The High CO$TS of Cancer is SOLVED with Living Benefits

Lucas Zerbe

We talk a lot about financial cost’s associated with Critical Illnesses. No Critical Illness is more costly today than Cancer! It is so costly that a 2018 article in AARP Magazine lists the experts you should see if diagnosed with cancer:

  1. A Medical Specialist
  2. A Money Manager

Surprisingly option 2 might give you a better chance of surviving the disease with both your health and wealth! Not only are Cancer patients 2.5 times more likely to declare bankruptcy as healthy people but – Cancer patients who go Bankrupt are 80% more likely to die from the disease. (Study from Fred Hutchinson Cancer Center in Seattle)

“For many patients when they get the bills, it can be as bad as some of the side effects of the disease or the treatment” – Gary Lyman MD

Life Insurance that can Save your Life:
New Cancer drugs emerge routinely, but with new hope comes more cost: 11 of the 12 cancer drugs approved by the FDA in 2012 were priced more than $100,000 and usually are not yet approved by Health Insurance Companies. The best treatment is often the newest and because of that it costs the most. 

Nobody wants to put a cost on their own life, but new cancer treatments can  put that idea in prospective. Yousuf Zafar MD at Duke University and his team coined a phrase “financial toxicity”.  This term describes the dire health impact of the soaring costs of cancer treatment. Although unsure when exactly his team begun using this phrase, he insists it is a term whose time had come. 

Many times, patients are afraid that if they discussed their financial fears with their doctor’s, it could negatively affect their treatment. Kaiser Permanente adopted a “level of distress” questionnaire to help caregivers explore 37 possible stressors, including “religious concerns” and “sexuality/fertility”. However, the top 8 are all financial concerns such as housing, bills, and employment. This demonstrates clearly medical costs are only the beginning. Cancer patients must also grapple with the loss of income during several months to years of treatment and recovery, plus any expenditures for travel and lodging at a cancer health facility.

Why am I telling you all this depressing information? The answer is simple. You can prevent this suffering! Currently we sell Health Insurance to our clients and stop there (In many cases). If we continue to do things in this matter our clients could be one the statistics, I discussed above. However, if you make a change and present Life with Living Benefits on each of your sales – you may save the lives of many of the people you work with each day. Not only will you save lives, but you will change your life as well by greatly increasing your income. 

ACA has changed many things in our industry. Some have been good such as Guarantee Issue and Subsidy’s paying most people’s monthly premium payments. However, others such as lowered commissions to agents are not so wonderful if you make you’re income primarily selling only Health Insurance. 

Take the time this month and quote each prospect a Life with Living Benefits policy. That extra Five-minute discussion could save their life and avoid big financial mess for their families.

More Blog Posts

How to effectively cross-sell to your customers!

When I think of cross-selling, it makes me think about car shopping. Everyone goes and buys a car. Of course, there are many car options; the same applies to Health and Life Insurance. Think of Health Insurance like car selling. The client buys the car and needs gap...

The Big 3 of Life Insurance Marketing

The key to successful marketing is getting in front of consumers who want and or need your products. Determining who these people are is the difference between a successful marketing campaign or a failure. So, if you want to have the best chance to sell Life Insurance...

Meet our New Senior Vice President

Most recently VP Purchasing for TBC Corporation, a recognized leader in the replacement tire and automotive service industry.  Managed a team within the Purchasing Group, that sourced ~20M passenger and light truck tires of the...

Cremation is the wave of the future!

Let's be honest: NO ONE wants to discuss this—Cremation! I get it; it's nothing anyone wants to admit, but truth be told, we all will go sometime.  There are many challenges when talking about Cremation, but that shouldn't stop you as an agent from informing people...

Compass Health Headquarters gets a New Street Sign

In the distance, a giant, tall, white metal pole with a blue-lighted box sign can be seen. What sign is it? The Compass Health NEW sign, of course. What a better way of advertising to drivers passing by the office—now they can't miss us! It's been in the works for...

Bruce and Donna turn up at the Heat!

On March 2, Bruce and Donna attended the Florida Blue Suite with Florida Blue Miquel Cruz, Medicare, and David Wagner, South Florida Market President, for the Miami Heat Game. Utah vs. Miami. What a spectacular event. The score...

Just Ask in 2024

Ancillary Products are the key to protecting your clients from physical and financial disasters. These products pay excellent commissions to the writing agent. So why do agents sell so few of these products? Florida Blue Dental  Usable Accident, Critical Illness and...

MA-OEP is ending. Now what?

MA-OEP is coming to an end on 3/30. Let’s all work together to end it with a bang !! *On a side note the Hurricane SEP has been extended once again until 6/30/2024  One thing that you can start doing is setting up Medicare 101. By doing this, you will...

Introducing Our Brand New Compass App

We are excited to announce our NEW Launch of our redesigned Compass Agent App.  Here, you will find a multitude of things you can access:   You can sign in from the app for quick, easy access to upcoming webinars Book your appointments with your clients and new...

Call For a Free Quote