Archive for the ‘Rezilient Direct’ Category

Buying Supplemental Insurance Online – A Revolutionary Change in the Supplemental Insurance Industry Says Greg Feste

September 16, 2011 Leave a comment

“Supplemental Insurance is on its way to becoming an insurance product every household has”, according to Greg Feste.

Why Supplemental Insurance is Key

Rezilient Direct CEO Greg Feste was onto something when he started marketing the highly under-the-radar and under recognized supplemental products. Not only by offering them at all, but marketing them online especially.

Supplemental Insurance, with an exception to life insurance, in the past has not been available for purchase online. Now, several types of supplemental coverage can be purchased online, including, cancer, heart attack, stroke, and accident insurance.

Supplemental Insurance is becoming a financial necessity, and let me tell you why. Health insurance premiums are spinning out of control, rapidly increasing yearly, with individual premiums at an all time high at $2,613/year, and $5,799 per year for families. With health insurance consistently increasing yearly, individuals are having to decrease coverage, and select higher deductible plans so they can afford health insurance. In doing this, it leaves larger gaps in coverage, and makes policyholders more financially vulnerable.

According to the American Cancer Society, the average debt for a cancer patient is $38,000. 75% of cancer patients had major medical insurance, and still ended up with that amount of debt. Why? Well, that’s because historically health insurance, when it comes to cancer for example, only ends up covering about 70% of health expenses. Some of the main costs of cancer like experimental drug treatment, transportation, lodging, are not covered by major medical insurance plans. According to the American Bankruptcy Institute, more than 60% of all bankruptcies in the United States are health related, with half of them being cancer related. 3 of 4 of all who file bankruptcy due to cancer have a major medical policy. This is exactly why supplemental insurance is a necessity for every American family.

“Even with major medical insurance, it’s apparent that individuals, and families are still vulnerable to significant out of pocket costs, that most cannot afford”, says Greg Feste.

Rezilient Direct is the first supplemental insurance provider to make purchase available directly from their site. Policies can be enrolled within 3-5 minutes, and a policy can be active at the earliest within just 24 hours.


Greg Feste on The Need For Supplemental Insurance

August 14, 2011 Leave a comment

Greg Feste is a cancer survivor, and an advocate for spreading awareness of the growing problem of being under insured.

All health insurance policies have gaps in them that require additional out of pocket expenses. According to the American Cancer Association, over 60% of costs associated with cancer are non-medical, therefore not covered by primary health policies.

“Most people have no idea that supplemental insurance even exists”, according to Greg Feste. Supplemental insurance is designed to cover regular medical expenses, from everyday costs, to costs that aren’t usually covered by the average insurance policy.

Historically, less than 8% of the households in the United States have a supplement insurance policy. With the economy being bad, many individuals are being forced to elect higher deductibles, and downgrade their insurance plans for policies that have cheaper premiums.

Advocate Greg Feste believes this, and has made it one of his personal missions to spread awareness of ever growing under insurance in the United States.

There are many different types of supplement insurance, specific types that cover cancer, heart attacks, strokes, catastrophic accidents, hospitalization, long-term care, and more. With many different catastrophic illnesses and diseases, coverage from primary health policies is very limited. When faced with new-age drugs and treatments, a lot of insurance policies will not cover them.

“These policies are a no brainer, they are all extremely cheap and they make a huge dent in paying medical bills in a time when people need them most”, according to Greg Feste.

Reasons to Have Supplemental Insurance

Protect against high out of pocket costs. Many catastrophic illnesses aren’t covered by primary health policies. With a supplement policy, it may cover significant expenses that the insured will have to pay out of their own pocket. Based on the cost effectiveness of this policy, the return is very much worth it.

It pays even if there is an overlap with the primary policy even if a something is covered by a primary insurance policy, a supplemental insurance policy will still pay the insured. How supplemental insurance works is, it is paid as particular benefits are incurred.

So, if there is a hospitalization stay involved for example, the supplemental insurance policy will pay the insured directly for it. If there is an overlap, the insured can use that money for whatever they choose, whether it is used to pay for medical expenses, a car note, or the monthly mortgage payment.

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Greg Feste Announces New Products for the New Rezilient Direct Website

August 3, 2011 Leave a comment

The Rezilient Direct CEO Greg Feste announces the new products Rezilient Direct will be offering from their new and improved website, set for launch in the fall.

Aug 03, 2011 – Greg Feste’s Rezilient Direct is the first company to make supplemental insurance available for purchase, directly from their site. With their concept “Click Today, Covered Tomorrow”, which means that clients can go to their site, and purchase a policy from their home, and be covered by that time the next day.

“These products are what we call jet issue, most supplemental insurance policies ask just a few general health questions, that determine if the applicant is eligible. After we get these questions out of the way and determine eligibility, our customers can apply right there, and have an issued policy within a day”, says Greg Feste

They will be offering the following products:

Critical Illness: This covers all catastrophic diseases from cancer, heart attacks, strokes, as well as many other significant illnesses.

Accident: This product will basically cover all types of accidents that result in an injury that requires medical attention including emergency room visits.

Emergency Care: This will provide coverage that will protect against emergency room visits, as well as more catastrophic medical needs.

“We are excited, and very anxious to launch our new products”, says Greg Feste, the CEO and Founder of Rezilient Direct.

“There are many, many people in this country that are uninsured, let alone under insured. Being under insured in my opinion is one of the major problems within the health care industry as a whole, and the products we are offering fill that essential gap that determines between receiving care, and not receiving care”, says Greg Feste.

Supplemental health insurance is designed to fill, as well as provide additional coverage that major medical insurance does not cover.

Not only are the Rezilient Direct products essential to a health plan, but they are extremely cost effective. An entire family can be covered for cancer, accidents, emergency room visits, as well as many other catastrophic conditions for less than $40 a month in some cases.

“These policies are so incredibly beneficial, for so little cost, for a policy that will protect an entire family from costs that cancer will not cover, it only costs about $50 a month”, according to the CEO Greg Feste.


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Cancer Coverage: More Than Just A Sale, Says Greg Feste

July 10, 2011 1 comment

Cancer can be a powerful motivator – just ask Greg Feste, who was diagnosed with cancer in December 2007. Two months later, Feste launched his benefits brokerage, specializing in cancer insurance.

“At the time I had a supplemental cancer policy in addition to my major medical, so I learned first hand how these policies work,” says Feste. “At the end of the day my treatment did not cost me a penny out of my pocket.”

Feste’s diagnosis: hairy cell leukemia, a rare form of blood cancer. His treatment was successful, and he has been in remission and cancer-free for two years. His brokerage, Austin, Texas-based Rezilient LLC, has thrived as well, mostly by putting cancer coverage first and foremost.

In the early days, Greg Feste recounts, he literally stood up to serve as an example of a cancer patient determined to beat the disease. “I did presentations while I was in chemo,” he recalls. “One time, I was out there doing a group presentation for our cancer products with my pump on. You know, I sold a lot of policies that day.”

Taking a diversified, portfolio-based approach helped too. Feste explains: “What I found was that most people who sell in the worksite hook up with one carrier and sell just that carrier’s product. Because of my background in finance, I realized there’s just no way one company can have all the best products in every market. It’s just impossible. So we went out there and found the best product in each segment of the market. Then we put together a portfolio of the best offerings, starting with cancer insurance, disability, and so on, that gave the best benefit for the right price.”

In time, Rezilient added enrollment services, and now enrolls major medical coverage on behalf of referring brokers as well as their own voluntary products.


Cancer products 101

Today there are two types of cancer products on the market. One is a lump-sum policy where the insured buys a face amount and gets that amount as a lump-sum payment upon diagnosis, just as critical illness coverage provides. The other pays a smaller amount upon diagnosis and then pays benefits on an ongoing basis based on treatment protocols. These include benefits for facility confinement, anesthesia, and so on. And according to Lydia Jilek, Unum’s director of product development, “many cancer-only policies provide for a waiver of premium as well as a range of optional provisions such as a first occurrence benefit that pays a lump sum upon initial diagnosis of internal cancer.”

Unum’s policy also provides benefits for experimental procedures.

Jilek also notes two ways in which individual cancer-only policies offer additional flexibility. First, they are individually owned so employees can take their coverage with them when they leave; and second, most policies can cover an employee’s spouse and children as well. They also provide for a lower premium point than a critical illness policy, which would cover more conditions.

Unum is currently looking into developing a new group version of its voluntary cancer policy, according to Jilek, that would include both a lump-sum option and a schedule-based option. Their two-pronged intent: to refresh the product and create a new group product to sell.

At Rezilient, Feste has chosen to sell “Cancer Plus,” Humana’s worksite benefit coverage, because it was one of the first indemnity/cash hybrid products. According to Greg Feste, “you pick an amount up to $50,000 upon diagnosis, and it resets every year. So if you go through the first year, you get to reset the second year and get a second $50,000 benefit upon diagnosis of a different cancer.”

Flexibility in pricing is important too. For example, Aflac offers different products at different price points. “Research we have done over the years has shown us that when employees sit down to talk about these types of benefits, they like to have the ability to pick what’s right for them. So we’re very much into providing those options and choices,” says Karen Riedel, 2nd V.P. of product marketing at Aflac.

The last time Aflac’s cancer line was revised, an analysis of cancer treatment patterns led to an “aha” moment, according to Riedel. “Most cancer plans that pay for ongoing benefits pay for daily treatment, but we noticed that cancer is not treated daily anymore. For example, if you look at breast cancer, they might get treated once a month or every two weeks.” So Aflac switched to a system that pays less frequently but provides greater benefits. “Our current cancer plan provides up to 50% more in treatment benefits just by changing the way we pay them,” Riedel says.

And as part of a desire to stay on the cutting edge, Aflac now pays for vaccines when they come onto the market – specifically Gardasil for cervical cancer right now.

Getting motivated

Why should brokers sell cancer insurance? For the best reason of all – because it’s a product that everybody needs. Says Greg Feste, “I don’t care how good your health insurance is, you’re going to get hit with major expenses. You don’t understand that until you sit in these oncology wards and you hear these stories of people who have mortgaged everything to pay their medical bills, or are facing bankruptcy or other financial difficulties.”

And while some markets tend to favor cancer insurance more than others – such as the health care industry, schools and government entities – it isn’t necessary to target sectors or types of employers. Any group that offers voluntary benefits should include a cancer policy in what it offers. As Feste points out, “everybody fears cancer. Everybody knows cancer treatment costs a lot. So unless you have a plan that’s 100%, it’s very rare that you can’t convince a benefit person to allow you to bring cancer [coverage] in for their employees.”

Once in the door, the first thing Rezilient does is look at the client’s core plan and make sure they understand it thoroughly, “because we need to match our voluntary products with how their core plan is set up,” says Feste. “Once we do that, we can see the holes in the plan, and know that somebody could be at risk if they do get cancer. So cancer becomes pretty much the first product. Then we coordinate with other products, like CI or heart attack and stroke, to cover other things that would be a concern. We also marry an accident policy to our cancer and heart and stroke coverage, because many of our clients have families, and this kind of arrangement protects the whole family. But cancer is our No. 1 product.”

By and large, Rezilient’s cancer products do about three times as well as the firm’s heart attack and stroke products, Feste estimates.

Brokers also need to realize that it’s more than just a sale, Feste advises – it can really change someone’s life when you bring them a benefit check. “If someone’s making $40,000 a year and they have insurance – maybe it’s 80/20 – and they’ve got $45,000 in bills, it means they’re out of pocket for $9,000 off the top. Many people just don’t have it. So when you bring them a $10,000 check for their treatments, they think they’ve won the lottery. It’s rewarding.”



What people believe about cancer

Paying for treatment is among Americans’ top concerns about cancer. If they were to develop cancer, Americans would be most concerned about:

Quality of life: 75%
Being in pain: 72%
Paying for treatment: 69%
Dying from it: 68%
Leaving family in debt: 59%Being unable to work: 61%


Less than half of Americans believe their insurance plans would cover the full cost of treatment.

Only 41% of Americans believe they would be covered for care in a community cancer clinic, where 84% of cancer treatment actually occurs.

More than six out of 10 Americans could not afford $1,000 a month for cancer care, and more than eight out of 10 could not afford $2,500 a month.

Six out of 10 Americans say they would have to go on government assistance to pay the cost of cancer care.

Source: Community Oncology Alliance. Results of a representative phone survey of 1,022 Americans 18 years of age or older conducted in June 2009.