Critical Illness for Couple in Early 70's

[cowgoesMoO]

I could use some help. I have 2 prospects wife-70 husband-73. very wealthy.

They called me wanting catastrophic coverage. I inquired about their health plans, they both have medicare part A,B and J. I'm not very fluent in medicare. however, I was under the impression that having a good supplement will cover 100% of health incidents. (not including custodial care obviously)

Apparently, they had a friend that had cancer, and was out of pocket $5,000 every doc visit for some kind of shot. Anyway, she is concerned that when she gets a major diagnosis, that everything won't be covered.

It would be nice to offer a critical illness plan that just pays them a lump sum benefit, but their age makes them ineligible for anything I have to offer. Is there a company that will offer CI to 70 year olds?

P.S. Because of their wealth, she is not really interested in LTC. I'm trying to broach the subject, but she is very confident that they are self-insured. which very well may be the case.

 

[rousemark]

Washington National writes CI up to 85. They have enough wealth to cover LTC but she is worried about 5K for chemo?

 

[cowgoesMoO]

I alluded to the same thing, that there might not be a viable or cost effective insurance program, so the best route might be to set up a separate investment account and contribute a couple hundred dollars a month so that in the event a health incident occurs and there are uncovered treatments there is something there.

but as she put it "I am a firm believer in insurance"; so I said I'll try and find something for ya.

I will check out WN. I appreciate the input.

 

[DHK]

Double check to make sure that she can get the coverage in the first place. Depending on how long ago her cancer diagnosis and how long she's been cancer-free... she might not be eligible.

That's in addition to the fact that she has wealth (although wealth and cash can be two different things) as well as her age being a deterrent.

Another thought: what about a rider on a life insurance policy? Many (outside of California) offer a critical illness and a chronic illness rider.

 

[cowgoesMoO]

Double check to make sure that she can get the coverage in the first place. Depending on how long ago her cancer diagnosis and how long she's been cancer-free... she might not be eligible.

That's in addition to the fact that she has wealth (although wealth and cash can be two different things) as well as her age being a deterrent.

Another thought: what about a rider on a life insurance policy? Many (outside of California) offer a critical illness and a chronic illness rider.

She is in good health, the reason she was looking in the first place was because of something her friend went through. (the cancer)