Cancer Plans??

"Originally Posted by JimmyUt
Is that Central United Life?
Yes.. .
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Anyone know of a Cancer only policy offered by A- or better carrier? CUL is a B+ Company (Good).
 
Sorry if this has already been asked. What are the different types of pay outs? Pros and cons?

Thanks for the knowledge you bring to the forum.
Lee

You have the first occurrence plans that pay a lump sum on diagnosis (usually 5K -50K) Once they pay the benefit, the policy terminates. Premium is the driving force when in competition with these plans.

The other type is what I refer to expense incurred. These plans may have a lump sum diagnosis benefit but they also pay on an ongoing basis as treatment is received. There are usually benefits pay for hospital confinement, surgery, radiation, chemo, Dr in hospital calls, nursing, transportation and lodging, etc. With these plans you do not live and die by your premium rate as you also can compete based on benefits.

Which you prefer is really matter of opinion. Some times the First Diagnosis Lump some will pay the most and at other times the expense incurred will pay the most, especially if there is a recurrence of cancer.

I like selling the expense incurred plans because it gives you so much to talk about and sort of brings home what is involved in the treatment of cancer. I recently updated my wife's coverage and it was an expense incurred policy.
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"Originally Posted by JimmyUt
Is that Central United Life?
Yes.. .
------------------------------------
Anyone know of a Cancer only policy offered by A- or better carrier? CUL is a B+ Company (Good).

AGLA comes to mind.. Good benefits, great premium at younger ages. Good first year commission on their Special rep contracts ..:yes: Might as well say no renewals.. :no:
 
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You have the first occurrence plans that pay a lump sum on diagnosis (usually 5K -50K) Once they pay the benefit, the policy terminates. Premium is the driving force when in competition with these plans.

The other type is what I refer to expense incurred. These plans may have a lump sum diagnosis benefit but they also pay on an ongoing basis as treatment is received. There are usually benefits pay for hospital confinement, surgery, radiation, chemo, Dr in hospital calls, nursing, transportation and lodging, etc. With these plans you do not live and die by your premium rate as you also can compete based on benefits.

Which you prefer is really matter of opinion. Some times the First Diagnosis Lump some will pay the most and at other times the expense incurred will pay the most, especially if there is a recurrence of cancer.

I like selling the expense incurred plans because it gives you so much to talk about and sort of brings home what is involved in the treatment of cancer. I recently updated my wife's coverage and it was an expense incurred policy.
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AGLA comes to mind.. Good benefits, great premium at younger ages. Good first year commission on their Special rep contracts ..:yes: Might as well say no renewals.. :no:

How about something with renewals?
 
Just remembered Banker's Fidelity has a decent plan.. They are A- rated and pay a decent commission rate. They issue to age 85.
 
Does anyone know anything about he Aetna cancer plan?

Others will know more I'm sure. I just got the enrollment kits. Plan to pair it with MAPD, long overdue for me. What I do know is it's first occurrence, premium for $5K is $15 age 65-69, $30 for $10K. Haven't gotten comp numbers yet. Should nicely fill the MOOP gap for small money.

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Just remembered Banker's Fidelity has a decent plan.. They are A- rated and pay a decent commission rate. They issue to age 85.

I would be interested to know how you marketed these. You mentioned that were you to do it over you would only do cancer plans. Please if you will tell us how you sold these, and where. ie business, personal etc.
 
Does anyone know anything about he Aetna cancer plan?


I sell some of the Aetna Cancer Plan. I also bought $25,000 of it on myself a while back. I bought $200,000 critical illness on myself through Assurity 4-years ago. So far so good. I hope I never file a claim.

I believe in owning what you sell.
 
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