When it comes to cancer health insurance, there is one underlying question that many people want to answer: who benefits more from such insurance coverage, the one buying insurance or the insurance providers themselves? Of course, you know what you want the answer to be, but what is the reality of the situation? Another question has cropped up relating to cancer medical insurance: for what is it worth to buy cancer health insurance coverage?
To find the answers to these questions, the history of cancer medical insurance should be briefly explored first. There used to be only three or four major companies offering this kind of insurance, but today there are around 15 who promote this option heavily and another 50 that still write their fair share of cancer medical insurance policies. When the concept of cancer health insurance first surfaced, agents would literally travel from city to city selling insurance for cancer. Their emotional appeal is what allowed them to make sales.
While times have changed, there is still a high amount of emotional selling when it comes to offering cancer medical insurance to customers. For as little as $ 25 per month, you can protect yourself from the devastating costs associated with recovering from cancer. Consider the rarity of cancer. What if you are blessedly never overcome by the condition? All your payments will be lost to you. If you do contact a cancerous condition and file a claim, the past 12 years of paying for cancer health insurance-which comes to $ 3,600-may result in a payment of only $ 1,000- $ 2,000. A majority of cancer health insurance companies today only pay out 60% on claims.
These facts leave you with a few important points to consider. First, is cancer medical insurance worth it to you personally? You may have a history of cancer in your family, which means you may inherit a greater disposition for contracting cancer. In this case, cancer health insurance could certainly benefit you and your peace of mind. The other consideration is finding a company that will pay out a larger sum on your claim in order to make paying for insurance worth it in the end. Of course, what you hope is that you never become a victim of cancer, but should the unthinkable occurrence, your cancer health insurance will be there to back you up if you have acquired coverage from a trustworthy company. Compare providers and their rates today to help you make an educated decision.
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Source by Luis Antonio Rosales