Is Family Heritage Life insurance a scam?
Scam. I don't think so. High pressure sales, yeah, when they cold call you. Don't sign anything unless you know what you want and what you are getting. Individual insurance needs vary from person to person. You may be better off with other traditional health insurance or traditional investments. I did my research and called them. I carry this, for peace of mind. Yeah, if you have no claims, the 25 year wait for return of premiums (less any claims paid) is a long wait & you get no interest as if you'd been squirreling the cash away in savings bonds. Cancel early & forfeit any premium return. Their financial strength rating (FSR) used to be B++, but was upgraded to to A (Excellent) in 2012 when they were acquired by another company.
by skeptical - 18 hours ago
It was dubbed "stupid investment of the week" by Market Watch: http://www.marketwatch.com/news/story/details-cancer-insurance-policy-make-you/story.aspx?guid=%7B5C48C9D4-F303-4F0F-94BA-E843C3731E72%7D
by tonalc1 - 18 hours ago
I actually have my neighbor, very close friends of mine. They have the Family Heritage and unfortunately he was diagnosed with cancer, he has been battling cancer for about 1 and half and my neighbors are so relieved that they had coverage. They submit all their receipts, I also help him fax their documents to Family Heritage. He used to have to travel to MD Anderson and the company would pay them for that also. He is now in Hospice and they pay him daily for that as well. I wouldn't wish my own enemy that illness, I have seen my friend fighting for his life and that company has made his life much easier as in not having to worry about financial obligations that come with life.
by Anonymous - 18 hours ago
yes, they are a scam!!! I have paid the premium for months and months for the cardio care. Had a heart attack 2 months ago and they claim I never did. They wont pay on any claims, and if you insist and are in the right they return all the premiums paid which is hardly anything compared to what you thought you were paying for. If anyone wants to call me regarding this bogus company, please do.
by LISA - 18 hours ago
I just found out about Family Heritage in August of 2014, i was asked "what do i have in place if i was diagnosed with cancer". My reply was nothing, i am a Veteran and have medical coverage through the VA but nothing to pay my bills. Now being in the Asbestos removal business for 30 years of course cancer was something i should have protection from. I closed my demolition company of 20 years, went and got my licensing and started sharing the Family Heritage products. My first stop was my daughter as she has "OI" a brittle bone disease and has had hundreds of fractures growing up and now 3 children with it. This is a genetic disease and Family Heritage has already paid 2 claims to my daughter! As for me, everyone needs to have the protection Family Heritage offers!
by Troy - 18 hours ago
Great company, they did what the salesman said they were going to do with my parents. They have different policies cause they were not married to each other when they got their cancer insurance years ago. Just a couple of years ago they received all the money they put into the policy since they didn t have a claim. They were very grateful to have that money back now that they are in their 80 s. Thanks Family Heritage for being honest.
by Judy - 18 hours ago
Family Heritage is an AWESOME company! Please make sure you understand what you are buying...ask questions...don t rush into a decision! Anyone on Medicaid should not buy this...unless you are sure you are going to be off Medicaid when you file a claim or fulfill the time period for ROP...Medicaid people will lose their Medicaid benefits and have to spend all of it to get back on the program...These supplementals are for people that work and want to protect their assets if they get diagnosed with a devastating disease! Even the person above this post says they returned her premiums...and they were low...I love Family Heritage...I know what I am buying...I know what I am going to do when I get my ROP...
by Pixie - 18 hours ago
i work with family heritage, we are not a scam some people just love to over exaggerate.
by Deanna - 18 hours ago
in the process of filing a legitimate claim right now, seems they are trying to weasel out of paying. its suppose to pay regardless of whatever other insurance that you may have. Well , my daughter is on medicaid, she broke her femur. Medicaid paid her bill, but Family Heritage is suppose to pay me directly, regardless of whatever insurance there is.. They have all the documentation there is, there is NO QUESTION as to the claim being legitimate. Now they are telling me that they have to inform Medicaid and wait 30 days for them to respond. They just sent another letter telling me that they are going to give Medicaid an additional 14 business days to respond. They said that they will let me know their decision at that time , whether or not Medicaid responds, they told me they were gonna do that after 30 days. Will mgive everyone an update at the end of all this. Might even be a news story later on.
by mike - 18 hours ago
Family Heritage has an A Rating. Return of premium does apply. As in all cases, Return is based on Criteria. 55 yrs and under goes back to insured (There is a time period) 56 and older (Starting at that age) Return goes to beneficiary. I was diagnost with cancer last year. They paid me $20.00 more than the charge if my surgery.
by horsecatcher77 - 18 hours ago
family heritage sells medical benefit insurance which pays a set amount to you for each day you qualify. the company itself is fairly reputable, but it hires recruiters to solicit people looking for jobs. since they cannot hire someone to sell insurance unless the person is already licensed to sell it, you should have asked to see this "salesperson's" license. it may have been another employee trying to furnish leads for the real salespeople. i would suggest you seek information from your state department of insurance without accusing anyone. aarp, aaa and jc penney cannot sell insurance. they can form groups for favorable rates as opposed to individual insurance pokicies. frequently, inept employees at insurance companies botch up.
by karen - 18 hours ago
They're a legit company. I found interesting information about your answer here. http://all-insurance-online.blogspot.com/2007/08/life-insurance.html Good luck!
by Rony - 18 hours ago
Yes, it is a scam! I purchased a cancer policy in April of 2012 and was assured that premiums would be returned if no claims (or small claims) were filed. Also, a year or so ago, another young man approached me to buy a Family Heritage policy. I told him that I already had the coverage & ask for verification about the return of premiums. He also assured me that was true. Today I phoned the company to make a change in my payment arrangement. Once again, I asked about the refund of premiums and was told that I was too old to qualify for that. To me that is a SCAM!
by Kay D - 18 hours ago
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