The need for and how to choose cancer insurance: how it differs from medical insurance and how it can help you cope with changes in cancer treatment.

Why do I need cancer insurance?

Which is more important, medical insurance or cancer insurance? As it turns out, cancer insurance is considered more important than medical insurance. Let's take a closer look at why.

Role and Limitations of Medical Insurance

Japan's medical insurance system, including the high-cost medical care reimbursement system, keeps out-of-pocket costs relatively low. Therefore, medical insurance that covers the full amount of medical expenses is not necessarily indispensable.

Role of Cancer Insurance

Cancer insurance, on the other hand, is designed to cover not only treatment costs when a person is diagnosed with cancer, but also living expenses due to a decrease in income. Cancer treatment tends to be prolonged, and in many cases it becomes difficult to continue working. Cancer insurance can help ease the financial burden and allow you to focus on your treatment under these circumstances.

What coverage should be emphasized in a cancer insurance policy?

There are two main types of coverage that should be emphasized in cancer insurance

Diagnosis Benefit and Lump-sum Payment: These are lump-sum payments received when you are diagnosed with cancer. It can be used not only to cover treatment expenses, but also to supplement living expenses and prepare for future treatment costs.

Treatment Benefit: A monthly benefit that is paid at a fixed amount depending on the type of treatment, such as anticancer drug treatment or radiotherapy. It helps stabilize living expenses in the event that treatment is prolonged.

In recent years, rider for uninsured treatment has also become increasingly important. Free medical treatment is treatment that is not covered by insurance and is characterized by high costs. However, there are cases in which you have no choice but to choose unrestricted treatment if you want to try the latest treatment methods or unapproved drugs. Adding a rider for unrestricted treatment to your cancer insurance policy can reduce your financial burden.

Points to keep in mind when choosing a cancer insurance policy

When choosing a cancer insurance policy, please pay attention to the following points.

Coverage: Check what kind of coverage is included, such as diagnosis benefits, treatment benefits, and survival benefits.

Premiums: Premiums vary depending on the coverage and the age of enrollment. Set premiums within a reasonable range.

Surrender Refund: This is the money that will be returned if the policy is cancelled. If necessary, choose a product that offers a substantial surrender value.

Renewable or whole life: Renewable policies are relatively inexpensive, but premiums may increase each time the policy is renewed. Whole life type: Premiums are higher, but coverage is provided for the entire life of the policy.

Free medical care rider: Check if the policy covers free medical care and under what conditions.

Does your cancer insurance policy cover changing cancer treatments?

Cancer treatment is advancing every day, and new treatments and drugs are being introduced. Therefore, your cancer insurance policy should also be reviewed to keep up with the changing times. It is important to review it regularly to find the right coverage for you.

Summary

Cancer insurance is very important to alleviate financial concerns in the event of a cancer diagnosis. Unlike medical insurance, it provides cancer-specific coverage, allowing you to focus on treatment with peace of mind when you are diagnosed with cancer. When choosing a cancer insurance policy, carefully compare and consider the coverage and premiums, and select the policy that best suits your needs.