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A Cancer Policy may be useless for many bur some companies recommend it as a policy supplement

No one wants to think about getting cancer and having to pay for costly medical treatment. No one, that is, except insurance companies that sell cancer insurance. One consumer group calls it useless. Some in the health insurance industry consider it a gimmick. But those who sell cancer insurance say it can provide peace of mind and additional coverage if the dreaded disease strikes. Cancer insurance is a small part of the overall health insurance industry — so small that the Health Insurance Association of America, the industry’s trade group, doesn’t keep statistics about the premiums collected for such policies.

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Featured

 Why You Don't Need Cancer Insurance

Health insurance companies today offer specialty insurance for lots of conditions, such as cancer insurance. Many people pay extra money each month on top of their regular health insurance payment so they can get special insurance that covers them in case they get cancer. If you have health insurance, you don't need to buy cancer insurance. Your current health insurance more than likely covers cancer! Why don't you pay for a specialty insurance that covers heart attacks? Because your normal health insurance covers heart attacks.

Articles of Interest

Do I Really Need A Cancer Insurance Policy?

Cancer insurance plans can come in different benefit options. Some cancer policies offer a traditional deductible and coinsurance provision that is specifically designed to be a primary source of coverage for your cancer treatment. While others offer a lump sum benefit that can be used to pay for a variety of expenses, such as medical bills, out-of-pocket costs, transportation to treatment centers, child care, and even experimental treatments.

How to Decide If Cancer Insurance Is Worth the Cost

This supplemental insurance product was designed to help reduce out-of-pocket expenses and bridge the gap between what your primary insurance does and doesn't cover. But the question is this: is it really worth it?

Much Cancer Insurance Is a 'Ripoff,' Massive Study by House Panel Finds

A massive study by the House Committee on Aging Charges that much of the cancer insurance sold in America is a "ripoff," in which policyholders typically get back less than 40 cents in benefits for every dollar in premiums paid.

Scammers Targeting Patients With Cancer

But Scott has had to deal with another level of aggravation, as the political consultant and patient advocate says she has been bombarded with text messages, sometimes five or six a day, and emails offering her participation in clinical trials that don’t exist, inviting her to enroll in fraudulent insurance plans and promising a cure for her cancer.

Resources

11 Things to Consider Before You Buy Cancer Insurance

Cancer insurance is becoming more and more common because many basic health insurance plans don’t cover all the costs tied to a cancer diagnosis. The question is: are the premiums you’ll pay for this type of policy worth the peace of mind it provides? Also, does the coverage justify the cost? And when does it make sense to buy cancer insurance?

3 Types of Insurance Policies That You Don't Need

One shocking reason cancer insurance policies can be a waste of money is that most cancer insurance doesn’t even cover skin cancer. And skin cancer is very common. Not only that, but cancer insurance most often doesn’t cover outpatient expenses related to cancer treatment. There's always the possibility that you will not get cancer at all. In those scenarios, you have to question exactly what you're paying for with these types of policies.