Malignancy 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 information advice.
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Cancer insurance has strong roots going long back in the healthcare health coverage industry. Once there were were 3 or 4 major carriers using it because their leading product. Now around fourteen insurance companies promote it heavy, and one more 50 write a fair amount of cancer health insurance. The controversy lies in which benefits the most, the insurance company or maybe the insurance buyer?
TIMES HAVE CHANGED
In the good old days a group of providers were recruited under a district manager’s supervision. The entire group would invade a small town. They would start with the neighborhood banks and work their method down to the other businesses. It was ruthless selling group insurance where employees had premiums deducted from their pay out. For a few bucks a week, employees could be covered against the big “C”. Indeed agents actually took their browse and index finger and formed the big “C” for cancer.
For the agent left, there was always one more to take the place. The cancer health insurance company then really made away. Since this was true cold phoning there we no lead purchase costs. Plus on an agent that will 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 lots of people buy medical health coverage that overlaps? A one word answer: FEAR. Any kind of people that do not have relatives, friends, or acquaintances who have experienced some form of malignancy? Plus the cost is right, often $25 monthly or so for a truckload of this and that benefit payments. In reality the particular cancer health insurance policy provides the buyer with more emotional security than it will financial security.
EXAMINE THE FINANCIAL SECURITY
Would you buy a car for twice its value? Definitely not. Imagine if you never get cancer? This is in contrast to life insurance where at some point you are going to die and have the benefit paid. Plus you can pay $25 for 15 yrs, $4, 500, and develop epidermis cancer. You file a state and receive $1, 000. When in turn you had put just $25 monthly into an annuity you should have amassed $5, 000 or even probably $10, 000. This surely would have helped more in providing financial security against any medical health coverage needs.
ADDITIONAL INSURANCE COMPANY ADVANTAGES
Above were covered some of the methods the insurance company benefits from sales, today look at it by claims. Every year you can find health and disability companies filing bankruptcy for paying out more in advantages that they have money in reserve. Do you realize (its public record to verify) that some cancer and dread disease companies are only paying 60% out on claims? Seems like easy math to see who comes out the winner.