What You Need to Know About Cancer Insurance
In Canada, 45% of men and 43% of women are expected to develop cancer in their lifetime; that is nearly 1 in every 2 people. Furthermore, according to the Canadian Cancer Society, as of 2016, cancer was responsible for 29.6% of all deaths in Canada.
These numbers sound bleak, but modern advances in medical science means that more and more people are able to beat cancer to go on to live full and healthy lives. The downside, however, is that this fight against cancer can take not just a toll on someone’s overall health, but also their finances.
Depending on your location and current medical coverage, the cost of treatments and drugs to battle the disease can be thousands of dollars, and with many treatments going on for a year or longer; this certainly adds up. And for those lucky enough to have coverage for most (if not all) of their medical treatments, what about additional deductibles or costs not considered “medical” treatment or care? Patients undergoing treatment may find themselves needing to miss work, which makes it difficult to pay everyday expenses and bills. This is all before the potential additional costs that medical treatments can add up that we never really think about, like transportation, child care, and more.
Nobody wants to be diagnosed with cancer, and as if this isn’t a big enough battle to face on its own, the costs of treatment and other hidden expenses shouldn’t be a toll that shapes the rest of your financial future.
How Can You Protect Yourself?
While family history and lifestyle can play a big role in your likelihood of developing cancer in your lifetime, there are a few ways that you can reduce your risks. Not only can they help reduce your cancer risk, but these steps can also improve your overall health:
Avoiding the use of tobacco products and smoking
Reducing consumption of red meat and eliminating processed meats from your diet
Reducing alcohol consumption
Limiting direct sun contact by wearing sunscreen or protective layers while outside
Limiting tanning bed exposure
Performing cancer screenings regularly and talking to your doctor about any concerns
Avoiding and protecting yourself from other infectious diseases such as HPV (the human papillomavirus), hepatitis B, and hepatitis C
Yet, despite knowing the risks and avoiding them, should you ever become diagnosed with a covered cancer, having cancer insurance through DASH Supplemental Insurance will help make sure you and your family are protected. The best protection is to be proactive and prepared by having a plan and coverage when you need it most.
What is Cancer Insurance?
At DASH, we specialize in supplemental insurance coverage, and cancer insurance is a type of exactly that: a supplemental coverage option that was created to help cancer patients with the unexpected costs they incur after a diagnosis.
While cancer insurance policies may differ between companies and areas, they typically include a lump sum payout after the policyholder is diagnosed or treated for one of the covered forms of cancer. This payment will be received in addition to any other insurance benefits that the policyholder may already have, and can be used at the recipients discretion in order to help pay for both medical or non-medical expenses
Treatment options for cancer can vary, and considering all of these can be a big task on its own. But then you also need to consider all the additional costs of treatment that may not be covered by traditional insurance, which add up and put you and your family’s savings at risk. This might include:
Costs of child and pet care while undergoing treatment
Transportation to and from facilities
Loss of income from being unable to work due to illness and treatment
Needing to take time off work to care for a sick child or family member
Self-care treatments and at-home soothing tools (ice packs, creams, heat pads, etc)
Adjustments and renovations needed for your living situation to help with recovery, mobility, and care
By having a cancer policy in place, you can have peace of mind in knowing that you are protected should the unexpected ever occur. And with the freedom that supplemental insurance brings, you can be sure that the payment you receive can be used exactly how you want, so that it best benefits you and your family.
Being diagnosed with cancer shouldn’t undermine your financial future, and cancer insurance is designed to help. Not only do we cover individuals, but we have plans for families as well. No matter what your lifestyle is, we can help you find the right option for you and your situation. Take charge of your protection by getting covered today.
Contact the DASH team today to learn more about your options when it comes to your cancer insurance. We are ready to answer all your questions and find the protection plan that is right for you.