How Cancer Insurance Pays For Things Your Health Insurance Won’t

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Most people today have access to supplemental benefits through their employers. Companies like

AFLAC and Colonial Life offer voluntary insurance lines that employees can enroll in at the same time that they are signing up for their group health insurance. Their employer then simply deducts the premiums out of their payroll. If your employer doesn’t offer voluntary benefits, you can find all kinds of standalone policies in the individual insurance market.

There are many kinds of supplemental insurance, such as hospital indemnity products, critical illness riders, term, and whole life insurance, and also accident insurance. There is also cancer insurance usually offered and some people might overlook the value of this insurance, but the reality is that more than 1 in 3 people will get cancer some time during their lives. It is also a reality that your health insurance doesn’t cover all of the expenses that you are likely to incur while battling cancer. Let’s take a look at a few of the great benefits that an inexpensive cancer policy can provide you.

Lump-Sum Benefit

Nearly all insurance plans these days have a deductible to meet. If you are lucky enough to work for a very large employer, your deductibles might be quite reasonable – perhaps no more than $1000. However, many small businesses have felt the pinch from expensive health insurance and so it’s more common today to find many companies offering plans with deductibles from $2000 – $5000 in an effort to control premiums.

An incidence of cancer makes it very likely that you will hit your deductible. Initial diagnosis often requires expensive things like diagnostic imaging, as well as lab work and consultations with an oncologist. In many cases, surgery may follow, and just a single night in the hospital can make you easily reach your deductible. When this occurs, the last thing you want to be worried about is money. You will need all your strength and energy focused on your treatment and recovery.

That’s where a lump sum benefit comes in handy. Many policies these days offer a lump sum benefit of $2500 – $10,000. At first diagnosis, your cancer policy will kick out a check to you. You then have cash on hand to meet your deductible, cover lost time from work, and pay for other miscellaneous expenses.

Travel and Lodging

Fortunately in the United States, we have many fine cancer treatment institutions. For example, in Texas, there is the M.D. Anderson facility in Houston, where people come from all over the world to get cutting-edge treatments in their battle with cancer. Even if you live in Fort Worth, which is about 5 hours from Houston, you will have costs for travel, lodging, and fuel. Sometimes you may need to be near the facility for 6 or 8 weeks of treatment. Your travel and lodging expenses are certainly not part of any health insurance policy. With a cancer policy though, you often will have a per diem benefit to cover travel costs for both you and your family.

Experimental Treatments

When you are diagnosed with cancer, your oncologist will present you with treatment options. Sometimes standard treatments are all you need. However, if treatment is new or considered still to be experimental, you may find that your health insurance policy does not cover that treatment. You can be certain that any experimental treatment will be expensive. Look for a cancer policy that includes benefits for new and emerging medicines. You can then rest easy that you’ll be able to afford whatever treatment you and your doctor deem to be best for you.


Some types of cancers can require treatment that is disfiguring. Perhaps the most common of these is breast cancer. While many health insurance policies today do have some benefits for reconstruction after a mastectomy, not all policies will cover everything. Women with breast cancer face tough choices for things like lumpectomies, mastectomies, or double mastectomies. If the chance of cancer recurring is high, you may decide to have both your affected breast and your healthy breast removed as a measure of prevention. If that were to happen, your health insurance may not cover the surgeries to the healthy breast. This is where a reconstruction benefit comes in. Having this benefit will allow you to make choices that are based on your peace of mind and future good health, and not on whether or not you can afford any reconstruction not covered under your health insurance policy.

While these are some of the benefits of cancer policies, there are also benefits included that may duplicate your health insurance benefits. If your health policy covers a surgery, but your cancer policy also pays a surgery benefit, then this is just additional cash that you can use toward any expenses you have incurred because of your condition. Cancer policies are quite affordable, so do your research and find the policy that will help you sleep at night, knowing that whatever may happen, you are well covered.

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