Medicare, ACA, and Life Insurance News

Why Agents Should be Selling Cancer, Heart Attack and Stroke Insurance

Written by www.psmbrokerage.com Admin | Thu, Nov 02, 2023 @ 04:32 PM

Selling Cancer, Heart Attack, and Stroke (CHAS) insurance provides agents with an opportunity to offer critical financial protection that goes beyond standard health and life insurance. These specific insurance products address the unique, high costs associated with severe health conditions that impact millions of people each year.

  1 in 3 People Will Be Diagnosed with Cancer in Their Lifetime

Why Sell Cancer Plans? With such a high probability, most clients will know someone affected by cancer or may face it themselves. Cancer insurance provides peace of mind by covering costs not fully addressed by health insurance, such as deductibles, lost income, and non-medical expenses.

  Cancer Treatment Costs Can Exceed $100,000 Annually

Why Sell Cancer Plans? Traditional health plans often leave significant out-of-pocket expenses, particularly for extensive treatments like chemotherapy and surgery. Cancer plans offer financial relief, covering treatment expenses and related costs, so clients don’t face financial hardship during an already difficult time.

  Nearly 60% of Cancer Patients Face Financial Hardship During Treatment

Why Sell Cancer Plans? Many cancer patients report financial struggles due to lost income and high treatment costs. Cancer plans are designed to ease this burden, providing clients with critical funds to help manage expenses and focus on recovery, which strengthens client loyalty and positions agents as proactive, compassionate advisors.

 

Here are some key reasons why agents should consider adding CHAS insurance to their offerings:

1. Rising Medical Costs

The financial burden of treatment for cancer, heart attacks, and strokes can be overwhelming, even for clients with comprehensive health coverage. CHAS policies can help cover out-of-pocket costs, including deductibles, co-pays, and other non-medical expenses like travel or lodging.

2. Growing Client Need

With one in three people likely to experience some form of cancer, heart disease, or stroke in their lifetime, many clients are increasingly aware of the financial strain these illnesses can cause. Offering CHAS insurance addresses this need and provides clients with peace of mind, knowing they’ll have financial support in a time of crisis.

3. Affordable, Customizable Options

CHAS policies are often affordable, with customizable options that fit a wide range of budgets. This makes it easier for agents to present CHAS insurance as an accessible solution that complements clients’ existing health and life policies without significantly increasing their premium expenses.

4. Enhanced Client Loyalty

By offering CHAS insurance, agents demonstrate a commitment to comprehensive financial protection for clients. This proactive approach can help strengthen trust and build long-term loyalty, as clients appreciate the added coverage options tailored to their needs.

5. Increased Revenue Stream

CHAS insurance provides agents with an additional income stream through recurring premiums and renewals. As clients become more aware of the potential financial risks associated with critical illnesses, demand for these policies grows, giving agents a reliable and profitable line of business.

"Providing clients with coverage options that specifically address the high costs of critical illnesses is not only a smart business move—it’s a valuable service that clients genuinely appreciate."

Incorporating Cancer, Heart Attack, and Stroke insurance into your product portfolio enables you to offer well-rounded coverage, meet clients' evolving needs, and establish yourself as a trusted resource in their financial journey.