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Way, way back in the 80's I sold med supps for Pioneer Life. I am thinking they got bought out by Conseco, I think that's correct.
Conseco Insurance Co.
- Thread starter matilda654
- Start date
And it was downhill forever after.
gegelo2012@
New Member
- 3
Look for google. Find Conseco Insurance Co. Review. Maybe they are reviews about that company..
I can't figure out how to start a post here, so I have to piggy-back. I have an offer from PMA_USA/Wash Nat'l to sell these, but as a life, and ACA/health guy, I can't see much value in their policies. Lots of exclusions and conditions, and a high price point for the return of premium feature. Anyone else see this differently? Thank you.
I recently contracted with Washington National.. Their Solutions Cancer is a decent product for the money (just remember it doesn't pay commission over age 70).. Their Lump Sum products are also pretty good. I don't particularly care for the ROP riders but I am definitely a believer in cancer insurance. Money apid direct to the insured to be sued for any purpose they want.. especially those out of pocket expenses not covered by even the best of medical plans.
Thanks for replying. The W.N. CN Solutions cancer product (I would be selling through PMA_USA) is pushed at the agency with ROP, which is a 50% markup - not the 6% the recruiter told me. The policy only pays $1000 at the point of claim, and has many limiting conditions for other payouts. The limited claims info I was able to see suggests only about an 8% payout, on a $45/month policy. Is this a good value?
As I said, I am am not a fan of the ROP rider.
The $1000 initial benefit payment can be increased to a max of 10K in 1K increments.
Don't know what you mean by 8% payout but if you are talking about the overall return to consumers in benefits, that would be far below the mandated Medical Loss ratios so I would not think *% is accurate.
As a cancer survivor, I can tell you whether you that if you or a family member is diagnosed with cancer, then it is definitely a "good value"...
I see your point. My mother died 1 month ago from breast cancer - at age 88. I am mostly unfamiliar with health supps, but have heard that most pay you from $10K - $25K in money when diagnosed, vs Wash Nat'l, whose basic policy pays $1k, and has a long list of exclusions and conditions for the (several) other payouts.
What you are referring to as exclusions and conditions are pretty well standard throughout the industry.. The 10K-25K plans you are talkign about pay that one time upon the first diagnosis of cancer and nothing more.. WN also has those plans in their Critical Solutions and Active Care.. They can be written to cover cancer only or can include other conditions..
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Per your suggestion I reached out to Rick. He mentioned their claim to fame being the high issue age but other than for the warm and fuzziness why would you show a zero commission product when you could focus on something anything else that pays you?
