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CIL | The agent for them stopped by the other day. It is one of those that pays you for out of pocket expenses and some on certain medical procedures and then gives you your premiums back after 20 years, even if you collect. I won't go into all the details of the policy. If you have one or have had it explained to you, you know all about it. Do you feel they are worth it if you have good medical insurance? My thoughts are, a lot of different medical problems can happen to a person and this just covers one of them. What do you think? |
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Iowa | That has always been my thinking on this type of insurance. No I don't have this type of insurance. I have sat through and listened a couple of times from agents. Why buy insurance on just cancer is always my question. I know, my dad had cancer my grandpa had it. But, I would rather buy insurance that will cover doctor and hospital costs and let God handle the rest. Well, he is in control anyway.
Edited by IowaNotiller 8/29/2011 18:02
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| If you live pay check to pay check this type policy is good to pay for house payments, groceries and utilities and other day to day expenses that major medical does not pay. If you can survive with no income coming in while you are sick its a diferent story. They have kept some from filing medical bankrupcty. |
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| We have both the cancer and disability policies. I have never collected (thank God) on the cancer policy. I did however just get a nice check in the mail today for my broken hand from the disability. This money came direct to me completely seperate from any health insurance payments. It will come in handy for deductable and unpaid costs. For example I will have out of pocket costs of $60 per physical therapy visit and I will be going there twice a week for several months.
I think these policies are a good addition to your normal health insurance. It is spelled out pretty clearly how much they will pay and what they will pay for. And as you stated after 20 years you get your premium $$ back. Kind of an extra forced savings. |
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| They offer this at my work, but I never took it. Some have the disability policy but the return of premium is less any claims paid.
INDY |
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| There are some other companies I would check on before buying. One sounds like a Duck. Very good could be cheaper too. |
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NEMO | Wife and I got cancer insurance through Aflac 20 years ago for the simple fact that cancer runs in both our families. Thankfully, we have never had to use it yet. Got our premium refund check this spring. Sounds like something similar to what you are considering. |
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In my mind, a cancer only policy would be kind of like buying automobile collision insurance that only paid you if you were to collide with a blue car. |
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| Conseco has been selling those types of policies for years. Had a friend who bought a heart policy from them. He had it the 20 yrs & got his premium back. Took out another one & just a couple years later had a heart attack & it paid as stated. We have the cancer policy. We took it & the heart policy out because my wife's family has a history of heart problems & cancer and my family has a history of cancer problems. Wife just had her thyroid remove because of cancer. We're in the process of filing the neccesary paperwork. Should know before long if it works as well as my friend's did.
As I understand the policy. They pay x amount for different procedures and costs associated with the cancer. Payments are paid directly to the policy holder & is completely seperate of any other ins you might have.
No different than taking out a hail policy on my crops even though I carry multi-peril as well. I've collected a lot more from hail losses than I have on the multi-peril policy.
Edited by boog 8/29/2011 23:29
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NC ND | they do pay out, Mom got a cancer policy as it runs in the family, had the policy for three months, got a diagnoses and they paid just as they said. very little hassle or squawcking, which was more than a little suprising. |
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Mid Michigan | I have the cancer policy from Combined insurance. Also have their accident insurance. Used it one time with a broken back and they paid as they said. Have disability through the Hartford. They came to our work and offered it one time only without any medical checkups or tests. Some of the guys thought $7 dollars a week would break them so they didn't take it. |
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| I have the hospital in-patient insurance. I colllected when I spent 10 days in the hospital during my heart surgery. After 20 years I got the premiums back minus what they had paid me during the hospital stay. I'm signed up for another 20 yr deal. I will be tickled pink if I don't collect a dime for benefits.
The company was named Capitol American, then Conseco, now it's changed hands again, I can't think of the new name.
Edited by John SD 8/30/2011 07:43
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| I think it's either Washigton or Washington Naational. After Sept 1 you have to fill claims under the new name according to their website. |
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s nd | Washington National is correct. Haven't put the papers away yet. Cancer seems to be the one you end up running around alot with. Meaning you go here or there for someone else to look at you. Additional insurances can help cover these out of pocket expenses. I have a couple of these policies everlapping. Twenty bucks a month or more. Some take these add on policies out so they can raise their deductible and save on premiums. |
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Southcentral WI | Aflac only pays if you're injured or sick while NOT on the job however. Keep that in mind......it also pertains to any cancer/sickness that could be traced back to your job too.....been there done that.
Dave |
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| I don't know what kind of policy you are talking about, but the strictly cancer policy pay regardless of working or not and doesn't go back to cancer related working conditions.
Edited by twoeyedjack 8/30/2011 23:35
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Anyone have Conseco Cancer Insurance?
