Cancer Insurance can help protect you from the worst. Did you know In 2024, an estimated 2,001,140 new cases of cancer will be diagnosed in the United States and 611,720 people will die from the disease according to the National Cancer Institute? Worse, the average costs of treatment ranges from $25,000 to over $100,000. Wouldn’t it be great if there were some sort of program that would help you pay for this treatment, and help to protect the financial legacy that you have worked so hard to provide to your family? If you already have health insurance coverage from the VA, Medicare, or an ACA complaint health insurance program you are already on your way. But, out of pocket costs on these plans can still reach into the tens of thousands of dollars. Read on to find how we can help you!
Why Cancer Insurance?
Cancer insurance is a specialized policy designed to provide financial support in the event of a cancer diagnosis. While we hope you never have to use it, the reality is that cancer can affect anyone at any time. This type of insurance can help cover:
– **Medical Expenses:** Treatments, hospital stays, and specialist visits can be costly. Cancer insurance helps cover these expenses that might not be fully covered by your regular health insurance.
– **Non-Medical Costs:** Travel for treatment, lodging, and even child care can add up. Cancer insurance provides funds for these additional costs.
– **Loss of Income:** If you need to take time off work for treatment, cancer insurance can help replace lost income.
Key Benefits
– **Lump-Sum Payment:** Receive a lump sum upon diagnosis, which you can use as needed.
– **Flexible Coverage Options:** Tailor the policy to fit your needs and budget.
– **Support for All Stages:** Coverage isn’t just for advanced stages; it also includes early diagnosis and preventative care.
Can I Be Protected With Cancer Insurance?
Many people qualify for coverage. However, “insurance knockouts” typically refer to clauses or provisions in a cancer insurance policy that limit or exclude coverage under certain conditions. These “knockouts” are essentially exclusions or exceptions that specify situations where the insurance company will not pay out benefits. Common knockouts in cancer insurance policies might include:
- Pre-existing Conditions: Many cancer insurance policies exclude coverage for cancers that were diagnosed or treated before the policy was purchased.
- Waiting Periods: Some policies have a waiting period after purchase during which no benefits will be paid for a cancer diagnosis.
- Specific Types of Cancer: Certain policies might exclude coverage for specific types of cancer or provide reduced benefits for less severe forms of cancer.
- Non-Cancer Related Treatments: Treatments and medical expenses not directly related to cancer may not be covered under a cancer insurance policy.
- Secondary Conditions: Some policies might exclude coverage for secondary conditions or complications resulting from cancer or its treatment.
- Experimental Treatments: Coverage might be excluded for treatments that are considered experimental or not approved by relevant medical authorities.
- Lifestyle-Related Exclusions: Some policies may exclude coverage if the cancer is deemed to have been caused by lifestyle factors such as smoking or excessive drinking.
When considering a cancer insurance policy, it’s important to carefully read and understand the terms and conditions, including any exclusions or knockouts, to ensure you have the coverage you need. The experts at SBG Insurance Group can help you with this.
How to Get Started
If you’re interested in learning more about cancer insurance or want to review your current coverage, please contact our office at 941-456-1253 or admin@sbginsurancegroup.com. We have helped hundreds of clients get the protection needed to ensure their family’s financial future. Our team is here to guide you through your options and ensure you have the best protection in place. Contact us today.
SBG Insurance Group was able to find a policy for me as a 5+ year survivor of cancer. As someone who has gone thru the stressful process, I was so pleased to be able to get coverage at a very affordable rate, and the peace of mind is absolutely priceless!