Cancer Insurance
Insurance is a sort of relief or financial help for the grieving family incase of any inmates death. But in case of persons suffering from cancer, the position is quite different. Throughout their life they have to struggle with the various therapies of medications. But still there is no ray of hope for the family or the individual. The problem of cancer not only destroys the patient economically and physically, but also shatters the persons family in terms of economic and psychological problems. However, a new form of insurance related to the cancer ailments has given a sign of relief to the patients suffering from various types of cancer.
One may wonder to know that whether there is a separate insurance for cancer. Others may have noticed such an advertisement in the dailies, or may have been informed by friends and relatives who have opted for cancer insurance. Cancer has been a common ailment these days and in the United States of America, it is reported that nearly fifty percent of men have the risk of suffering from various types of cancer, and the women population have a greater risk of possessing at least sixty percent chances. Most of the states in the United States have recognized the various types of cancer insurance and its policies, but among all there is only one state which still has not approved the insurance policies relating to cancer.
Well it is not easy to have cancer insurance as and when one thinks to have it. First of all there are certain terms and conditions for an individual to possess the cancer insurance. Let us discuss a few of them below and their requirements. Cancer insurance is applicable to people only who till the date of commencement of the policy has not been diagnosed for the deadly cancer ailment.
The cancer insurance as the name itself indicates is applicable only if the person is diagnosed with cancer and no compensation would be given if the person is suffering from other ailments other than cancer.If the cancer is diagnosed before the commencement of the policy no coverage would be given under the cancer insurance policy.
Steps undertaken by the cancer insurance firms with respect to the coverage of their policy:
Once a person is suffering from cancer and wishes to have a life insurance, then the respective insurance company will take the full details of the medical report that will influence the cancer insurance policy statement.
Secondly they will always study the particular stage in which the cancer growth has reached and how advance the disease has progressed in the individual.
After obtaining the prior permission from the individual concerned the insurance companies will write to the doctor or the hospital concerned and ask for the medical details that are concerned with the cancer insurance policy.
Some of the insurance companies though they rely on the hospital medical examination and diagnosis report they would prefer to themselves conduct a medical examination of the insurer before they commence the cancer insurance policy.
When the cancer insurance policy is at first issued, the initial premiums of the policy will be really high, as this is the time which is of greater risk to the insurance company.
The disability discrimination act deals with more details and rules with regard to cancer insurance. This act is applicable to any individual if he or she is suffering from cancer or had cancer in the past.
First and foremost cancer insurance is applicable to people who have not been diagnosed with cancer on the onset of the policy. But there are some companies which deal in making policy with individuals who have already been diagnosed by cancer and has passed away nearly five years of recovery without any further treatment ahead. Each company has a varied range of benefits which are offered under different cancer insurance policies. The payment offered has also a wide variety and some may offer a single lump of money once the cancer diagnosis has been made.
American Family Life Assurance Company: A very famous cancer insurance company like the AFLAC, popularly called as the American Family Life Assurance Company of Columbus gives the insurance provider many of the benefits and advantages that include charges of cancer screening and payments, bills of hospitalization and regarding the treatments which involve radiation therapy and chemotherapy. The AFLAC cancer insurance premiums could also be paid regularly from ones monthly salary through the payroll deduction method. The lowest premium for cancer insurance offered by this company is $15.90 per month. The highest premium for the cancer insurance offered is $45.50 per month.
Protective Life Insurance Company: There is another company called as Protective Life Insurance Company which is Alabama based. This company also has the same minimum and maximum insurance premium as that of AFLAC. Any person claiming the cancer insurance from this company would receive 180 dollars for the cancer treatment in the hospital per day. The surgical operations costs that involve in treating cancer ailments are limited up to three thousand dollars per operation as per the cancer insurance claim. The cancer insurance policy also pays regular radiation therapy and the chemotherapy treatments limiting its payment up to three hundred dollars per day. This could be performed either at the hospital, or at the doctors clinic. The place where it is performed is not questioned by this particular cancer insurance company.
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