The emerging product of cancer-specific coverage garnered a couple of comments from readers this week, agreeing that a sensitive subject can be handled sensitively and lucratively.
The article, ‘Is there a place for cancer coverage?’ took a look at the cancer insurance, and how some companies are specifically marketing that coverage to clients.
One reader agreed with Glenn Cooke, the president of Life Insurance Canada.com Inc., that people should be buying insurance for financial and not emotional reasons.
“Good article and I agree 100 per cent with Glenn's comments,” said Ken MacCoy. “However, 38 years of insurance sales has proven to me that people more often buy insurance because they (plain and simple) love their families. Financial reasons or logic is a distant second.”
Another reader, who identified themselves simply as Andrewski, shared a personal experience in obtaining a similar coverage.
“Way back in 1992 I snagged a cancer Indemnity contract through AIL. The contract pays out $10,000 upon diagnosis of cancer as well as $200/day hospitalization benefit, 500 days or $100,000 max payout. And the clincher is how ridiculously inexpensive the premium is: only $7.46/ month or $86.50/year! Cheap as borscht.”
For MacCoy, no matter what type of insurance it is, it all boils down to being properly covered.
“It doesn't matter why people buy insurance; as long as they buy it,” wrote MacCoy. “Often cost is a concern, but the only person that is (really) going to take care of you and your family is you. My point: even a small amount of (life, ci, di or cancer) insurance is better than none at all.”
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