Cancer Insurance / Financial Protection

Why Do I Need 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 Individual Cancer Insurance can help! It assists with protecting you from financial hardship in the face of mounting cancer expenses. Affordable cancer insurance can cost less than a $1 per day with most coverages.

Individual Cancer Insurance is a special type of cancer insurance plan that provides 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.
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  • You Have a Family History of Cancer
  • You Don’t Have a Family Safety Net
  • You Want to Supplement Your Existing Health Coverage

Affordable cancer insurance can cost less than a $1 per day with most coverages.
The Costs To Treat For Cancer Are High
The Costs To Treat For Cancer Are High


​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

What is the Chance of Being Diagnosed With Cancer In Your Lifetime

There is more then a 1 out of 3 chance of developing cancer in somone's lifetime. The chances are higher for men versus women of developing cancer. This is pretty scary: 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. The out of pocket costs for cancer continue to climb. While cancer insurance coverage varies based on the provider and policy details, most plans do cover both medical and non-medical expenses.

Medical expenses 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 Lump Sum / First Diagnosis Cancer Policy. These plans will provide anywhere from $5,000 up to $100,000 coverage paid to you in a lump sum benefit upon initial diagnosis. This is money is not paid or assigned to any hospital or doctor, this money is paid directly to you to use how you need too. (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 financially.
(864) 868-5194
Six Mile, SC 29682
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