I’ve been asked many times if I sold cancer insurance policies. I always answer: I can and will if you want it. But then they get to hear me ask questions like, why? Why would you like a policy that only covers a single act and has a lot of exclusions? Why would you want a policy you probably already covered under your health policy?
Some of these limited policies, like cancer insurance policies, help make people’s insurance poor.
One of the common answers I get about these policies is that it is so cheap. Well, there is a reason that it is affordable and reasonable because the company doesn’t have to pay out a claim that often.
I would instead people take the money they are spending on a cancer policy and get a good long-term disability policy. A good disability policy will cover everything that disables you, which means there is more of a chance of disability than there is of getting cancer.