Is this a good idea? (Cancer Insurance with Refund)
Does anyone here have cancer insurance? I talked to a saleslady from Conseco yesterday. They have a cancer policy that is $33.50 per month for a family. It pays directly to you, $1000 upon a cancer diagnosis, $25 per chemo or radiation treatment, $40 per night for a family to stay in a motel if you are hospitalized, also pays so much for surgery, anesthesia, nursing, hospice, etc. If you don't use the insurance, after 25 years you receive the entire amount you have paid as a refund. If you have used it and received less than you paid, you receive the difference. If you use more than you paid in, you get no refund. I realize that I would be losing interest that I could get in a savings account, but I would also receive something for that money. After 25 years, it comes to a little over $10,000. That is not a huge amount, but I will be 63 then and it would be a bump for our retirement. What do you think?
PS - I can also add Intensive Care insurance to that policy for an extra $9 per month - don't know if that is refunded or not. Also, I do already have regular health insurance, but this pays directly to the patient or family. That would be a big help if that time ever came.