Supplemental Life Insurance Policies - Frequently Asked Questions

Some common questions we are often asked about Supplemental Life Insurance Policies.

According to the American Cancer Society figures in 2012, 3 out of 4 families will be affected by cancer. This includes 1 out of 2 men, 1 in 6 of which will get prostate cancer, followed by lung, colon, & bladder.

For women, 1 out of 3 are affected and within that, 1 in 8 will get breast cancer, followed by lung, colon, and uterine. Even more tragic is cancer is the 2nd leading cause of death in children, behind accidents. The odds are someone in your family, or immediate circle has had cancer.

So the question isn’t why you need cancer insurance, it’s why shouldn’t you protect yourself, your family, your business, or your employees?

No one knows if they will get cancer. Obviously if you knew you would, it would be a not brainer to protect yourself. But what a lot of people do not know is some cancers like breast, prostate and ovarian, can be hereditary. However, according to the American Cancer Society, over 90% of the cases come from our environment.
Scientist throughout the world are working on cures for cancer and for preventative medicine. So while cancer is on the rise, the good news is more than 6 out of 10 people will survive thanks to groundbreaking technology and medicine. The bad news is this all comes at a cost. Obviously there’s the emotional and health stresses that comes with falling victim to this vicious illness. What most people do not think about until it’s too late is the financial burden that accompanies the recovery.
The overall yearly cost for cancer in the United States exceed $226 billion annually. And there are two types of costs associated with that figure. The first and obvious one that comes to mind are the direct costs, which includes going to the doctor, hospital, having surgery, chemotherapy, etc. Of the $226 billion in annual costs, the direct expenses constitute only $93 billion. These expenses are covered by your health insurance (ObamaCare) or Medicare. The second and less obvious expenses are the indirect ones. This number constitutes $135 billion of the $226 billion chart. And unfortunately, this is what your health insurance and Medicare do not cover. What are these expenses? Imagine you can’t work for anywhere between 6 months to 2 years. You have lost income and savings for time off work for the patient, family and friends. Your living expenses continue even when you are sick, for example your housing costs, auto costs, food, school fees, utilities, etc. Your health insurance also has limitations so you will have out of pocket expenses for co-payments, outpatient services, medications, deductibles, uncovered charges, in home care, travel, child care, etc. In short, hopefully your finances are stable before you get sick where your income exceeds your expenses. But rest assured if you’re like most Americans, when you get sick, your income drops, while your expenses increase.
Congratulations for being financially responsible. But ask yourself why you would want to tap into your savings, investments, your kids college fund, your own retirement fund, sell your home, car or personal items when you can have a multi-billion dollar corporation protect your finances with unlimited funds? You’ve been smart and worked hard to get to where you are. Our job is to make sure your sole focus is on recovering and becoming healthy, while we deal with the financial ramifications.
Absolutely. And if you’re a business owner and get it for your employer, you can deduct theirs as well.
No one knows your finances better than you. Consider that the least expensive policy we have is $7/week. Regardless if you’re spending $28/month or $300/month, it’s up to you to figure out if your family, or business is worth the protection.
1. Only you can decide that. We are here to help you weight your options. Consider that 3 out of 4 families are affected by cancer, and according to the University of Texas MD Anderson Cancer Center, the cost of treatment for the first year alone can exceed $100,000. For patients with leukemia or lymphoma, that amount can reach $200,000 or more in the first year. Even with exceptional health insurance, the out-of-pocket medical expenses for these insured patients can average $35,000 per year. Survivors of cancer and their families can face significant debt. So you only can weight those facts versus having an unlimited amount of money, putting money directly in your checking account. And to boot, if you don’t get sick, you get your money back.

Surprisingly Affordable.

Most people are pleasantly surprised by how affordable our insurance is. Get a fast quote for you, your family, or your business.
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