Cancer Plans

While many positive steps have been made in cancer research, cancer treatments can be very expensive. Do you have the funds to pay for the hospital expenses, treatments, and prescriptions should you be diagnosed with cancer?

What is a cancer plan?

There are two types:

  • First Occurrence Cancer Plans feature:
    • Lump Sum benefit paid directly to the insured.
    • Benefits from $5,000 to $25,000.
  • Indemnity cancer plans:
    • Coverage for Inpatient and Outpatient expenses.
    • Transportation and lodging benefits paid directly to the insured.
    • Optional Benefits covering Intensive Care Unit and Initial Occurrence of Cancer.

The basic difference between the two plans mentioned above is the first occurrence plan pays a flat dollar amount to you upon first diagnosis of cancer giving you all of your money up front and you are free to do with it as you wish. The indemnity plan pays much less initially but pays a set dollar amount for each procedure, benefits also paid directly to you.

Who is at Risk of Developing Cancer?

  • Although nearly 80% of all cancers are diagnosed in patients 55 years and older, everyone is at risk. Since the occurrence of cancer increases with age, most people are affected as middle-aged adults. *
  • According to the National Cancer Institute, more than 12 million Americans have had cancer in their lifetime.*
  • 1,638,910 new cases are expected to be diagnosed in 2012 alone.*

What are the Costs of Cancer?

Cancer treatment can place a great financial burden on patients and their families. Hospitalization and medication costs need to be considered, as well as non-medical expenses such as loss of income and transportation to treatment centers.

  • In 2007, the National Institutes of Health estimated the overall U.S. annual costs for cancer at 226.8 billion.*

CANCER FACTS, According to the American Cancer Society:

  • Cancer is the second leading cause of death in the U.S.
  • In the U.S., men have an estimated 1 in 2 lifetime risk of developing cancer; for women, it’s about 1 in 3.
  • In the U.S., 1 of every 4 deaths is from cancer.
  • 577,190 cancer deaths are expected in 2012, more than 1,500 people a day.

*Cancer Facts and Figures 2012 Before determining the cancer coverage amount that’s right for you and your family, an agent can sit down with you and conduct an in-depth analysis of your situation. After considering other coverage and your wishes, he or she can suggest a cancer protection plan to meet those unique needs.