supersupps
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does anyone exclusively market cancer plans or was that just back in the day? what is the market? any money to be made?
Cancer Plans??
- Thread starter supersupps
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There are still people doing it and making money at it. I think Family Heritage is still working the crew system and canvassing from door to door with a ROP cancer product.
They say the market is anyone who has never had cancer..but the most receptive age group is 40- 50 year old.. Women tend to be a bit more receptive than men but men will most definitely buy it.
One thing about it is that everyone knows someone who has or has had cancer and people think it is getting to be more and more prevalent. There si not a Sunday that goes by that someone in our small church does notrequest prayer for a person who ahs just be diagnosed. When I was diagnosed with throat cancer, there were 4 other fellows in my group of personal aqauitances that were diagnosed with the same cancer within a period of about two months.
Some folks don't believe in cancer plans.. I do. And, if I had my career to do over, I would probably would have never changed from concentrating my efforts in that market.
As for money to be made, the average commission per policy is around $350 per application first year and $100 per year for the life of the policy after the first year. When you consider the fact that the market is much broader than that for many products in that you can write it on folks 18-85 (depending on the company) and that anyone who has not had HIV or internal cancer (last 10 years with most companies) there is a possibility to make a very good living selling cancer plans.
It is a simple, uncomplicated one call sale. Some describe it as a true salesman's product.
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supersupps
Guru
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salesman as in final expense? that I dont like bec I feel it is overpriced. how do people find people interested in this product? and what are the premiums for this?
When you see people get their check or someone you know was helped then it is not over priced. ALso depends on the company. Some are reasonable I believe in it when I saw my own father get his 50 thousand dollar check in 1992. It covered everything that insurance didn't. It paid the mortgage, utilities, groceries, car payments etc. Within two months of his diagnosis he wasn't working. No work = no money. That 50k was equal to his salary and covered my parents bills until his death 6 months later and then the life insurance kicked in.
People ask about the presntation.. I use a 5 page presentation.. This is the entire content of one page that I use to illustrate the points you have just made.
60% of the cost of treating cancer is non medical expense not covered by even the best of medical insurance plans
Loss of Income
Deductibles
Coinsurance
Child Care
Transportation Special Diets
62% of all bankruptcies are due to medical expenses
When you or a family member are stricken with cancer, where will you get the money to pay your regular monthly bills plus all the additional expenses?
My brother collected a sizeable check when his wife died from cancer. I have a good friend that I wish had a cancer policy.
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Why would someone recommend a cancer plan vs. critical illness?
Rick
Rick
Good question. I would say it would be cost and underwriting. Rick, what critical illness policies do you like?
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