Group Health Agents...selling 'Ancilliary?'

Mar 12, 2019

  1. rousemark
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    rousemark Still Here!

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    Would say that is the reason that most cancer plans set up on section 125 are expense incurred plans and not lump sum..However, I do not do Payroll plans. I prefer to work one on one with folks.
     
  2. rousemark
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    One reason that the group guys don't do ancillary is many of them do not like having to sell the employees one on one.. There is a lot of difference in the way most true group health plans and ancillary voluntary plans are sold..
     
  3. rousemark
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    This page has some interesting statistics that go beyond the standard 1 in 2 males and 1 in 3 females which includes skin cancer.. According to the ACS, almost 40% of Americans will experience "invasive" cancer and 20% of Americans will die from cancer.. So, if you buy a cancer policy, your chances of having a serious claim is 4 out of 10.. Believe me, if you are one out of the four, you will not think cancer plans were a bad buy..
    Lifetime Risk of Developing or Dying From Cancer
     
  4. sswords
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    sswords, Apr 14, 2019
    #24
  5. sswords
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    Agree...to a degree. A lump sum cancer benefit like the one you describe often falls under a lump sum critical illness policy that my agency typically advises against pre-taxing for this reason. However, most stand alone cancer policies pay on treatment benefits which are easily justified making benefits non-taxable to the employee. Therefore, we recommend the treatment based benefits go under the 125 plan.
     
    Last edited: Apr 14, 2019
    sswords, Apr 14, 2019
    #25
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