Cancer Health Insurance has become a big selling item in medical health coverage. Does malignancy insurance provided needed medical coverage or even does it duplicate health insurance? Read this cancer health insurance article for info advice.
Cancer insurance has deeply roots going long back in the medical health coverage industry. Once there were were 3 or 4 major carriers using it as their leading product. Now around fourteen insurance companies promote it heavy, and an additional 50 write a fair amount of cancer health insurance. The controversy lies in that benefits the most, the insurance company or the insurance buyer?
TIMES HAVE TRANSFORMED
In the good old days a group of brokers were recruited under a district manager’s supervision. The entire group would get into a small town. They would start with the neighborhood banks and work their way down to the other businesses. It was high pressure selling group insurance where employees had premiums deducted from their pay out. For a few bucks a week, employees might be covered against the big “C”. Yes agents actually took their thumb and index finger and shaped the big “C” for cancer.
When an agent left, there was always another to take the place. The cancer health insurance company then really made away. Since this was true cold phoning there we no lead obtain costs. Plus on an agent that left, the insurance company no longer had to pay the agent and just relax and collect the money coming in. The particular district manager was rewarded fat overrides on the business his group of agents wrote.
Why do so many people buy medical health coverage that overlaps? A one word answer: FEAR. Are there any people that do not have relatives, friends, or acquaintances who have experienced some form of cancer? Plus the cost is right, often $25 monthly or so for a truckload of the and that benefit payments. In reality the cancer health insurance policy provides the purchaser with more emotional security than it can financial security.
EXAMINE THE MONETARY SECURITY
Would you buy a car for twice its value? Definitely not. What happens if you never get cancer? This is unlike life insurance where at some point you are going to die and have the benefit paid. Plus you could pay $25 for 15 many years, $4, 500, and develop pores and skin cancer. You file a state and receive $1, 000. In case in turn you had put just $25 monthly into an annuity you will have amassed $5, 000 or probably $10, 000. This definitely would have helped more in providing financial security against any healthcare health coverage needs.
ADDITIONAL INSURANCE COMPANY ADVANTAGES
Above were covered some of the methods the insurance company benefits from sales, right now look at it by claims. Every year you can find health and disability companies filing personal bankruptcy for paying out more in benefits that they have money in reserve. Do you realize (its public record to verify) that some cancer and dread disease businesses are only paying 60% out on promises? Seems like easy math to see who comes out the winner
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