Looking for some insurance insight

[wilas101]

So yesterday evening I'm walking out my house to go get some pizza for dinner and I run into some chick walking around the corner of the house. She asks for my wife so being the polite fellow I am I take her inside to the mrs.

Lo and behold this chicks selling supplemental insurance to cover cancer, heart and strokes. I've just let the devil into my house so now I'm stuck listening to her tell us how great her product is.

After I finally got rid of her I was left with some questions and given the diversity of folks here at the planet I thought I'd throw them out with a request for help.

1. Is anyone familiar with this company? http://www.platinumltc.com/

2. Should supplemental insurance coverages be viewed more as an investment or simply another layer of security in the event of an emergency?

3. If a company has to stoop to high pressure tactics to get a person to sign onto their insurance am I safe in believing there is a reason for that? I tend to be rather skeptical if someone is trying to push me into doing something rather than giving me time to think it out and do some comparisons.

4. Do most major insurance companies (allstate, american family, state farm, etc) normally have supplemental policies for coverage on say, cancer or strokes or heart attacks or whatever?


Mostly I'm just looking for the dirt so I can toss it out to this gal when she comes back. I want to see if she can answer or if she's going to squirm when asked questions.

[shaneo69]

I work for one of the largest U.S. life insurance companies, and I've never heard of this company or that type of supplemental insurance. I've heard of Accidental Death add ons, where the beneficiary of a life insurance policy (your wife) would get extra money if you died in an accident, like a car crash.

I would be wary of buying from someone like this. I think your best bet is to check your life insurance coverage that you have through your work benefits, then do a little research online yourself. Not sure what your family situation is, but if you are the main breadwinner and have kids, you want to get enough life insurance to cover your mortgage and maybe your kids' college, plus living expenses for your wife. I've heard people say the main breadwinner should get about 7x your annual salary in life insurance. If you have young kids, 20-year term may be sufficient, because if you die after that, your kids will already be grown up and have jobs of their own. If your wife doesn't work and depends on your income, then you may want to look at permanent whole life.

Once you've looked at several well-known companies online, you can call and have them send someone out to your house to discuss further. At least then you're making the call on your terms. You definitely want to be educated when you're ready to talk to the salesperson.

[shaneo69]

If this is medical insurance for hospital bills instead of life insurance, you need to check how much your work benefits cover in case of medical emergency. If there is a very high deductible, or if your work benefits stop after paying a certain amount, then you may want to look into supplemental insurance. I think that's what AFLAC sells. That's probably the only company I'm familiar with. You may want to ask this chick if AFLAC is one of their competitors.

[morphius]

My wife works for one of the insurance companies listed and sells some stuff along that line, I well see what she has to say about and reply.

[KingPriest2]

I use to work for a supplemental ins. company. We went door to door I only worked with them for about 7 months I then went to a health and life ins. company (more legit in my view).

Shane I am suprised you have never heard of these type of policies.

1. Never heard of the company


2. It is worthwhile to look into. It is not a investment. What it is if you get sick and admitted to the hospital you get paid so much a day and so much after you get out. There are other benifits as well.


3. While I understand and in a way agree it is high sales pitch but sometimes it is necessary to get a person to think Hmm Supplemental insurance?

4. No I use to work for a big ins company and my own healthcare do not carry it.

[jspchief]

Never heard of supplemental?

Afflack!

[wilas101]

What it is if you get sick and admitted to the hospital you get paid so much a day and so much after you get out. There are other benifits as well.

Thats exactly what is is. Sorry I wasn't a little clearer in the original post.

Basically its function is to supplement your income and help alleviate additional expenses if you were to say have treatment for cancer or a stroke and whatnot.

I had never heard of the place either and her response was that the company catered to the rural areas in the midwestern states. They don't sell in larger cities.


The idea of a supplemental type of insurance has merit in my opinion but I was very skeptical about the presentation. It reminded me way to much of sitting in the St. Louis bus station and watching this guy sit down next to me, pull out a ton of jewlery and watches from his pockets and start quoting me prices.

Of course the cops scared him off before I could take advantage of that once in a lifetime offer.

[Mr. Kotter]

Originally Posted by wilas101

1. Is anyone familiar with this company? http://www.platinumltc.com/

2. Should supplemental insurance coverages be viewed more as an investment or simply another layer of security in the event of an emergency?

3. If a company has to stoop to high pressure tactics to get a person to sign onto their insurance am I safe in believing there is a reason for that? I tend to be rather skeptical if someone is trying to push me into doing something rather than giving me time to think it out and do some comparisons.

4. Do most major insurance companies (allstate, american family, state farm, etc) normally have supplemental policies for coverage on say, cancer or strokes or heart attacks or whatever?

1. Never heard of 'em. (Doesn't mean they are bad...)

2. I'd consider it more security; but it has to be affordable....and reliable.

3. "High pressure" depends on the individual sales person often...I'd be leary, but if her claims check out, don't be turned off by that.

4. AFLAC....it's affordable, reputable, and they specialize in the product.

[wilas101]

oh, I forgot my favorite part. This was the basis for most of my skepticism.

her: "so would you like to get started on the paperwork now?"
me: "No, how bout you leave me this information and I'll do some reading and give you a call if we're interested?"
her: "I'm sorry but I can't do that. We're only here in town for this week and after that we can't help you."


I did tell her that she could come back by on Thursday to talk with us again but I also told her point blank that I was going to investigate the company and her policy because I didn't trust her. We'll see if she shows back up or not.

I don't mind if she does once I'm ready for the encounter but walking into my house without me knowing it was for insurance and then hitting me with her opening barrage when all I wanted was some pizza left me wishing she'd have been a Jehova's Witness.

[Spott]

Generally, anyone who sells anything door to door for a living is trying to rip you off. I used to just tell the person off. But I find that it pisses them off even more when you let them go through their whole sales pitch, act like you're interested and then tell them to fuck off after they've spent half their work day at your house.

[seclark]

had a scottish terrier hike his leg on a encyclopedia salesman's briefcase once while he was standing at my front door. i was still laughing when he pulled out of the drive.
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