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Is cancer insurance necessary? Gilliam Insurance

Imagine hearing the words “you have cancer” ringing in your head. According to the National Cancer Institute, roughly 2 million people will be diagnosed with cancer in the U.S. with an estimated 120,070 expected cancer related deaths. There are a lot of measures that can be taken to reduce the risk, but there is no action that guarantees freedom from a diagnosis of cancer.

Cancer Care Costs

Cancer treatment costs, like everything else, are rising. There are multiple things that determine the cost of treatment that include diagnosis and what stage it’s in, where treatment will be received, whether it is a new diagnosis or the condition is a recurrence out of remission. There are additional outside factors that are necessary to consider including loss of income, potential travel and medication. As cancer rates increase, it is important to be prepared in the event of diagnosis.

Cancer Insurance Basics

Most Americans have health insurance and it typically covers cancer and a heart attack. So, why would you need a secondary, cancer-specific plan? The reason is pretty simple, all insurance policies are different. Which means that you may not, but it is important to evaluate your current coverage to help you make the decision. Read the fine print and understand what would actually happen to not only you, but your family if you were diagnosed with cancer.

>>Need help reviewing your current policy? Let me help. I am an independent agent, which means I work for YOU and your best interests.

A cancer policy as a secondary plan can help you to offset your treatment costs and help you keep your financial stability and reduce your stress during treatment.  A lot of cancer insurance payments are made at different phases of the treatment process. Other plans will pay you or your medical provider directly for treatment, so choosing the right plan is important for your unique needs.

There are two main reasons for seriously considering cancer insurance:

  1. You have a family history of cancer
  2. You do not have emergency funds set aside for medical emergencies

>>Related Reading: Why You Should Consider a Cancer Insurance Policy

Cancer Insurance Coverage

Cancer insurance will cover most types of cancer except for skin cancer. There are factors that could void the  insurance claim though, including if the cancer is caused by AIDS, HIV, or another sexually transmitted disease. It also may be affected if you have a pre-existing condition, so make sure you know exactly what your policy of choice covers.

It doesn’t matter who you are or how much money you have. Being diagnosed with cancer is a frightening experience for all involved. A cancer insurance policy can be a big help, not only for you, but your family as well. It can help you focus on getting well instead of the financial catastrophe it could be.

If you are looking for guidance on cancer insurance, feel free to reach out. As always, my services are free. I look forward to helping you!

Brenda Gilliam, Your Local Insurance Agent

Phone: 423-276-5807


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