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Ancillary Products

Protection Against the “Big Three”: Selling Cancer, Heart Attack and Stroke Insurance

By February 19, 2020January 4th, 2021No Comments

No one wants to believe it will happen to them. Yes, we’re talking about cancer and cardiovascular disease. But the statistics, unfortunately, say otherwise.

According to the National Cancer Institute, almost 40 percent of men and women will be diagnosed with cancer at some point in their life. In fact, in 2016, an estimated 15,338,988 people were living with cancer in the United States alone. And the number of new cancer cases per year is expected to rise to 23.6 million by 2030.

And it’s not just cancer we’re worried about. The American Heart Association and the American Stoke Association estimate about 92.1 million American adults are living with some form of cardiovascular disease or the after-effects of stroke. Direct and indirect costs of total cardiovascular diseases and stroke are estimated to total more than $329.7 billion; that includes both health expenditures and lost productivity. And they predict that by 2035, nearly half of the U.S. population will have some form of cardiovascular disease. Luckily, as medicine and healthcare has improved, so has the likelihood individuals will survive these catastrophic medical issues.

What does this mean for you as an agent? Selling Cancer, Heart Attack and Stroke insurance provides beneficiaries a way to pay for their hospital stays, treatments, rehabilitation services, medical procedures, and other expenses following one of these health events. While a client’s health insurance covers many medical costs, it does not cover all of their drugs or treatments, and it certainly doesn’t cover those indirect costs associated with these conditions – like loss in income or productivity.

These policies are a valuable supplement to your clients’ primary health insurance plans! Depending on the provider, plans and state the policies are available to individuals age 18 to 99 and lump-sum payments are available from about $5,000 to $500,000 following a qualifying diagnosis. Best of all? The payout can be used toward both medical and non-medical expenses the beneficiary may need to recoup from their illness.

Recommending this ancillary product shows your clients you anticipate their future needs and can offer a valuable solution to a costly health issue.

Using a local insurance FMO in North Carolina can help you find the best Cancer, Heart Attack, or Stroke plan for your client. Give us a call at 919-460-6073 or email us at info@carolinaseniormarketing.com to learn more.