Should You Buy Cancer Insurance?

When examining all the voluntary benefits made available to you, you may have noticed cancer insurance among them. You might not think too often about what would happen if you were to get cancer. But statistics show that you should. Did you know one in two men, and one in three women are likely to develop cancer in the United States? In most years, cancer is the second-leading cause of death in our country, behind heart disease (in 2020, the novel coronavirus takes the number one spot). Here are some more reasons you might want to consider cancer insurance.

Should You Buy Cancer Insurance?

Here are some reasons you might want to consider cancer insurance.

Cancer Insurance Covers More Than Just Medical Costs

You might be under the impression that your health insurance would cover most of the costs you would face if you needed cancer treatment. To an extent, this is true. But cancer insurance would cover far more.

Keep in mind that living with and treating cancer comes with an exceptionally high number of costs, and not all of them are explicitly medical. For one thing, you are more than likely to end up with more than your fair share of lengthy hospital visits that regular health insurance might not cover.

The field of cancer treatment is highly specialized. It follows that you might have to pay a visit to numerous out-of-network cancer specialists. Cancer insurance can cover these costs.

Then think of all the non-medical costs cancer treatment might entail. If you have children, they will likely need childcare in your absence. If the treatment you need is in another city or another state, then cancer insurance can help you pay for lodging and travel as well.

Do You Have a Family History of Cancer?

In light of the statistics we shared earlier about cancer, there is a good chance that it has impacted a loved one or two throughout your life. If these loved ones were your relatives, that’s something to take note of.

Most people believe that cancer is caused by environmental factors such as diet and proximity to tobacco smoke. This is undoubtedly true, but there is also strong evidence to support the notion that some people are genetically predisposed to certain kinds of cancer.

If you believe that cancer ‘runs in the family,’ investing in cancer insurance might be a wise idea. This is also true if you are a regular tobacco smoker, or someone who commonly eats foods known to be carcinogenic.

But if you have no reason to believe your risk of cancer is higher than average, your basic health insurance might provide you with all the coverage you need for the time being. Ultimately, it’s up to you to decide whether or not you need cancer insurance. We hope that the information we’ve provided you with today can help you make an informed decision.

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Malden Solutions has a wealth of expertise in providing employer insurance solutions, HR solutions, and individual insurance solutions to businesses both big and small. Our team of seasoned professionals can help you navigate the rapidly-changing world of insurance with ease. We partner with businesses and individuals throughout the country to provide our dedicated services for employee benefits but also work within our surrounding communities in Maryland, Northern Virginia, and Washington, D.C. Contact us today to learn more about how we can provide effective, dynamic solutions for your business.  Stay connected with us on Twitter, Facebook, and Linkedin.

This entry was posted on Friday, November 13th, 2020 at 2:07 pm. Both comments and pings are currently closed.