When you look at the statistics, a Cancer plan is certainly worth looking in to. There are some policies that provide a return of premium if you do not come down with cancer after a specified period of time. A Cancer plan can often make a difference of losing your home or being able to get the treatment you want.
If your family has a historical disposition of generational reoccurrence of cancers, it is highly recommended to secure coverage, even beyond conventional health insurance. The price tag is insignificant compared to the possible financial exposure of cancer treatment and recovery. Of course you have to secure coverage before the cancer event.
In sports there are "odds"... What are the odds of hitting a hole in one? An average golfer on a 200-yard par-3: 150,000 to 1. Odds of myself or David/Ted (above)... one in TWO... Ladies are lucky... it's only 1 on 3... So yes, "cancer insurance" is a great protection plan to own.
Let's compare Cancer insurance to protection plan that is growing in popularity, Critical Illness (CI).
Cancer insurance covers??.... YES... ding, ding, ding... cancer. Most benefits are paid out on a scheduled basis. Meaning you get "so much for each item eligible for a claim". Each treatment/service has a named value:
Chemo - So much per treatment.
Surgery - a specific amount.
Hospital stay - A specific amount per day. Possibly more for ICU.
& it goes on....
Critical Illness pays a lump sum upon diagnosis. There is no need to continually update the carrier about treatments, surgeries, & hospital stays. Think of it as upfront money vs. trickling in over time. Since Critical Illness Insurance typically ahs a benefit for Cancer, heart attack/stroke, and other life changing illnesses (like blindness & paralysis), the one policy can do a lot more for you over a lifetime.
Which is better, Cancer or Critical Illness insurance? As you will see in many of my posts... UNDERWRITING is the key. Always buy the most coverage for your monthly premium dollars based on the underwriting.
-gravy
.JPG){kind=avatar}
Let's compare Cancer insurance to protection plan that is growing in popularity, Critical Illness (CI).
Cancer insurance covers??.... YES... ding, ding, ding... cancer. Most benefits are paid out on a scheduled basis. Meaning you get "so much for each item eligible for a claim". Each treatment/service has a named value:
Chemo - So much per treatment.
Surgery - a specific amount.
Hospital stay - A specific amount per day. Possibly more for ICU.
& it goes on....
Critical Illness pays a lump sum upon diagnosis. There is no need to continually update the carrier about treatments, surgeries, & hospital stays. Think of it as upfront money vs. trickling in over time. Since Critical Illness Insurance typically ahs a benefit for Cancer, heart attack/stroke, and other life changing illnesses (like blindness & paralysis), the one policy can do a lot more for you over a lifetime.
Which is better, Cancer or Critical Illness insurance? As you will see in many of my posts... UNDERWRITING is the key. Always buy the most coverage for your monthly premium dollars based on the underwriting.
-gravy