Cancer policies

Why a Cancer Insurance Policy Makes Sense

The Real Risks

No one likes to think about being diagnosed with cancer. But the reality is that it happens far too often. According to the American Cancer Society:

• 41% of men and 38% of women will be diagnosed with cancer during their lifetimes.
• 87% of all cancers are diagnosed in people aged 50 or older.
• Cancer is the second most common cause of death in the U.S.

Even if you live a healthy lifestyle, the risk is there. And while survival rates continue to improve thanks to better treatments, the financial toll of cancer can be overwhelming.

The Real Costs

Cancer treatment is expensive — and not all costs are covered by Medicare or traditional health insurance.

• The costs of treating cancer are projected to rise 27% in the coming years.
• About 42% of cancer-related costs are indirect — things like deductibles, co-pays, travel, lodging, medical supplies, and lost income.
• The average out-of-pocket expenses for related conditions like heart disease and stroke exceed $20,000 per year .

In short, even if Medicare or your Medigap plan pays for treatment, you may still be left with significant bills that affect your savings and your family.

How a Cancer Policy Helps

A cancer insurance policy pays a lump-sum cash benefit directly to you if you are diagnosed with cancer or carcinoma in situ.

• Benefit amounts range from $5,000 to $75,000 (in $5,000 increments).
• The money is paid to you — not your doctor or hospital — so you decide how to use it.
• You can spend it on medical bills, travel expenses, household bills, or anything else you need during treatment.

This flexibility is what makes a cancer policy so powerful. It’s not about replacing Medicare — it’s about filling the gaps and giving you financial freedom when you need it most.

Added Protection: The Recurrence Benefit

Unfortunately, many cancers can return. With an optional recurrence benefit, you can receive another payout if you are diagnosed again after a period of recovery.

Depending on how long it’s been since your last treatment, you can receive:

• 25% of the benefit after 2–5 years,
• 50% after 5–7 years,
• 75% after 7–9 years, and
• 100% if it has been 9 years or more since your last cancer treatment .

This ensures you have continued protection if the unexpected happens again.

Who Can Get Coverage?

• Issue ages: 18–89 (last birthday).
• Coverage options: Individual, spouse/partner, children, or full family.
• Portability: Children (18–26) and divorced spouses/partners can convert their coverage to their own individual policy without re-applying or proving insurability .

Why Consider This Coverage?

1. Peace of Mind – Knowing that you’ll have funds available for expenses that Medicare and other insurance won’t cover.
2. Flexibility – Use the money for anything: medical bills, transportation to treatment, or simply keeping your household running.
3. Affordability – You choose the benefit amount that fits your budget and risk tolerance.
4. Family Protection – Policies are available for spouses and children, so you can extend this safeguard to the people you care about most.
5. Guaranteed Renewable – As long as premiums are paid on time, your coverage cannot be canceled.

A Smart Layer of Protection

A cancer insurance policy isn’t a substitute for Medicare Advantage or Medigap — it’s an additional layer of protection. Think of it as a financial cushion that allows you to focus on recovery instead of worrying about bills.

When you add in the reality that nearly half of adults will face a cancer diagnosis during their lifetime, preparing with this type of coverage just makes sense.

Next Steps

At Giardini Medicare, we specialize in helping you understand not just Medicare, but the supplemental options that protect you from life’s biggest risks.

If you’d like to explore how a cancer policy could fit into your overall plan:
👉 Schedule a free call with Aubry in our office  She's a whiz at setting up these plans!