First Diagnosis Cancer Insurance
Approximately 38.4% of men and women will be diagnosed with cancer at some point in their lives, according to the National Cancer Institute. This distressful statistic highlights the importance of having an insurance plan in place that will cover cancer treatment costs. First, you need to learn what First Diagnosis Cancer insurance is, why you need it, how you should evaluate potential policies.
What First Diagnosis Cancer insurance is. First Diagnosis Cancer insurance can help with the direct and indirect costs of cancer treatment. It’s a lump-sum cash benefit that allows you to choose when and where to spend the money to cover a wide-range of expenses, such as:
Why you need First Diagnosis Cancer insurance. Nearly everyone has experienced or knows someone who has experienced a cancer diagnosis. The good news is cancer screening and medical technology has greatly improved in recent years. However, with more advanced technology comes higher costs. Medical health insurance is a great start, but cancer patients can still face unexpected medical and non-medical expenses. They can range from experimental treatments to travel costs to and from doctor appointments. Basic bills can be a struggle to pay if your income is less from taking time off of work. With a lump-sum cash benefit from First Diagnosis Cancer insurance, you can have the peace of mind knowing that the financial burden will be less.
What to look for in a First Diagnosis Cancer plan. The first step is to learn your individual risk factors for getting cancer, such as family history. If your risk is high, look at what your medical health insurance plan covers. If you decide First Diagnosis Cancer insurance is right for you, look for a policy that covers both in-hospital cancer care and outpatient care. Many cancer treatments, such as chemotherapy and radiation, are administered on an outpatient basis. Measure the cost of the plan in relation to the value it offers, and check if there is a waiting period for coverage. For example, you only receive benefits if you are diagnosed with cancer after your policy is in effect. No policy will pay for care if your cancer is diagnosed before you purchase coverage or the policy is active.
And remember, it’s a “first diagnosis” plan: “If you have been diagnosed with a cancer within the last 10 years, you will not qualify for this plan,” says Erin Bueltel, product specialist at Medico.
Contact us to learn more about the right Insurance coverage for you.
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