I don’t sell financial products, and if it’s up to me, I never will. Sometimes I wonder how it can even be legal to sell some of the crap that’s on the market.
The other day I came across a “Cancer Policy” that was taken out in 2013. The policy has a rider with annual premiums of $168 ($14 per month). Seems innocent, right?
Well, the MAXIMUM BENEFIT AMOUNT for the rider is $2,500.
This means that these people have paid $840 in premiums over 5 years for something that will only potentially pay them $2,500. Doesn’t really seem worth it to me.
If you have one of these types of policies (or anything else of this nature), then you might want to take a deeper dive into it rather than rely on what the salesperson told you that made you feel like you had to have it and made him or her a sweet commission when they sold it to you.
