Is A Cancer Insurance Policy Right For You?

A cancer insurance policy is an additional policy designed to be carried in conjunction with comprehensive health insurance

. Like other serious medical issues, the treatment for cancer is never quick, easy, or cheap. A person diagnosed with cancer could receive months and sometimes years of difficult treatment. And the financial cost can be devastating to a family. The financial advantages of having a cancer policy could help keep monetary hardship at bay.

How Much Does A Cancer Insurance Policy Cost?

There are too many variables to place an average cost of a cancer policy. Different companies have different prices as well as different coverage. The age and health of an individual can also make a difference. There are also individual and family plans that vary the cost. Additionally, an employer may offer a cancer insurance policy to its employees at a discounted rate.

How Much Coverage Can a Person Buy?

The coverage for a cancer policy can range from $1,000 to $50,000, depending on the policy that is chosen. This is paid to the policy holder once a diagnosis has been made. There can be additional amounts paid to the insured based on their benefits package. For example, a person may qualify for a gas and lodging benefit if they receive treatment out of town.

Do Receipts Need to be Submitted for Reimbursement?

Some companies that provide a cancer insurance policy will make payments directly to the policyholder. They may also request receipts to be submitted for other benefits to be reimbursed. Other companies, and varied policies within a company, may not ask for any receipts. This is something to consider when shopping for the right additional policy.

What Factors Should be Considered before a Purchase?

A person should consider purchasing a cancer insurance policy if he/she is at a higher risk of developing cancer. Specific factors can determine what puts an individual in a high risk category. Smoking, being overweight, unprotected sex, and age are a few of the risk factors. Genetics and family history should also be considered.

Cancer is a serious medical issue and a comprehensive health plan will not cover all the expenses incurred while receiving treatment. This can lead to financial stresses that could be avoided with a simple cancer policy. There are many different companies to choose from, that offer this type of plan, and these companies offer different varieties of policies. Shop and compare what plan is best for particular life situations by requesting for quotations from some of the reputed and licensed insurance agencies.

by: cancerplans

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