Cancer Insurance for Seniors? Need Sources

[hardwork]

I have seen my share of cancer policies over the past 20 yrs,generally not lump sum.The one's that have collected (and that is not many) will never drop them.
I like meeting the one's that have not collected ! It's kinda like meeting a healthy Bankers Life Med supp policy holder

 

[ronmelton3]

Why would you sell a Cancer policy to seniors? If they have Medicare and a Med Supp there is no logical reason for them to also pay a premium for Cancer Insurance..

I agree with Frank, it's like buying car insurance with no deductible. Unless you are expecting a claim it makes no sense. But that being said, a cancer plan can help pay the donut hole for those drugs coverd by Part D.
A cancer plan is a viable option for MA plans if the premium is cheap enough. I sell GTL Advantage Plus plan to supplement a MAPD plan. It is a Hos. indemity and has a cancer rider. I would think it's sold in FL.

 

[peace]

Does anyone know of a good Cancer insurance policy for seniors?
If you know of one available in the State of Florida - even better!

Thank you.


Sam

Hi, Sam,

I work with Penn Life (Universal American) in GA and we have a Lump Sum supplement that pays up to 30K in GA. I think it pays up to 50K in NC. I could ck out Florida if you would like.

 

[thall]

Why would you sell that kind of junk to anyone? Look for a good CI policy.

 

[dlj2626]

One thing I was able to do at my time with Liberty National was help people with cancer claims. Liberty National actually was great when it came to paying claims. However, you must be captive with them and they do not have one for seniors.

I am pretty sure that Equitable Life and Casualty has one for seniors. Thats about the only one I can think of off the top of my head

On another note, Lebron and Dwayne Wade will not co-exist in Miami.

 

[insresearcher]

First, Frank tries to tell me what to sell. Now, Paul tries to tell me what to think. How old is this group, anyway? Too old to think clearly or too ineffective to contribute except for what you consider to be constructive criticism. If you don't have anything to contribute, why waste your otherwise-productive time babbling about?

Thanks to those that are posting about the topic of the thread.
It is much appreciated.

Wow if you can't take the forum...then GET OFF IT! Clearly it is not for everyone....lmao

 

[agent0317]

When you get cancer....and your bills are paid by your medicare, and supp, but you find there are often other cost and options, like travel to a alternate location for superior treatment, or drugs that are experimental,
you may be glad to have the cancer policy.
GTL may have it in your state.

 

[steveadlman]

Continental Life has a very good cancer policy and it is offered to seniors. It pays a lump sum benefit once a person is diagnosed with cancer.

 

[medx]

I remember Freedom Life back in the 90's

 

[Ken Westphal]

Because they DO ask for it. If they ask for final expense, I sell them that, too. If enough of them asked for auto insurance, I'd bring that to the table, as well.

I did not ask for criticism, or even your opinion. I asked for resources from those who know.

A big difference on that though is that the insurance experts on this forum would all probably agree there is often a need for seniors with Final Expense and Auto coverage.

Do you feel that seniors need a cancer plan in addition to their Medicare & supplement or MA plan? If so then have at it, but if not then it is your job to educate the senior on why they may want to reconsider that purchase.

Seniors often do not know what their current coverage will provide for, and that may cause them to desire a product they do not need or that is not appropriate to their situation.

Suitability is important.
- - - - - - - - - - - - - - - - - -

I sell it when asked and they are already convinced that they want it.

I only offer lump sum payment type of plans. Simple to explain and simple to claim on.

The hottest one I've sold tons of in the past is Kanawha's (now Humana) lump sum plan. In MO and some other states it has a 20 year pay option and if you pair that with the ROP option (like I have on my own plan) you basically pay for the insurance for 20 years, get a 100% refund, then you're insured for life paying NO further premiums. No decrease in benefits either.

My understanding is that Kanawha/Humana won't have this available in FL for quite some time due to issues with their filings. They are working to get a CI plan that would also cover cancer, but even that may be early next year at the earliest.