A serious diagnosis brings costs that Medicare and MA plans do not fully cover: copays and coinsurance, travel, time off for a caregiver. Medicare.gov explains what it covers for chemotherapy, and clients often still face out-of-pocket costs. Cancer, heart attack and stroke plans can pay a lump sum to help.
I'm Justin Brock. Brock has helped agents serve 250,000+ Medicare beneficiaries. For one product family in detail, read Andrew Saul's breakdown of Mutual of Omaha Cancer, Heart Attack and Stroke Insurance on justinbrock.com. This piece covers what your upline should teach before you sell this category.
What agents need to understand
- Design differences. Some plans pay on diagnosis, others pay for treatment. Know which one you are quoting.
- Underwriting. Many use knock-out health questions rather than rate classes.
- Ages, terms and riders. What applies to Medicare-age clients.
- State differences in design and availability.
- How the cash fits. Mapping the benefit to the client's real Medicare costs.
What your upline should provide
- Product training with clear examples of how benefits pay.
- Underwriting help before an application goes in.
- Compliance guidance on Scope of Appointment for non-Medicare products.
- Carrier access to critical illness options in your states.
Questions to ask an upline
- Which cancer, heart attack and stroke products can I offer?
- Do you train on diagnosis versus treatment designs?
- Who helps with knock-out questions and underwriting?
How Brock helps
Brock covers critical illness in weekly webinars and product spotlights. See ancillary product support and our events.
Want to offer this coverage the right way? Book a call with the Brock team.
Frequently asked questions
What does cancer, heart attack and stroke insurance pay?
These plans typically pay cash, often as a lump sum, when a covered condition is diagnosed or treated, depending on the design. Clients can use the money for costs Medicare does not cover. Read each plan's terms to explain exactly when it pays.
Who might benefit from critical illness coverage?
Clients worried about out-of-pocket costs from a serious diagnosis, especially those with significant MA cost sharing or limited savings, may find it useful. Fit depends on health, budget and existing coverage.
What underwriting do these plans use?
Many use a short list of knock-out health questions. A yes answer to certain questions may make the applicant ineligible. Review the questions with the client before applying.
What training should my upline offer for critical illness products?
Look for training on plan designs, benefit triggers, underwriting, state differences and compliance, plus access to carriers in your states and someone to call with case questions.