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When you hear the word "cancer", your mind probably goes right to the possibility of a disease that will strike you down at any moment. Did you know that cancer is not something that only strikes older people? It can happen to anyone, at any age. And did you know that breast cancer affects men as well as women? These facts are examples of why you should buy a Cancer Insurance policy now!
Advances in cancer medications and cures have come a long way, but they can be quite expensive.
Today, almost everyone is aware of the staggering cost of cancer. With an expected total cost of cancer care exceeding $150 billion in the United States alone, it's no wonder that so many are turning to insurance to help with those costs.
Understanding why you should buy a Cancer Insurance Policy now is the key to finding the right insurance policy for you and your family.
This article will break down what is Cancer Insurance, why buying a Cancer Insurance Policy now makes sense, the cost of policies, and some expenses that are covered by these policies.
What is Cancer Insurance?
Cancer insurance is a supplementary policy that pays out when you're diagnosed with cancer. It is a contract between an insurer and the insured.
Health insurance covers most expenses involved with diagnosing and treating cancer. Cancer insurance is a flexible supplementary coverage option that can help with medical bills and other financial needs. Cancer Insurance is a specialized form of supplemental insurance. It's not a standalone coverage plan or a replacement for a traditional major medical health insurance plan.
Why buy a Cancer Insurance Policy?
Cancer treatment costs not covered by insurance and other out-of-pocket expenses can result in significant debt that lasts long after treatment has ended.
Cancer patients may also face lost wages and other expenses during treatment. With a lump sum policy, you can use the benefit to cover any expense you want. The right type of Cancer Insurance can stop you from dipping into your retirement nest egg and savings and avoid possible bankruptcy and other unfortunate financial circumstances.
Who is a Good Candidate for Cancer Insurance?
Cancer insurance may be worth buying if you have an elevated risk of developing cancer, such as a history of cancer in your family. You won't be able to get coverage after a diagnosis, so if you feel the risk is high, it's best to look into it now.
How Expensive is Cancer Insurance?
The cost of a Cancer Insurance Policy depends on a number of variables, including the insurance company issuing the policy.
Premium amounts become expensive as you age. If you want to save money on your monthly premium, you should purchase it at a younger age. Of course, the longer you wait to sign up for coverage, the more at risk you are of getting cancer before you’re covered.
Experts say the average rates for cancer insurance are $20 a month for
people in their 30s, $40 for those in their 40s, and $60 for those in their 50s.
People in their 60s will pay an average of $90 a month. The main advantage
of cancer insurance is that having an extra $10,000, $50,000 or $150,000 to
cover the cost of treating the disease can minimize the financial stress of the
disease.
How to Find the Right Cancer Coverage for You
Before purchasing a cancer insurance plan, make sure you have good health
insurance coverage. Cancer insurance is designed to supplement your primary
health plan. If your primary health plan is poor, you may be better off buying
better health insurance than adding cancer insurance.
If you’re serious about buying a cancer insurance policy, you’ll need to do a little research and shopping to find the right policy for you and your situation. Cancer insurance plans cover a wide range of costs and treatments and services. Don’t assume what one cancer insurance plan covers is also covered by another cancer plan.
Why You Should Consider Purchasing a Cancer Insurance Policy
These are just a few of the expenses Cancer Insurance Plans may cover (plans vary):
o Co-pays.
o Deductibles.
o Hospital stays (especially lengthy ones).
o Visits to out-of-network specialists.
o Various tests, treatments, and procedures.
o Childcare.
o Dietary assistance.
o Travel and lodging when treatment is far away from home.
Conclusion
Several companies sell Cancer Insurance Policies. As an independent agency, we can do the heavy lifting for you. Find out more about what we do at our website We will find a suitable plan to meet your need and budget.
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