- Posted by Laura Martin
- On October 11, 2019
No one wants to plan ahead for a serious health problem. But if you have a family history of cancer or are otherwise at a higher risk, you may be concerned that your basic healthcare plan won’t provide enough coverage in the event that you someday need costly cancer treatment. In that case, a cancer insurance policy might give you some peace of mind.
A cancer policy is designed to fill the financial gaps when benefits stop being paid or expenses are not covered under a basic health insurance policy. Cancer insurance can help pay for both medical and non-medical costs like co-pays, deductibles, lengthy hospital stays, diagnostics tests, treatments and procedures, child care, travel and lodging expenses, lost income and more. Cancer policies vary on eligibility requirements and on the specifics of what is covered and how payments are made to the insured. Some pay a lump sum when you receive a cancer diagnosis, while others pay for specific treatment and care expenses, either directly to the provider or to you.
Cancer insurance is not to be confused with critical illness insurance. A critical illness policy normally pays out a lump-sum for diagnosis of specific illnesses such as heart attack, kidney failure, or organ transplants. (These policies may also cover both medical and non-medical costs.) While critical illness and cancer insurance are different things, some companies offer a combined critical illness/cancer policy which is the best of both worlds.
Both of these products, Cancer Insurance and Critical Illness Insurance, are traditionally sold through Worksite Marketing. They are not available outside of an employer sponsored offering.
If you are interested in more information, email firstname.lastname@example.org or call 484-321-5752.