Advanced Cancer Insurance

Advanced cancer insurance is coverage for the individual that has been diagnosed with this disease. This type of policy is also known as dreaded disease or a specified disease policy. For someone with a strong family history of this disease, it is wise idea to look into a policy of this nature. Cancer insurance is not a substitute for major medical coverage, as many people may assume. With most options, there is a necessity to have a form of major medical insurance prior to obtaining this more specified type. "It shall be health to thy navel, and marrow to thy bones." (Proverbs 3:8)

The consumer should have a clear understanding of what his or her current agency or provider is willing to cover when it comes to cancer or other specified diseases. This will help the individual recognize what exactly they are looking for when it comes to advanced cancer insurance policy. Benefits provided with cancer insurance will be based on health care costs and expenses related to treatment. When looking into a new policy, the consumer should shop around. This will take a nominal amount of time and there is potential to save a lot of money and maybe even the life of the individual. Normally, there will be a higher premium rate for an advanced policy that provides more coverage.

Before agreeing to purchase coverage, the benefits should be outlined clearly. The consumer should make sure to understand what exactly will be covered when it comes to treatment and medical care. This individual should know what out of pocket expenses will be required in addition to what the advanced cancer insurance will cover. With some cancer insurance policies, a pre-existing condition will not be covered and not all types of the disease are covered. The consumer can expect waiting periods and time limits when purchasing coverage. The company will ask several questions prior to purchase. The individual has the responsibility to answer all of the questions truthfully. There are a few important terms that should be familiar when it comes to purchasing insurance.

Most often, the companies offer three different types of coverage. The first cancer insurance known as expense incurred will pay a percentage for all expenses listed up to the benefit maximum dollar limit. The second type of advanced cancer insurance is referred to as indemnity and will have a fixed dollar amount on each individual listed on the policy. The dollar amount is generally the same for each individual. The last type of policy is known as first diagnosis of first occurrence cancer. The benefits can not be denied due to a pre-existing condition after effective date and applicable waiting period.

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