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Lump-Sum Cancer Insurance

Since cancer treatments can be costly, you may be wondering how to cover expenses in the event of a cancer diagnosis. Luckily, lump-sum cancer insurance can help relieve some of the financial burden that comes with treatments. You may use this type of plan to help cover out-of-pocket expenses that your standard health insurance policy doesn’t cover. Here’s a closer look at lump-sum cancer insurance and how it works.

What is lump-sum cancer insurance?

A lump-sum cancer insurance policy pays out a fixed sum of money after a cancer diagnosis. It’s a supplemental plan you can purchase in addition to your health insurance policy. You can use the payout to help cover any medical and non-medical expenses as you go through cancer treatment.1 Aflac is pleased to offer affordable cancer insurance with a lump-sum payout.

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What does lump-sum cancer insurance cover?

Lump-sum cancer insurance may cover different types of cancer.

Lump-sum cancer insurance policy cost

The cost of lump-sum cancer insurance can vary greatly. Factors like your age, location, health history, preferred payout amount, and the insurance company you choose can all determine what you’ll pay for a policy. In general, however, premiums can range from $10 to $50 per month.2

How to use the lump-sum cancer insurance payout

As mentioned earlier, you can use the payout from a lump-sum cancer insurance policy to help cover any expenses you need, including:

Pay for medical costs your health insurance doesn’t cover

With a lump-sum cancer policy, you can cover various medical costs that your standard health insurance plan won’t cover. These might include co-pays, deductibles, lab tests, etc.

Replace your income

A cancer diagnosis may prevent you from working or limit your hours. Fortunately, the lump-sum cancer insurance payout can also help replace a portion of the income you lose.

Cover everyday expenses

In addition to medical expenses, a lump-sum cancer policy can help pay for non-medical, everyday expenses. Some examples of these expenses may include household bills, childcare costs, and transportation expenses.

Is a lump-sum cancer insurance policy worth it?

When deciding whether you should get a cancer insurance policy, it’s important to consider your unique situation and needs. If you have a family history of cancer, for instance, lump-sum cancer insurance may be worthwhile.2 Additionally, you may want to consider this type of policy if you don’t have enough savings to stay afloat financially in the event of a cancer diagnosis. Cancer insurance can give you and your family some much-needed peace of mind.

Get a quote for cancer insurance

The goal of cancer insurance is to protect your financial, physical, and emotional well-being. It can allow you to seek out the latest treatments and ease any financial concerns you might have.

Aflac offers lump-sum cancer insurance that lets you lock in excellent coverage with affordable premiums. For more information or a quote, don’t hesitate to contact an Aflac representative today.

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