AmeriFed Insurance & Financial Services Blog
Cancer is one of the most fatal diseases around the world, second to cardiovascular diseases. According to the American Cancer Society, an estimated 1.8 million new cancer diagnoses are expected to show up this year. As anyone can get afflicted with this disease, one needs to be prepared by getting insurance like cancer insurance. Read on to know more about cancer insurance and its benefits.
What is Cancer Insurance?
This kind of insurance is relatively new and complements basic health insurance. Often called “specified disease” or “dread disease” policy, it offers benefits for cancer diagnosis and treatment.
Proper documentation (i.e., lab results and diagnosis) is needed to verify a potential policyholder. Cancer insurance will take effect after the insurance company receives the needed documents. There is also a waiting period after getting it before it comes into full effect.
Benefits of Cancer Insurance
Cancer insurance differs in coverage and cost. Thoroughly discuss the policy to understand the inclusions. To give you a summary, here are some of the benefits most cancer insurance has:
Newer policies now provide outpatient treatment benefits. Moreover, most cancer insurance will give holders a lump sum for medical and living expenses. The money is also used to offset lost wages, deductibles, and co-pays.
Eligibility for Cancer Insurance
As with every insurance, there are clauses as to how an individual can be eligible. Individuals are not qualified if they have a pre-existing condition that makes them susceptible to cancer.
Sometimes, individuals are also not eligible for this kind of health insurance if they have been diagnosed with cancer before. However, there are some exceptions to this clause. In some cases, people can become eligible if they are five or ten years free of cancer.
Moreover, people diagnosed with HIV or other health conditions are ineligible for cancer insurance. This clause is evident because they have an increased health risk.
No one wants to have cancer, but we cannot know if we’ll get it or not. It can afflict anyone regardless of a person’s family history or lifestyle. Contingency plans like cancer insurance are vital in reducing stress and financial burden when a loved one succumbs to cancer.
At AmeriFed Insurance & Financial Services, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (813) 848-9787. You can also request a free quote by CLICKING HERE.