Michigan Cancer Insurance

As we go through our daily lives, options for insurance are everywhere – from the actor who asks through our television if we’re in good hands, to the radio voice who tries to lure us into a phone call for an insurance quote. However, one type of insurance not being touted or advertised is cancer insurance, which remains much like life insurance in that many people choose to avoid the subject until it’s too late to matter. At Frank the Insurance Man, we understand the reluctance to the topic of cancer insurance, and encourage our clients in Troy, Rochester, and Sterling Heights, as well as the surrounding areas of Michigan, to let us explain the benefits of this type of insurance policy, so you can be well-informed and prepared in the event you should ever need it.

Defined as simply as possible, cancer insurance is “a type of supplemental insurance policy that helps reduce the costs of cancer treatments.” As a relatively new option in the insurance industry, cancer insurance was never meant to replace traditional health insurance, but rather, to act as a complimentary policy to an existing policy. With an increase in the number of cancer diagnoses, this type of insurance was created in response to growing need for a way to help afford the costs of cancer treatments not covered by traditional healthcare policies. Without this type of insurance, many people with cancer would not be able to afford the costs of their treatments, and would be deprived of additional years of life.

One of the most important questions when considering a cancer insurance policy is whether or not it’s a necessity for you. Things to take into account before making a final decision include your risk factor for developing cancer, and whether or not other insurance options are available to your existing policy that may offer similar coverage. Another thing people should understand before purchasing cancer insurance is what the policy covers in the event of a cancer diagnosis, and how the financial burden of treatment will be met without a policy in place. Ultimately, all insurance policies are created as protection in case of an unfortunate incident and having cancer insurance is only a piece of paper until a cancer diagnosis is made. It’s at this point that the same piece of paper brings with it the hope of a longer life and more cancer-free days.

By far the most popular health insurance plan in Michigan are the doctor co-pay plans. These plans most resemble group health insurance provided by a consumer's employer. Although there are some minor variations from traditional group coverage these plans offer the highest level of benefits for individual health insurance in Michigan.