Should I Get a Cancer Insurance Quote

cancer insurance
There are some health issues that not everyone thinks to insure against. Cancer, though it is estimated that two in five Canadians will develop the disease at some point in their life, is one of those issues. Cancer is all too common, but it is not always thought of as being a financial burden on the patient. Suffering from cancer can be financially debilitating for the patient and the patient’s family.

Too many people believe that cancer will never happen to them or they just don’t want to think about it, but approximately 21 people will be diagnosed with it every hour this year in Canada, so a cancer insurance quote wouldn’t go amiss for most Canadians.Nearly half of all Canadians who are currently facing a major health crisis, like cancer, are now struggling financially as a result of their diagnosis. Many people underestimate just how much the out-of-pocket health costs associated with something like cancer can add up, and too many Canadians believe the public health system will look after them. The truth is that a lot of the required at-home care and recovery is not always covered. A cancer insurance quote is free and non-committal, but it could help to ease the stress of predicting a financial problem in the case of a negative diagnosis.

A cancer insurance quote is usually actually a quote for critical illness insurance. The definition of critical illness is left up to each insurance company, but most include cancer, heart attack, and stroke. Other illnesses can also be included, so it is important to carefully read all of the policy terms for each insurance plan. Critical illness insurance typically involves a lump sum payout made to the insured after diagnosis to help with hospital fees, living costs, and anything else that may not get covered without an otherwise steady income.

Traditionally a critical illness insurance plan is sought before any illness has actually been diagnosed, but cancer is often unexpected and can become a serious problem before there’s even a chance to consider an insurance policy. Many insurance companies will not cover a patient who already has a life-threatening disease, but luckily there are several insurance companies, such as, that will provide a cancer insurance quote without a medical exam. This can make the process more efficient by saving the time that a physical exam might waste, and it can provide financial support even with the pre-existing condition.

A cancer insurance quote without a medical exam will often have a higher premium than one that requires proof of good health, but this is a much smaller price to pay than an entire retirement plan. Many Canadians who do not have any kind of critical insurance plan often turn to credit cards and personal lines of credit, borrowing from a loved one, or selling property. Some patients drain their entire savings account. Once on the other side of the disease, the added stress of a derailed retirement plan or education fund can be completely erased if find an insurance plan that doesn’t require a medical exam.

Sometimes life can throw you a curveball. This can be as positive as an unexpected promotion or a sudden windfall, but all too often it leans to the other end of the spectrum. Unfortunately for nearly half of Canadians this curveball will come in the form of a cancer diagnosis. It’s best to be prepared by getting a cancer insurance quote as soon as possible. In the very least, it’s important to know the insurance options should the worst happen without any preparation.

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0 comments on “Should I Get a Cancer Insurance Quote
  1. Lisa says:

    How much coverage can I get and can I have this plus my critical illness policy?

    • No Medical Life Insurance says:

      Hi Lisa, You can get up $100,000 of Cancer Insurance with IA Excellence and this coverage can be purchased on top of any Critical Illness insurance.

  2. Esther says:

    Can I get Cancer Insurance if I had a heart attack. If so how much is it?