JUST Got Licensed! Selling Cancer Insurance with Return of Premium

Re: Got Licensed Yesterday! Selling Cancer Insurance with Return of Premium

Well Cancer has a way of not being like the Flu where it takes 5 to 7 days. Her mom had it for 2 years. A lot happens in 2 years. In fact, her dad got let go from his nice corporate Loss Prevention position - they lost their income in the middle of Cancer.

My prospect ended up telling me, they sold the 401k the dad had for 20 years - they downgraded their home. They were a middle-class couple with the 1 kid out of the house ready to start saving and settling down.

This is exactly why Disability Insurance is the 2nd most important insurance to have after Major Medical.

Its terrible what happened. But a Disability Policy was the primary need in that situation. Cancer Insurance would have helped no doubt, but DI would have paid them a heck of a lot more.
 
Re: Got Licensed Yesterday! Selling Cancer Insurance with Return of Premium

This is exactly why Disability Insurance is the 2nd most important insurance to have after Major Medical.

Its terrible what happened. But a Disability Policy was the primary need in that situation. Cancer Insurance would have helped no doubt, but DI would have paid them a heck of a lot more.

How does DI help unemployed or stay at home spouses? Or people that don't have the best health to qualify for traditional hard to underwrite DI?
 
What's the underwriting like for Disability Income Insurance??

It depends on the policy. There are some simple issue type policies out there (a small set of health questions), then there are fully underwritten which ask a full set of health and occupational questions, and sometimes will require a quick medical exam. Then there are some in-between. Lots of various options out there.

Most do ask more questions than Cancer Policies. But they also are more likely to pay a higher amount of benefits.

Personally, if I could not qualify for a DI policy, I would try a CI policy, then I would look at Cancer Insurance/Accident/Hospital Indemnity.

But from a financial planning standpoint, in order of importance, it goes Major Health/Disability/Life/everything else.

Im not saying that Cancer Insurance is bad or not to sell it. But your original post was "Im brand new and Im gonna build my career on just cancer insurance".

It is good to be passionate about the products, it will breed success. But also understand which products will fill the gaps the most. And where the biggest gaps exist. I was just trying to be realistic with you... sorry if it came off as overly negative.

The forum can help guide you a lot more if you share which carrier your working for. Not only do products make a big difference. But the agency system your working under will make a big difference as well. Chances are, more than a few of us have experience with where you're at in one way or another.

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How does DI help unemployed or stay at home spouses? Or people that don't have the best health to qualify for traditional hard to underwrite DI?

My position was CI Policies that include cancer as a disease are more likely to pay benefits.

Obviously, a person with no income is not eligible for DI. But a CI policy would have a higher chance of paying a claim vs standalone Cancer Plans.

And there are simplified issue DI policies out there. DI policies are not impossible to qualify for if you pre-screen properly. (I think this thread was actually in the DI section originally)
 
I agree that CI is better than stand alone, I use the two interchangeably because let's face it, more people worry about cancer than the other two from the standpoint of misc. extraneous costs not covered by medical insurance.
Sure DI should be bought, but let's face it, it's the 50+ crowd that worries about getting cancer, and that have a tougher time qualifying for DI. Regardless some coverage is better than nothing..
 
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