Comparison
All three pay cash benefits, but for different events. Here's how they differ and how each fits with Medicare Advantage or Medigap.
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Hi, I'm Matt Matthew MacMillan, Licensed Agent · NPN 19951695This is a limited benefit policy for specified disease (cancer). It is supplemental, specified-disease indemnity insurance, not major medical coverage, and does not replace comprehensive health insurance. Policies typically include a waiting period (for example, 30 days after the effective date) before a diagnosis is covered, pre-existing condition limitations, and specific exclusions or reduced benefits (such as certain non-melanoma skin cancers or carcinoma in situ). See the policy for full details.
Important: Cancer insurance is a limited-benefit, specified-disease supplemental policy. It is not major medical insurance and does not replace health insurance or Medicare. Benefits, waiting periods, limitations, exclusions and availability vary by carrier and state.
| Cancer | Critical illness | Hospital indemnity | |
|---|---|---|---|
| Trigger | Covered cancer diagnosis (plus treatment on some plans) | Diagnosis of a covered condition, often heart attack, stroke, cancer and others listed | Covered hospital admission or stay |
| Typical payment | Lump sum and/or treatment benefits | Usually a lump sum | Fixed amount per day or per admission |
| Best matches | Cancer treatment, travel, lost income | Big costs after several serious diagnoses | Inpatient copays and deductibles |
| With Medicare Advantage | Helps with chemo/radiation coinsurance up to the out-of-pocket max | Helps with costs up to the max and non-medical costs | Offsets daily inpatient copays |
| With Medigap | Cash for non-medical costs | Cash for non-medical costs | Cash for non-medical costs |
Covered conditions, amounts, waiting periods and exclusions vary by carrier and state.
Not connected with or endorsed by the U.S. government or the federal Medicare program.
Many critical illness policies include cancer, sometimes at a reduced percentage. Check the covered conditions list.
Yes. They're separate policies and each pays by its own terms.
Email: matt@themacmillanagency.com
Important: Cancer insurance is supplemental coverage that pays benefits for covered diagnoses. It does not replace comprehensive medical coverage. Benefits, limitations and waiting periods vary by plan. This is a solicitation for insurance. By responding you will be contacted by a licensed insurance agent. The MacMillan Agency is not affiliated with or endorsed by the U.S. government, the federal Medicare program, or any state agency. Cancer insurance is supplemental coverage and is not a substitute for major medical coverage, and it does not satisfy the requirement for minimum essential coverage. Plans, benefits, limitations, exclusions and availability vary by state and carrier. Benefit amounts depend on the plan selected. Licensed in AL, AZ, DE, DC, FL, GA, IL, IN, LA, MD, MI, NJ, NC, OH, PA, SC, TN, TX, UT, VA, WA.
