Cancer Insurance

What is Cancer Insurance

Cancer insurance helps you live well while getting well. The need to scale back on work or take a leave of absence during treatment and recovery only adds to the stress. That's where supplemental cancer insurance helps. It assists with protecting you from financial hardship in the face of mounting cancer expenses.

Cancer insurance is a special type of insurance that provides limited coverage if you’re ever diagnosed with cancer. Generally, a cancer-specific policy covers a number of costs associated with your diagnosis and treatment, including hospitalization, radiation, chemotherapy, surgery, anesthesia, nursing care, blood transfusions, prescription drugs and medications. Keep in mind that you won’t be able to get cancer insurance if you’ve already been diagnosed.

Depending on how your policy is set up, your benefits may be paid out as you file claims for services or as a lump sum when you’re diagnosed. The question is, do you really need it? With cancer currently ranking as the number two cause of death in the U.S.

There are several reasons why you might want to invest in this type of policy.
  • You Have a Family History of Cancer
  • You Don’t Have a Family Safety Net
  • You Want to Supplement Your Existing Coverage

What types of cancer plan coverages are available

There are three types of cancer insurance policies: 
  • Expense incurred policy: A policy that pays a percentage of all covered treatments listed on the policy up to the policy limits.
  • Indemnity policy: The indemnity policy is similar to the expense incurred policy but instead of paying a certain percentage of all covered treatments, it lists a dollar amount of each individual covered treatment.
  • First diagnosis or first occurrence cancer policy: This policy pays the policyholder a lump sum payment upon the first diagnosis of cancer. No benefits can be denied due to a pre-existing condition if the cancer is diagnosed after the effective date of the policy

1 out of every 3 people in our country will be diagnosed at some point of their life's with cancer.

For every $1 spent to care for someone who has cancer only 66% is covered by Medical Insurance. Medical insurance will cover most medical expenses but, will not cover many experimental treatment & no non-medical expenses. While cancer insurance coverage varies based on the provider and policy details, most plans do cover both medical and non-medical expenses.

Medical expenses can include copays, extended hospital stays, lab tests, disease-specific treatments, and procedures like stem cell transplants or experimental treatments. Non-medical expenses can include home health care, loss of income, child care cost, and dietary restriction aids etc. Benefits from a cancer policy are paid directly to you and you can use the policy benefits any way you want to!

Our recommendation is to purchase a First Diagnosis / Occurrence Cancer Policy. These plans will provide from $5,000 up to $100,000 in a lump sum benefit. This is money paid directly to you to use any way you would like. (Replace lost income, pay bills, pay for experimental treatments not covered by health insurance etc.)
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Contact us for more information on how this policy can protect you and your family.
(864) 868-5194
Six Mile, SC 29682
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