Cancer Insurance

Cancer insurance is a supplemental health plan that is designed to help you pay for the excess costs associated with the treatment of cancer.

While all of the health insurance plans we sell will cover you for cancer in the same fashion as any other disease, there are some very sound reasons for adding this type of coverage to your plan.

•	Most of you do not have disability insurance. A Cancer Plan or Critical Illness Plan can offer you up to $50,000 in lump sum payment. If you cannot work, how will you pay your bills. Do you have a year of salary saved?
•	Insurance plans pay for accepted, common, FDA approved treatments. Guess what - a lot of people are still alive today because they received experimental and alternative treatments that they had to pay for themselves. This plan will pay for treatments even if they are experimental.
•	There might also be child care expenses, travel and lodging to treatment centers.
•	If you are uninsurable but have not had cancer before, you can still get this plan.
•	The rate you pay when you purchase the plan does not go up as you get older.
•	I hate to say it, but men have a 1 in 2 lifetime risk of developing cancer and for women the risk is 1 in 3. These plans are guaranteed renewable. The only thing that has a higher certainty of payout is life insurance (if you hold it long enough).

Three Types of Cancer Plans

1. Lump Sum - pays out a one time, lump sum upon diagnosis

2. Renewable Annual - our renewable plans pays out up to $50,000 in benefits per year. It does not have a schedule where you can only get a certain amount each month. If you need $20,000 the first week for chemotherapy, you can get it. It keeps paying until the benefit is used up. Then, it renews the next year with another $50,000.

3. Supplemental Cancer Plan - in my opinion, these plans are next to useless. This is the type that advertises on television with the water fowl (hey, I don't need a law suit). They pay fixed amounts each month. Usually, the amount they pay would not cover one day of treatment. Clearly, we do not choose to sell these plans.

Which Type of Cancer Plan Should I Buy?

If you are someone who has had difficulty obtaining health insurance and have one of our limited benefit health insurance plans, you should get a renewable annual benefit plan. The plan we offer also has a rider where you can get up to $25,000 in lump sum payment in addition to the rest of the benefits. So, you have the best of both worlds.

If you have a good major medical plan, I would opt for the lump sum payout. It gives you maximum flexibility as to where you can use the money.

Is Cancer Insurance Expensive?

A 45 year old can get a lump sum plan that pays out $25,000 for about $20 a month. Considering the protection, it is relatively inexpensive.

Critical Illness Insurance

Critical illness insurance pays out a lump sum for cancer, heart attacks and a list of other critical medical problems. However, these plans are medically underwritten. If you have a significant medical issue that prevented you from obtaining health insurance, chances are you will not qualify. But, if you are healthy, ask me for a quote. They do cover a lot of medical problems. Some people use them in cases where they cannot get disability insurance.

Where Do I Get More Information?

You can give me a call at 800-986-4786 or send me an email by clicking here.

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Cancer Insurance

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