agencies that are honest?
 
Most, if not all of the drugs mentioned in that article are Part B claims.

Unless you have a lump sum cancer plan, most of the scheduled plans won't be of much help.

Which carriers offer cancer insurance to those 65+?

Equitable Life and Casualty and United National Life do. The Equitable product may also be written on Heartland paper but I am not sure about that. GTL has a lump sum overage product. CUL will go to 69.
 
Sold tons of lump sum cancer products over the years. Kanawha, not Humana, was my first exposure. Now we carry GTL, UNL, Medico, Humana, etc.

Personally I believe more in lump sum than any other. If you're fighting cancer you don't want to fight for your money with multiple claims. Lump sum is easy, one claim, one check.

In MO the Humana/Kanawha product has a 20 pay and ROP feature. That is what we have on my personal plan. 20 years without claim = 100% refund and paired with 20 pay = insured for life at $20k for cancer for free.
 
Sold tons of lump sum cancer products over the years. Kanawha, not Humana, was my first exposure. Now we carry GTL, UNL, Medico, Humana, etc.

Personally I believe more in lump sum than any other. If you're fighting cancer you don't want to fight for your money with multiple claims. Lump sum is easy, one claim, one check.

In MO the Humana/Kanawha product has a 20 pay and ROP feature. That is what we have on my personal plan. 20 years without claim = 100% refund and paired with 20 pay = insured for life at $20k for cancer for free.

For some reason TN doesn't seem to want to approve ROPs.
 
Cancer insurance???...great product unless

...you have a heart attack...or an accident....or Krohns...or Parkinsons...or Dementia...or etc..or etc...or etc...

Folks...Cancer Insurance is a complete rip off...Any critical medical issue is costly...not just cancer.:no:
 
Cancer insurance???...great product unless

...you have a heart attack...or an accident....or Krohns...or Parkinsons...or Dementia...or etc..or etc...or etc...

Folks...Cancer Insurance is a complete rip off...Any critical medical issue is costly...not just cancer.:no:

You are entitled to your opinion but as a cancer survivor, I totally disagree.

1st, we are talking about cancer insurance in place of a major med but in addition to it.

2nd. Some people can not qualify for or afford the premium ofr a CI policy that covers Heart, Stroke, etc. in addition to their major med but might well be able to afford the premium for cancer.

3rd. I have had heart attacks and open heart surgery and I can tell you my cancer treatment was much more costly even though with the cancer, I didn't spend a day in the hospital.

4th. The non med out of pocket expenses can be quite high. With the heart surgery, I was out of work for 4 weeks. With the cancer, it closer to 4 months. There were every day trips to the doctor's and clinics for treatment. Many involved a 120 mile round trip. One expense I had never thought about was clothing. I lost 75 pounds during treatment.. went from a 38 waist to a 30... Had to buy all new clothes.. Now I have gained back 40 pounds and the big clothes are still to big and the small clothes are too small so had to buy some more.

All I can say is I hope you don't have to learn the value of a cancer plan first hand. It might look different to you at that point.
 
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