Cancer

The Need for Cancer Insurance

What's worse-being diagnosed with cancer or discovering that your health insurance won't go the distance in covering your treatment? These days, with earlier detection and better therapies, cancer isn't the death sentence it once often was. But treating it is expensive, and health plans are increasingly placing caps on the maximum benefits they will pay, as well as other restrictions on coverage that hit cancer patients particularly hard.

What Are the Costs of Cancer?

Paying for the costs of treatment is not usually the first concern that comes to mind when someone is diagnosed with cancer, but for many, it becomes an important one. Some individuals with modest incomes and no health insurance are able to obtain Medicaid or other forms of assistance after diagnosis, and most individuals with health insurance will have a substantial portion of their costs covered. Nonetheless, many individuals face cancer without adequate health insurance, and even those with standard private insurance policies may face high out-of-pocket costs associated with deductibles, co-pays, and annual or lifetime caps.

Benefits from LICOA’s Cancer Indemnity plans are paid directly to the insured. Coverage is available for the insured, the insured's spouse and all dependent unmarried children under age 19, age 24 if attending an accredited school as a full time student.