cancer insurance worth the cost

Is Cancer Insurance Worth the Cost?

Is cancer insurance worth the money? Let’s take a look at some of the benefits.

Almost everyone has someone in their life who has been affected by cancer. Yet, you may be wondering if cancer insurance is worth the cost.

Treating cancer can be one of the most expensive medical costs. One way to help pay for cancer treatments is to purchase a cancer insurance policy.

Ask yourself this:

Does your family rely on your income? 

Do you have adequate savings to deal with medical problems down the road?

These are important factors to consider when deciding whether cancer insurance is worth the cost and right for you. Read below to learn how cancer insurance can help ease the financial burden. 

What is cancer insurance?

Cancer insurance is a supplemental insurance policy that offers benefits for expenses related to a cancer diagnosis. It is designed to fill in the gaps left by the limitations in your primary health insurance plan.

Cancer Insurance Benefits

There are two types of cancer insurance policies with differing benefits: benefits paid upon diagnosis and benefits for treatment.

Benefits paid upon diagnosis are paid in a lump sum. This type of cancer insurance policy allows you to use the money you receive as you see fit—meaning that it doesn’t have to go toward your treatment. You’ll know the exact amount that you’ll receive when you make a claim, so you can plan effectively. Benefits paid upon diagnosis can be used at your discretion to help:

  • Replace income lost from taking time off from work for treatment
  • Cover health insurance deductibles
  • Pay your mortgage, utilities or even groceries
  • Cover travel expenses needed for treatment
  • Any number of other options: your lump-sum payment is yours to use as you see fit.

Benefits paid for treatment are meant to help cover costs associated directly with your cancer treatment.

Contact an Independent Insurance Agent

If you’re diagnosed with cancer, the last thing you want to think about is the associated medical expenses. 

I will help you weigh the benefits of a policy against the cost and coverage to decide whether cancer insurance is worth it for you. Contact me to discuss your options at no cost to you.