More than one million people in the United States get cancer each year. One in two men and one in three women in the U.S. are expected to be diagnosed with the big C.
The numbers reflect a few things: First, people are living longer, and advancing age is a significant risk factor for cancer. Also, due to technological advances in screening, such as mammography for Breast Cancer and PSA tests for Prostate Cancer, its being diagnosed more often. These better diagnostic tools is the reason for some good news concerning cancer: While more people are receiving a cancer diagnosis, the death rates for the disease have been steadily going down.
Would $50,000 help if you were diagnosed with internal cancer?
If you were diagnosed with cancer, would you be able to cover rising treatment costs? Medical insurance is a great help, but there can be numerous expenses that your health plan doesn't cover, such as out-of-network treatments, home health care needs and experimental treatments. You also still have your regular, ongoing bills.
Cancer Insurance can help you pay for necessities such as:
An estimated 785,000 Americans will have a first heart attack and some 600,000 will experience their first stroke (American Heart Association). The vast majority will survive.
The financial consequences of surviving a critical illness are something few people are prepared for. Most health insurance policies come with deductibles and co-pays that can be as much as $6,000 a year. Prescriptions are not just costly, they are rarely fully covered. While you are undergoing treatment or recovering for an extended period of time, you will still have to pay your health insurance premiums. Also you will continue to pay rent or mortgage, credit card bills, school tuition, real estate taxes, food and utilities.
According to a Harvard study, many families with health insurance found themselves under-insured and responsible for thousands of dollars in out-of-pocket costs. The average out-of-pocket cost was $17,749 for all medically bankrupt families. Because most health insurance is linked to employment, a medical event can trigger loss of coverage. For patients who initially had private coverage but lost it, the family's out-of-pocket expenses averaged $22,568.
Surviving a critical illness today is more likely than ever, but can come with financial costs and uncertainty. A critical illness policy can help alleviate those worries by paying a lump-sum benefit when you are first diagnosed with a covered illness or medical condition. If you alleviate the financial concern it helps with a speedier recovery. The critical illness benefit can be used to cover your mortgage, monthly bills and living expenses, out-of-pocket medical costs or in whatever way best fits your needs.
Would $50,000 help if you were diagnosed with a Critical Illness?
Contact me if you would like a personal quote for a Cancer and or Critical Illness Plan.