Cancer Insurance, works just the way it sounds, to protect you from the financial ruins that often accompanies cancer treatment. Similarly to Critical Illness Coverage, with Cancer Insurance you will pay a monthly deductible and upon first diagnosis of cancer, the insurance policy will provide you a lump sum to spend as you determine.
These policies are stand alone and do not require you to have any other form of health coverage to purchase one. In the likelihood that you do have health insurance coverage, your Cancer Insurance would act as a supplement.
How Your Cash Cancer Plan works:
If someone on your policy – you or a covered member of your family – is diagnosed with a covered cancer1, you’ll receive a cash payment to use however you want. For instance, use your cancer insurance payment to help with:
- An unexpected loss of income or benefits
- Travel to national cancer centers or even to centers of excellence
- Trial or experimental treatments not yet approved by the FDA, but still important
- Personal home care and household expenses that you may incur as a result of a diagnosis
The same lump-sum amount applies for all covered family members, regardless of age.