Why Sell Cancer and Critical Illness Insurance?
- Thread starter rousemark
- Start date
- 2,960
Are you a complete ***?
- Thread starter
- #53
Scott you are not reading that correctly.. but maybe this makes it a little more plain.. 41% of all Americans will develop cancer during their lifetime. That is approximately 33% of all women and 50% of all men (1 in 2)..
Yahoo!
- 15,319
Wow! Bravo.
Post of the year. May I quote that in my newsletter and post on facebook?
Rick
- 11,280
- 2,960
Kunmon, I wouldn't let him use it. He's an a$$hole.
- Thread starter
- #58
The good news for agents is that 2014 has come and gone and there seems to be no change in the number of people buying cancer and supplemental health plans.
Rouse mark I've never sold a cancer policy . Which companies sell some of better plans?For 15 yrs one of my old friend was colonial life's too agent and became there national sales director . Please name some of the top companies to sell and there first yr and renewal commissions. Do the premiums on cancer insurance ever rise?One problem is every single company offers it so I'm really wondering how big the market is unless you work groups?
- Thread starter
- #60
This thread might answer some of your questions.
http://www.insurance-forums.net/for...-reasons-selling-cancer-insurance-t68422.html
As far as payroll groups, I have never enjoyed that market even though I have written some groups. However, you are mistaken as to what percentage of people who have this coverage through their company. More than 80% of the workers do not have this type of coverage avaiable through their employer.. That leaves the individual market wide open.
Years ago a friend of mine made a very good living working main street writing individual bank draft business. His goal was one in the morning and one in the afternoon.. That is 500 policies per year. The average premium these days is around $500 so if a person did that today on a 60% contract they would be producing $250K in premium or $150K gross commissions. The second yr, the gross commissions (not factoring lapses) would be $187500.
Most companies will be in the 50%-65% range on first year and 12%-15% lifetime renewals.
I am leaning more and more toward Washington National as they have both expense incurred and lump sum plans. 10 Yr. look-back for previous cancer on the expense incurred and only a 5 yr look-back on the lump sum. Plans in most states have an ROP option.
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