Cancer Insurance

More people are diagnosed with cancer every year. Unfortunately, the physical and emotional toll of this disease is also coupled with financial burdens. Cancer insurance can help protect you from this burden, making it easier to focus on your recovery.

Keep reading to learn how cancer insurance can help you if you are ever diagnosed with cancer.

What Is Cancer Insurance?

Cancer insurance is a type of policy that helps you pay for costs associated with your cancer diagnosis. It isn’t intended to replace major health insurance, instead, it acts as a supplement to your current coverage. You can purchase cancer insurance as a stand-alone policy without having other health insurance as well.

How Does Cancer Insurance Work?

If you are diagnosed with cancer, there are many costs that your primary health insurance will not pay for. Some of these costs include:

Co-pays
Deductibles
Lost wages
Experimental treatments
Child care
Excess charges

For many, without cancer insurance, a cancer diagnosis can lead to bankruptcy even if they have health insurance. With cancer insurance, you can get help paying your expenses in a few different ways. There are three types of cancer insurance policies.

Types Of Cancer Insurance

These are the three types of cancer insurance:

Expense incurred policy – This policy pays a percentage of all covered expenses listed in the policy, up to the policy’s limits.
Indemnity policy – An indemnity policy is like an expense incurred policy, but it pays a specific dollar amount of each covered treatment instead of a percentage.
First diagnosis policy – This policy pays the policyholder a lump-sum upon cancer being first diagnosed.

Which type of cancer insurance you purchase will determine how your benefits are dispersed. Work with an insurance agent to determine which type of coverage suits your situation best.

Buy Cancer Insurance Today

Don’t risk letting the cost of cancer treatment ruin you financially. Prepare in advance by purchasing cancer insurance today. Alite Financial Professionals will help you sort through your options and choose the best plan.

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