And the answer is yes: life insurance covers cancer ! During this delicate moment in a person’s life, financial compensation can be very useful! It can help pay for the treatment and, at the same time, bring more peace of mind. After all, you and your family won’t want to be counting money at a time like this.
Thinking about it, today, on the blog, we will explain the main details about life insurance! Leave the doubt behind, read the text and find out how insurance compensation works for cancer cases.
How does life insurance coverage that covers cancer work?
Usually, we have the idea that acquiring life insurance is a kind of inheritance for death cases. However, this is not quite the case.
Most insurers in US, and in the world, also indemnify policyholders in cases of serious illness. And cancer is one of them!
You and your family, when contracting, can benefit in life in the following cases:
- Terminal illnesses;
- Permanent or permanent disability.
Cancer: what to do with life insurance money?
The indemnity money, despite not curing the pathology, can help the patient maintain quality of life.
After all, health plans do not always cover some types of cancer treatment. Which can mean many millionaire costs with daily hospitalization, consultations and medicine.
That is, the money can be used to pay travel bills to carry out the treatment. Additionally, it can be used for:
- pay for chemotherapy and other medications;
- pay for consultations with specialists in alternative medicine ( acupuncture, for example) ;
- buy food for a healthy diet.
The value given by life insurance that covers cancer can even be an ally in your personal financial life!
The person can use it to maintain the family’s quality of life, while unable to work.
And how does it work when the cancer is pre-existing?
First, most life insurance only compensates beneficiaries with medical conditions that arose after taking out the service.
In that case, the diagnosis of the disease must be made before you hire the service.
However, there are exceptions! One of them is when the insurer does not ask for examinations, medical check-ups of the insured during the signing of the contact.
For this reason, the country’s courts normally favor the contractors. This is because there is an understanding in the interpretation of the law that the insurer is still responsible for the patient’s pre-existing illness, having to pay the indemnity amount.
However, make no mistake! This situation is only valid for the beneficiary who has not acted in bad faith when signing the contract. That is, I did not know about the existence of cancer.
That way, the ideal is for you to prevent yourself! Don’t leave it in the hands of justice. Go to the doctor before purchasing insurance and, above all, review all the details and coverage of your contract.
Read the document specifications. Analyze the clauses carefully to find out the grace period and, above all, if the chosen life insurance covers cancer and other diseases!
New : currently, there are already insurances that cover pre-existing illnesses. However, you must evaluate the above items, and also flag your medical history on the Personal Health and Activity Statement (DPSA).
This mandatory questionnaire is your current statement of health to the insurer. Do not omit any medical information! Avoid trouble.