Question

Is Family Heritage Life insurance a scam?

This guy approached us to see if we wanted to buy this "cancer treatment" policy that the above named insurance company is offering. Just wondering if anyone has heard of such a company and knows anything about them. Thanks.

7 years ago - 5 answers

Best Answer

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They're a legit company, rated B++ (I wouldn't buy from them based on that rating), HOWEVER, why would you buy a health insurance policy that only covers ONE illness? Your chances of using it JUST aren't that high.

If you want HEALTH insruance coverage, buy a health insurance policy. It's not cost effective, and very silly, to buy one policy for cancer, one for diabetes, one for heart problems, etc.

Source(s):

7 years ago

Other Answers

It was dubbed "stupid investment of the week" by Market Watch:

www.marketwatch.com/news/story/deta...

by tonalc1 - 7 years ago

They're a legit company. I found interesting information about your answer here. all-insurance-online.blogspot.com/2... luck!

by Rony - 7 years 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 - 5 months ago

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.

Source(s)

by skeptical - 4 months ago