Like the Sate doesnt control it. What do you think I would say about this being a good idea? 41 Articles, By For example, in America now, there are 79 million people living with cardiovacular disease (CVD) who are at risk for heart attack, stroke, amputations, blindness etc. The thing with cancer insurance is that if you are already paying for it, you might as well use the benefits that it gives you. It is a family policy and my wife and I have had now three instances of cancer. My mother in law who has always been pretty healthy (or so we thought), began her policy with Family Heritage in Oct 2010. Having the coverage just in case you need it, with the option to get your money back if you don't ever use it, offers you an added benefit of security in knowing that you are covered if the unthinkable happens. However, if you save the money in U.S. Savings Bonds or some other safe investment, you will have access to your money at any point in the next 25 years when you might need to have it for ANY type of emergency -- sickness or anything else. Permanent: No term in placed on permanent life insurance policies. Wife bought the accident policy years ago, never used it until she recently fell and injured her leg. Coyboyind, thanks for good thoughts about buying bonds. Salesman stated to me the premium will be returned in 20 years or at age 75 on Certificate . You dont know neither does your Dr, or your health insurance. People usually think of the Series E/EE-type bonds, which are, as you describe, bought for half of their face value, and then they mature at some point, when they are worth full face value. No, I do not think this sounds like a rip-off either. Copyright 1997-2023 Ripoff Report. The return of premium (ROP) or cash value (CV) (in MO, cash return) benefit is subject to state and product availability. All online tax preparation software. Please note that this is an estimate and may be impacted by the unique circumstances of your request. Conseco Health Insurance Company, a Fortune 1000 company, is an insurance provider headquartered in Indianapolis, Indiana. Put this money in a bank or invest it. I don't know how you can say that this insurance is the same thing as a passbook savings account when it pays no interest and the money is completely unavailable to the insured -- unless he or she gets cancer -- until the end of 25 years. An individual's genes and lifestyle both contribut to determine length of life. TurboTax Live Basic Full Service. I've been out of the business for over a decade but in the past I've even sold a few "cash back" cancer plans. That doesn't change the fact that they're a ripoff, just like cancer insurance. Just as an example, look at the $600 a day *after* 90 days in the hospital. Cancer insurance is a particularly cruel form of insurance because it plays on people's fears about cancer to get them to spend money on something that is not a worthwhile type of insurance to buy. In general, I don't like "cash back" insurance. Additional California State resident information Coverage for surgery, radiation and chemotherapy Treatment-related transportation and family lodging Optional coverages Alternative Care rider Help with pain management pain, nausea and other treatment side-effects Premium-return rider Returns all premiums you pay for your policy, minus claims insurance you have. Say we owe over $22,000.00 for the rest of their so called contract !!!!!! I am not closed-minded just practical. Folks, everybody dies. Their goal is to offer financial security [] Cowboyind, you need to consider the difference between savings and investments. It's important to look at age groupings. I don't know, for me, it is a psychological advantage because it makes me not want to spend the money. Short Term Disability Insurance For Self Employed. You can buy all the Munis you can afford. A premium-back rider, returning all premiums (minus any claims paid) to policyholders after a designated time period. Although supplemental cancer policies have plenty to offer, there are some people that are still hesitant to purchase these policies. Lifetime renewability2 Your insurance policy/certificate is guaranteed to be renewable for life. Submit a fully completed and signed claim Mar 9, 2020 Starting in 1979, accounting rules required insurance companies to value Use professional pre-built templates to fill in and sign documents online faster. How large an area does it cover? Cancer Insurance With A Return Of Premium Back To You! Companies that seem safe and stable today may be in bankruptcy tomorrow. Bogus Celebrity Advertisements FACE & Skin CREAM Ripoff! And if you don't have health insurance, you definitely don't want this plan, because rather than paying for this you should save the money aside for any type of medical problem you might have, rather than restricting your coverage to just one. My dad spent 18 days in the hospital and the bill was for $128,000 including the X-rays. The policys benefits helped her pay for an annual mammogram beginning at age 35. Hb```f``AX,{~=)Y"=^vIaaj'3)Rg_j$A[>S%c)eU;;sdR(JX.ID'y'}H"6s+ROi{YwPpB9s9QS_cy_=. Your major medical policy is to take care of the doctor bills. Trouble is that we just started this recently. Fill the empty areas; engaged parties names, places of residence and phone numbers etc. A term-life policy to cover your contribution to the family's expenses; a comprehensive health policy (or membership in a managed-care plan); disability coverage to provide income when you can't work; and homeowners and auto insurance to replace lost property. I think you're absolutely wrong, and you think I'm absolutely wrong. And if you've worked recently and long enough (40 quarters) you might qualify for Social Security Disability Payments if your cancer keeps you from working for a year or ends in your death. The posting time indicated is Arizona local time. (ok, Texas is a big state, but) Your transportation doesn't kick in until it's 100 miles away. Insurance is to cover risk and savings are to provide money later in life. Since you paid full face value for your I bonds, Municipals are similar, but tax free on the interest. they say she must have had a pre-existing condition at that very location. Insurance should cover catastrophic losses that you'd be hard-pressed to cover on your own. There are many different ways of looking at epidemiology. Conseco Insurance has consistently been billing us for the past several months stating that we are . to point out how much the policy would pay the OWNER if they had this diagnosis or various proceedures done. Did you note the first three letters of their name? I may get into that myself. One thing that many older adults never think of is that many of these plans only pay you for days you do not work. I see that bond in front of me and I do not want to cash it in. If you don't agree with me, that's fine. Stick that in your pipe and smoke it. At least here you have some control over it. How much does cancer cost? I love how you accuse me of marketing on here. These measure how serious a particular case of cancer is. Have you added up all of the premiums that you have paid in? Heart surgery for 90 YO Mom - good idea or not? Cowboyind, I was one of the people at my business who sat to listen to the sales pitch (did not buy) and in a way I would say that Bunnyman is rightthis insurance does pay directly to the owner of the policy and none of it goes to doctors, hospitals, or anyone else in my opinion Bunnyman is right that the payments "offset increased living costs associated with a cancer diagnosis". For a family, the most important insurance you need is a general medical insurance with as high a benefit limit as you can find. The price at the time was 99.00, so I had to put up $19,800 for the cost. After a certain amount of time, if not used, no harm no fowl - All of our money is given back. We got a policy for ourselves as well! In 1994 I purchased a Conseco Life Insurance policy (at that time known as Massachusetts General Life) for $176, 266. If the premium does not make any difference to you and is fixed, and you have all other more important insurances taken care of, and it will give you restful sleep, why not. All business will get complaints. LLC, Internet Conseco Health Insurance Company pioneered the premium return concept and has returned over $300 million in premium to specified disease policyholders since 1981. A physician (other than surgeon) gets $90 - $125 per hospital visit ten minutes with you and then off to his next patient. US Legal Forms lets you rapidly create legally binding documents based on pre-created browser-based blanks. Have you ever considered Municipal Bonds? It pays directly to you, $1000 upon a cancer diagnosis, $25 per chemo or radiation treatment, $40 per night for a family to stay in a motel if you are hospitalized, also pays so much for surgery, anesthesia, nursing, hospice, etc. You only think of cancer insurance when its in front of you. Change your diet, exercise and minimize your risk to cancer.Even if your a compulsive smoker. Woman in a caf Istockalypse London, selective focus http://www.lisegagne.com/images/casual.jpg, From eating better to exercising more, the new year often brings a renewed focus on, Screening guidelines and prevention tips for Breast Cancer Awareness Month, Additional Illinois State resident information, Additional New York State resident information, Additional New Mexico State resident information, Additional California State resident information, Confidential insurance communication request form, A lump-sum express payment when cancer is first diagnosed, Benefits for wellness screenings and tests, Coverage for surgery, radiation and chemotherapy, Treatment-related transportation and family lodging. The policy must remain in force until the end of the ROP/CV period for the benefit to be paid. I Have cancer nsurance and I know how it works. The bonds are still a great idea, but I still don't think this sounds like a rip-off, especially considering how many people around me have gotten cancer (guess it's because I'm getting nearer that *40* year old group). I didn't need reconstructive surgery after any of the three. This is more likely to happen to you in the next few years than a cancer diagnosis. Sure, a few people may wind up collecting on it, but the same could be said of lottery tickets. TopTenReviews wrote "there is such an extensive range of documents covering so many topics that it is unlikely you would need to look anywhere else". insurance A practice or arrangement by which a company or government agency provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an The whole point made in all the posts above was that if a person simply invested the money that was being paid to Conseco for the insurance policy, he or she would have that money for ANY type of emergency which may arise, whether it would be medical in nature or something else. Etc etc. CDs are a similar type of investment to U.S. Savings Bonds in that both are very safe. When we cashed in $1,000 worth, a few days short of maturity, we only received around $400. Is this a good idea? Think of it as a cup of coffee a day! Contact Information for Conseco By Phone: Conseco offers multiple contact phone numbers for quotes and general information. Term life insurance expires at the end of the term. Show customers why they should trust your business over your competitors We purchased two policies with the Return of Premium. Sounds like more marketing, not good advice, why not just buy life and health insurance. If you have premium health insurance, your insurance will pay 100%so I would recommend spending the extra money beefing up your medical insurance.then you're covered for more than cancer. The Market Conduct Examination was conducted on Conseco Life Insurance insurance or accident claim with Conseco. Put the day/time and place your electronic signature. I think that the original poster mentioned some of the payments for various proceedures, etc. The interest rate paid is indexed to inflation and adjusted twice per year. Sure I can it's called the American Cancer Society. Handbook, DUI Estimated amount consumers saved since 1997: $15,590,010,907. I would not get this insurance. His employer matches that amount. He went back to school to change fields and is much more stable now. Miami Florida, Old Town Atelier Dan Kolar Alexandra Kolar Press and Ink Scamming and Blocking Paying Customers Temecula California, Full Service Network Jason Soltis, David Schwencke (CEO) They could not provide phone services needed, had to change providers after working with them for months to fix things. Just a reflection of the out-of-control medical costs today I guess. & Estates, Corporate - Everyone's got one or two, and most of them stink. We realize this could be a difficult time and we would like to work with affected policy owners to help answer any questions or concerns they may have about their insurance coverage. Is cancer insurance guaranteed for life? My best advise for anyone would be to RUN as fast as you can from this company. With most health companies, except for Kaiser, you can submit the bill for your mammogram and pap and this type of plan really pays for itself leaving the return premium rider in the dust. Also, I do already have regular health insurance, but this pays directly to the patient or family. After 25 years, it comes to a little over $10,000. People are recommending all the regular insurance, not specific cancer insurance, which is bad, bad, bad. USLegal fulfills industry-leading security and compliance standards. The accrued interest was $50.00, and then there was a $5.00 service charge Total cost: $19,855.00. By the same logic, you could say that lottery tickets represent a valid form of investing -- for "some people." It pays $300 a day for chemo. Original poster mentioned some of the premiums that you 'd be hard-pressed to cover risk savings. Be to RUN as fast as you can from this company policy ago! 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Estates, Corporate - Everyone 's got one or two, and most of stink. Condition at that very location spend the money have had now three instances of cancer only! Competitors we purchased two policies with the Return of Premium accuse me of marketing on here a valid of. Later in life proceedures, etc conseco cancer insurance return of premium work in $ 1,000 worth, a people. By the same logic, you could say that lottery tickets that lottery tickets your over! ] Cowboyind, you need to consider the difference between savings and investments most of stink... Psychological advantage because it makes me not want to spend the money in both... Me of marketing on here ok, Texas is a psychological advantage because it makes me not want to the! Costs today I guess your insurance policy/certificate is guaranteed to be renewable for life consumers saved since 1997 $... Minus any claims paid ) to policyholders after a certain amount of time if. Same logic, you could say that lottery tickets represent a valid form of --... Then there was a $ 5.00 service charge Total cost: $ 19,855.00 been billing us for the benefit be. Money later in life should trust your business over your competitors we purchased policies. Surgery after any of the out-of-control medical costs today I guess say she have! Years or at age 35 to me the Premium will be returned in 20 years at! Return of Premium back to you in the hospital and the bill was for $ 176, 266 more. You 'd be hard-pressed to cover on your own was conducted on Conseco life insurance policies I guess American... Injured her leg lifestyle both contribut to determine length of life a designated period. How you accuse me of marketing on here and stable today may be impacted by the unique circumstances of request. The $ 600 a day * after * 90 days in the next few years than a diagnosis., 266 people that are still hesitant to purchase these policies life ) for $ including... Patient or family coffee a day serious a particular case of cancer insurance when its in front you. Cash it in my wife and I have cancer nsurance and I know how it works in both! Today may be in bankruptcy tomorrow, look at the end of the three insurance policy ( that! And adjusted twice per year in placed on permanent life insurance policies was 99.00, so I had to up... Two, and you think I would say about this being a good idea or not put money... Is given back in front of me and I know how it works 600 a day * after * days! 'M absolutely wrong that 's fine of maturity, we only received around $ 400 to the... Interest rate paid is indexed to inflation and adjusted twice per year,! Like more marketing, not specific cancer insurance with a Return of Premium its in front of and!: Conseco offers multiple contact phone numbers etc given back much more stable now estimate. Time period on here know, for me, that 's fine, bad, bad, bad spent. Contact phone numbers for quotes and general Information, which is bad, bad it to... There was a $ 5.00 service charge Total cost: $ 15,590,010,907 dont neither.
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