Take care, best wishes, and God bless. My dad spent 18 days in the hospital and the bill was for $128,000 including the X-rays. There's a time period before you'll get your premium back. You may be eligible for a cancer insurance policy. Does cancer insurance offer a return in premium or cash value? Cowboyind, you need to consider the difference between savings and investments. TurboTax Live Basic Full Service. His medical billshospital, doctors, 3 surgeries, ambulance trips, radiation, chemo, physical therapy, hospice and ALL prescription drugs hit well over a million dollars. I know this because I had cancer and had one of these policies and I was paid $33,000 for my 7 month battle with cancer. Find the Conseco Cancer Claim Form - Combined Benefits Group, Inc you require. CDs are a similar type of investment to U.S. Savings Bonds in that both are very safe. Targeting 'middle America,' or U.S. households with annual incomes between $25,000 and $75,000, Conseco's insurance products range from medical to life. Cancer insurance, like lottery tickets, amounts to a very poor way to spend money. It is just another cost to factor into the price of the policy and is probably not better or worse then a regular passbook savings account considering the amount of money involved. Most of you act like its a gimmick. Kind of a screwy policy. If you work for a large company, disability insurance usually is adequate. However, when you see what is covered by cancer insurance, it is easy to see why everyone should have a policy, just in case. If you don't use the insurance, after 25 years you receive the entire amount you have paid as a refund. We use cookies to improve security, personalize the user experience, enhance our marketing activities (including cooperating with our marketing partners) and for other business use. Open it up with cloud-based editor and begin altering. IN There was originally something like a $13,000 up front payment for any type of cancer and is now only $1,000 up front payment, excluding skin cancer. With return of premium, the policyholder is entitled to get back all or a portion of premiums paid if certain circumstances are met, such as dying before the policy terms ends, at the end of a policy if no claims have been made, or if the policy is cancelled. Problem is getting it sold to low risk people to offset those with "lifestyle" *cough* risk. Illinois Mutual: Best user-friendly policy. As of year-end 2016, CNO had roughly $4 billion in revenue and $263 million in operating income. I'm sorry if the use of the word investment was confusing in my earlier post, but good and necessary insurance is an investment in that it can save a person from tremendous loss. 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. USLegal fulfills industry-leading security and compliance standards. By excluding it, they're ensuring that a big chunk of the cancer-suffering populace can't collect on their insurance. Theme: Newsup by Themeansar. Why would you NOT take advantage of Washington National's Cancer Policy? READ: Foreign websites steal our content, Click Here to read other Ripoff Reports on Conseco Insurance. I Have cancer nsurance and I know how it works. The benefit has an additional charge and may pay minus claims . Despite their high cost, the policies may not cover outpatient care. Conseco Health offers a variety of health insurance products: Medicare Supplement Cancer Insurance Hospital Insurance Heart/Stroke Insurance Accidental Injury Insurance Contact Conseco at: Conseco, Inc. 11825 N. Pennsylvania Street Carmel, IN 46032 Telephone: (800) 525-7662 For example, women worry tremendously about breast cancer, but heart disease kills ten times as many women as breast cancer. They die of "heart failure". It sounded good to me. If you are in a type of job where job security is not high, I would set money aside rather than pay for cancer insurance to pay for COBRA when/if I am laid off. There are three types of skin cancers - basal cell, squamous cell, and melanoma. You may find the up front amount is the only amount that you receive. Any type of insurance policy that is written to insure against one specific peril is a bad insurance investment, except in some very special circumstance, such as if a person had a very high level of risk for some specific insurable loss occurring. I remember reading that if you spend them on college the year you cash them, there are some exceptions on the interest. Rapid City South Dakota, Conseco Insurance screwing their customers taking steps to assure profitability of medical business rip-off to consumers, Paradise Property Management Ventura Illegal eviction my account being hacked, PPM will not investigate how it happened Ventura California, Kei Kullberg Quintessential Mortgage Group bait and switch you into promising you a low-rate Mortgage Scammer White Plains New York, TAHINI GODDESS Sally schimko Sexyveggies Tahini Goddess inulin Goddess Prebiotic white labeling of non-licensed food supplement. The insured is covered as along a You are at right place get all, Are you looking for Prudential Cancer Insurance . Typically yes, however some insurance companies offer term levels such as 10, 15, 20, or 30 years, where the policy is only good for that amount of time. This type of specific peril insurance IS a bad deal. Insurance companies know this, and some take advantage of it by selling policies to protect against risks that are very unlikely to happen. Sure I can it's called the American Cancer Society. work in an asbestos factory and drink out of styrofoam cups Don't get this policy, they payout is not worth the premiums. Help with pain management pain, nausea and other treatment side-effects, Premium-return rider Stick that in your pipe and smoke it. Why Ripoff Report will not release author information! There are many different ways of looking at epidemiology. At least here you have some control over it. This has been going on for over a year now. Most will only pay if your accident was in a common carrier, commercial transport, or you are hospitalized for a certain number of days. Some might be: The policy has to be in force for 5 years before a partial refund and 20 years for a full refund - ask your agent for details. Employee programs Your premiums can be conveniently deducted from your paycheck. Handbook, DUI VERY FRUSTRATED. If you have the money in some type of investment account and can transfer it into your checking account with a phone call, it's easy to spend it. This will make sure you have as extended medical coverage as possible. Technology, Power of It has great daily benefits,you're premium never increases, and you're guaranteed 100% return of premium, EVEN IF you need to use the policy?? I see that bond in front of me and I do not want to cash it in. The completed form can be faxed to 1-800-757-6324. Egads! Very few of these policies ever pay anything because most people do not develop cancer. I also know how your health insurance doesnt work like YOU think it does. IN 3 WEEKS THEY SENT 3 OF MY RECIPIENTS DEAD FROZEN TINY BOUQUETS calgary, Ponce motors Deceptive car sales Austin Texas, Nextiva efax overcharged me for an entire year even before the monthly trial expired able to use the service at all. I have this insurance, I have already received my premium payback once and will again in a few years.had it since 1984. Here's a breakdown to help make your decision easier on the return premium rider option: 2. Same if you have major trouble with heavy associated costs relative to any one of a dozen (hundred?) Guide, Incorporation For most policies its 25 years. Also, if she had been paid $3,000 from the company, the life insurance amount would have been reduced by the amount paid out. https://EzineArticles.com/expert/Loreen_Worden/225580, 2023 EzineArticlesAll Rights Reserved Worldwide, Twelve Secrets and Tricks to Buying Life Insurance, Cancer Insurance and the Return Premium Rider Option, https://EzineArticles.com/expert/Loreen_Worden/225580, http://ezinearticles.com/?Cancer-Insurance-and-the-Return-Premium-Rider-Option&id=4279292. There are 21 million people living with diabetes now where most will develop cardiovascular disease given enough time. These policies have limitations and exclusions. USLegal received the following as compared to 9 other form sites. And that doesn't even count all the special insurance you would need for car accidents, car theft, damage to car due to storms, damage to home due to earthquake, damage to home due to fire, etc. This rider cost money - it's not free. 1 out of 2 men will get prostate cancer, 1 out of 3 women will get breast cancer. Bankers Life and Casualty: 1-800-621-3724 Colonial Penn Life: 1-877-877-8052 Washington National: 1-800-525-7662 Bankers Conseco Life: 1-800-845-5512 Conseco Life: 1-866-595-2255 She passed away Oct 27, 2011. Right now they pay better rates than CDs. For example, if you have the policy for 25 years and you have the return of premium coverage, you will get all of that back at the end of the 25th year. You are many, many times more likely to be killed on your car ride to the airport than on the airplane flight, but people do not assign their worry very accurately. The MD reports "Cause of Death": heart failure. It's not a good deal, but it doesn't rise to the level of a rip-off, in my opinion. His chemo was billed separately at $1,200 a pop three times a week. I now work for them because of what it did for me. are also contributors. So if you pay on it 5 years, don't use it, then pass away, the beneficiary gets the life insurance. It is not "medical insurance" designed to pay the doctor. Landscape Architects & Landscape Designers, Outdoor Lighting & Audio/Visual Specialists, Opinions on longterm care insurance please. However, you said in your previous post that you will be 63 in 25 years, so you are 38. Consumers Union has called it a "bad insurance deal," and further points out that it can even be counter-productive in that many people buy cancer insurance when they don't have any other health insurance -- not even realizing that what it pays will be basically nothing next to the cost of treating a serious case of cancer. Theft, Personal That would be unwise, or are you drumming up business? However, the premium is extremely cheap. I just know how my clients have benefited, and that's where I get my experience to comment on the usefulness of these plans. Washington National Insurance Company is not licensed and does not solicit business in the state of New York. Conseco Cancer Insurance can help ease the financial burden often brought on by this disease, bridging the gap between group health insurance plans and the high costs of medical and non-medical cancer treatment. | Tell us has your experience with this business or person been good? Indoor & Outdoor SMD Screens, LED Displays, Digital Signage & Video Wall Solutions in Pakistan She was over age 55 so her premiums were kind of high (I thought). When we bought our policy a young lady in our neighborhood had it, her policy had already paid out almost $300,000. I would not recommend it to most people. Copyright 1997-2023, Ripoff Report. Btw. Ripoff Report has an exclusive license to this report. https://www.ripoffreport.com/reports/conseco-insurance/carmel-indiana-46082/conseco-insurance-return-of-premium-dates-changed-carmel-indiana-943450. My best advise for anyone would be to RUN as fast as you can from this company. they say she must have had a pre-existing condition at that very location. Planning, Wills Does anyone here have cancer insurance? Conseco Cancer Insurance. It would be up to the owner to decide whether to use the insurance payment to pay medical bills or use it in some other way entirely. In case of cancer insurance, it is a cancer diagnosis. Fill the empty areas; engaged parties names, places of residence and phone numbers etc. Use the insurance, after 25 years, do n't use it, pass! Here to read other Ripoff Reports on Conseco insurance bought our policy a young conseco cancer insurance return of premium in our neighborhood had,... 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