Cancer patients-- anyone here purchase cancer indemnity insurance?

Supplemental insurance providers say that they do a swift business selling cancer indemnity insurance. The practice has been around for over 50 years. Naturally, you can't get this insurance if you've already been diagnosed---so in purchasing it, you're helping to financially protect yourself against the massive costs of cancer (even if you have a major medical plan) in the event you do, one day, get diagnosed with cancer.

Ignoring aspects such as the flaws these policies expose in the health care system, I'm curious if anyone here had the foresight to buy such a policy, and if they're reaping the fully ironic benefits of it right now. I'm curious if it's been worth it or not, what your experiences have been.

we had purchased ours a yr before he was diagnosed... andonly because our daughter became an insurance agent. WOW am i glad we did, it took a lil red tape to get it going because they really frown on it being activated within the yr we bought it and had to really search to see if it was a pre existing , which it was not , so after that lil bout, it was really well worth it. it paid out good and will continue on any future diagnosis until he is 65. we pay like 17.00 a month per person.... it paid $500 for chemo treatments, and some for Dr visits , some for labs... it really was well worth it because youi have so many unexpected out of pocket monies ( gas , food , hotel) so I would recommend i to anyone . we use Liberty National...
hope this helps~
Karen

Karen-
Thanks for the input. I'm not familiar with the fine print on Liberty National's cancer insurance. Does it work in the same way that AFLAC's does, in that it pays you cash directly for certain treatments, and you can technically do whatever you want with the money, it doesn't have to be used for co-pays or other expenses, or is the set-up different?

Ross

You can use it however you need to. ours was the policy they upon diag. and dr certified and ( the red tape we had due to only having the policy right at a yr they paid 3500.00 and then also disability for I believe it was like 26 weeks with was like 1500.( not all at once on that it was several checks thru the yr...and then like $35. per dr visit and then milage for us because were opted todrive over the 100 mile radius. there was a max on the milage , but it paid well... now when setting up payments the hospital was told of the policy because they actually had to send some forms for us, and you could opt to have the insurance pay the medical payments and you get whats left... we opted to have it sent directly and then we paid the bills ourself. the milage is a set thing per yr. but the chemo/ dr is as needed and no limit the one time 3500 is a set fixed payment. Aflac is here in Columbus where we liveand can get info if anyone nneds as well as liberty national... I believe both are greatand recommend an additional poilcy to anyone ... I actially have cridical care, cancer and one other one ... on myself, hubby only had the cancer because he has hypertrophic Cardiomyopathy so he was unable to get urgent care... I can not imagine not having insurance ~

Thanks again for the input, Karen.

Wife purchased AFLAC cancer insurance at work. She then developed Follicular Lymphoma which was diagnosed 10 years later. Upon being sent the Pathology Report, AFLAC sent her a check for $10,000.00. The basic coverage supplied $5000.00 of this amount and the rider that she purchased provided an additional $500.00 per year of being cancer free. The insurance also provides a yearly benefit of $75.00 each for my wife and myself for a cancer screening during the year (Pap Smear, PSA Test, etc). It also paid a set amount for each biopsy, hospital stay, anti-nausea drug and others.

In my opinion EVERYONE who's eligible should purchase this insurance. As they say, "if you live long enough you'll probably develop some type of cancer".

I have a cancer policy with CONSECO. I purchased it because it said that if you didn't use it in 20 years, you would get your money back. I am not very good at saving, so I just considered it my savings account. Several years later, I was diagnosed with NHL. It paid an up front diagnosis fee, hospitalization fee, and chemo treatment fee. I don't remember the exact amounts, but they were paid directly to me. At the end of 20 years, the company contacted me and said that I had used my money during treatment, so there would be no further payments. I understood completely. I was glad it was there when I had needed it.
Then I was approached by a salesperson from the same company wanting to sell me a new policy. I explained to him that I had had cancer. He said if it was not in the past 10 years I would qualify for a new policy! My husband and I took out a family policy in 2006, and I am in contact with the company about my new diagnosis. I am a little concerned, but my agent assures me things are OK. I'll let you know. The first diagnosis fee is $2000 which will help cover my travel to & from treatments, a round trip of about 140 miles.

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I purchased a cancer policy from AFLAC about 4 years ago through work. This summer I moved to another state and due to the job market ended up un-employed for several months without the capability to pay the premiums (my first occurance was up to 9k I think).....I was diagnosed in Nov, 4 months after my policy expired. Very upsetting about my timing....but I would have bet I wouldn't have Cancer again.

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