A cancer diagnosis can be emotionally overwhelming, but it can also present a new financial challenge. When battling a serious illness, the last thing you need is financial stress, which is why cancer insurance can provide invaluable relief during such a difficult time. In honor of Breast Cancer Awareness Month, here’s what you should know about this specialty coverage.

What Does Cancer Insurance Cover?

While many people think their existing health insurance plans should cover a full range of health conditions, many families are unprepared for the costs associated with cancer care. Consider that, on average, employer-sponsored insurance plans leave individuals paying over $5,000 on out-of-pocket medical costs, including deductibles. Costs for cancer care can quickly exceed typical medical costs when you consider the diagnostics, imaging, hospital stays, and treatment that may be involved. Cancer insurance assists with deductibles and other out-of-pocket expenses, including some of the care associated with seeing out-of-network specialists.

In addition, these special policies can help you cover other unforeseen expenses, such as transportation and lodging for treatments that are located far from your home. It can even help you meet living expenses such as rent or mortgage, child care, and groceries. This is especially helpful if an income provider has cancer and they can’t get disability coverage, or their disability coverage is much less than what they’d typically earn. 

Who Should Consider Cancer Insurance?

Cancer insurance can benefit anyone and is an important safeguard to have in place. Since most people can’t purchase this type of insurance after they’ve already been diagnosed, it’s never a bad idea to seek extra coverage as a protective measure. With that in mind, people who are at a higher risk for certain types of cancer should especially consider the coverage. 

For example, if you have a family history of breast cancer, have tested positive for the BRCA1 or BRCA2 breast cancer-related gene mutations, or have another lifestyle factor that puts you at an increased risk, having extra insurance in place can help protect you financially if you ever need treatment. You can talk with a doctor about your individual risk factors for all types of cancer to determine if cancer insurance is a good fit for you.

If you’re considering cancer insurance, turn to Hummel Insurance Services in Oakland, IA. In addition to this specialty coverage, they also offer plans for motorcyclists, homeowners, drivers, and farm owners. As an independent agency, this team has been trusted since 1944 and offers policies from a wide range of providers to ensure you find the best coverage for your needs. Request a quote online or by calling (712) 482-6424.