Knowing if cancer insurance is worth the cost is dependent on a few factors.
Cancer insurance differs from standard health insurance coverage in that it will help cover costs for non-medical expenses related to cancer.
Below are more details regarding cancer insurance to help you decide if cancer insurance is right for you.
What It Covers
Cancer insurance is a supplemental policy that works in addition to your primary health insurance coverage.
While standard health insurance policies cover a large majority of medical expenses related to cancer treatment, it typically does not help with mortgage, daycare or transportation while cancer insurance oftentimes will help with costs associated with daily living expenses.
In general money you receive from cancer insurance coverage can be used in whatever way best suits the needs of you and your family.
Types of Cancer Insurance
There are three primary types of cancer insurance coverage, which include lump sum, expense-incurred and indemnity policies.
#1 Lump Sum Plan is coverage that provides you with a lump sum payout. The funds can be used however you choose from covering expenses to taking a vacation
#2 Expense-Incurred Policy is designed so that the insured individual receives a percentage of all eligible covered treatments until the policy is maxed out.
#3 Indemnity Policy is geared towards offering coverage for specific expenses incurred during the medical care after cancer diagnosis and payout occurs during the treatment process in incremental payments.
Cancer insurance coverage is highly recommended for individuals who have a history of cancer or are at increased risk of cancer due to lifestyle.
As with any insurance policy, cancer insurance coverage has certain criteria that must be met.
If you are between the ages of 18 and 85, it is likely you are eligible.
While there are some items that may prevent coverage, it is advised that you contact a policy representative to help you. Below are some instances for denial or coverage changes:
- If you currently have cancer or were diagnosed in the past, it is likely coverage will be denied.
- If the cancer you had was a form of skin cancer, you may still qualify for coverage.
- Smoking does not prevent coverage, but it can increase premiums.
Here’s Your Next Step…
There are many variables associated with coverage, so in order to determine your eligibility, click the button below to get a free detailed quote.
Get Your FREE Cancer Insurance Quote
eSupplemental.com offers a wide selection of cancer insurance policies from some of the top insurance providers.
Let us shop around and help you find the lowest rates on a policy that works best for you.
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