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Cancer Insurance Policies

Cancer Insurance Policies

Liljenberg Insurance

Cancer insurance is defined as a type of supplemental health insurance. Long term care insurance is another common type of supplemental health insurance. A cancer policy of insurance is designed to provide a patient with coverage for costs associated with the care and treatment of cancer in all of its various forms. In some instances, cancer insurance supplements a health insurance plan provided through a person's employer.

Who Benefits from a Cancer Supplemental Insurance Policy?

Cancer related insurance coverage benefits a person who maintains more limited standard health insurance coverage. The costs associated with the treatment of cancer can fairly quickly exceed the benefits available through more standard policies of health insurance, exposing a patient to personal responsibility for outstanding medical bills.

How Cancer Supplemental Coverage Works

Because cancer coverage represents a supplement to another type (or types) of insurance, compensation or benefits associated with this type of insurance are paid out only after the primary policy's benefits are exhausted. In other words, if a patient faces a $200,000 bill for certain cancer related treatments, and a primary health insurance policy paid for $120,000 of those costs, the remaining $80,000 in charges can be submitted as a claim to the cancer supplemental insurance company.

Different Types of Cancer Supplemental Policies

Some cancer supplemental insurance policies are designed to provide coverage for specific types of cancer, while excluding others. Another primary way of delineating between different types of policies is the cap on benefits. Less expensive policies have a lower cap on the amount of money that will be paid on a claim related to cancer treatments.

Major Benefits

A stark reality is that the costs associated with the treatment of different types of cancer are very high in the vast majority of cases. Time and time again, traditional primary health insurance policies simply do not afford coverage to deal with the total costs associated with cancer treatment. As a consequence, in the absence of a cancer supplemental insurance policy, a person being treated for cancer can end up with the added problem of a significant amount of unpaid medical bills.