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Accident & Health Insurance
After a cancer diagnosis, the last thing you or your family needs is to be stressed about finances. The out-of-pocket expenses associated with cancer recovery can add up quickly. And many health insurance plans don’t cover all the treatment costs of a cancer diagnosis.
Cancer insurance can help alleviate some of the financial burdens that come with a cancer diagnosis, while giving you or a loved one more time to focus on recovery. Learn more about cancer insurance, including how it works, what it covers, and how it may benefit you.
Cancer insurance is a type of supplemental insurance that’s used to offset the costs of cancer treatments. Benefits are paid directly to you rather than going through a doctor, hospital, or other health care provider. It can help reduce some of the out-of-pocket costs that come with recovery.1
There are typically three types of cancer insurance plans:
Some cancer insurance policies require a waiting period before benefits kick in. Check with your provider to find out if they have a waiting period and how long it’s for.
Depending on the provider and their policies, cancer insurance coverage will vary. Some cancer insurance products may provide coverage for both medical and non-medical expenses. Here are some of the costs cancer insurance often can be used toward:
Keep in mind that some policies restrict what types of cancer they cover and certain providers won’t offer coverage if you were diagnosed with cancer before applying for the policy or had cancer in the past. Read your policy carefully to determine what is and isn’t covered.
When faced with a cancer diagnosis, having the added support of supplemental cancer insurance could make it easier to focus on your health and recovery. Ultimately, the decision to get cancer insurance comes down to your unique circumstances.
Here are some reasons you might want to consider purchasing cancer insurance:
A cancer diagnosis can happen to anyone — no matter your age, health, or family history. So planning for the unexpected may better protect you for the future. In addition to cancer insurance, you might also want to assess the advantages of other supplemental health plans, like critical illness insurance and disability insurance.
1 “How to Decide If Cancer Insurance Is Worth the Cost” VeryWell Health, 2020
2 “Family Health History and Cancer” CDC, 2022
3 “Men and Cancer.” Cancer Treatment Centers of America. April 21, 2022. https://www.cancercenter.com/men-and-cancer.
This article is intended to provide general information about insurance. It does not describe any Metropolitan Life Insurance company product or feature.