Why Cancer Insurance?
According to the American Cancer Society:
- In the United States, men have about a 1-in-2 lifetime risk of developing cancer; forwomen the risk is a little more than 1-in-3.*
- It is projected that on an annual basis over 1.6 million new cancer cases will be diagnosed.*
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As advances in cancer treatment continue, more and more people will survive:
- Approximately 13.7 million Americans with a history of cancer were alive in 2009.*
- The five-year relative survival rate for all cancers diagnosed between 2003 - 2007 is 68%, up from 49% in 1975-1977.*
- The National Institutes of Health estimated the overall costs for cancer in the year 2009 at $216.6 billion.
Although health insurance can help offset the costs of cancer treatment, you still may have to cover deductibles and copayments on your own.
Additionally, cancer treatment can cause out-of-pocket expenses that aren’t covered by traditional health insurance:
- Long-distance calls
- Household help
Meanwhile, living expenses such as car payments, mortgages or rent, and utility bills continue, whether or not you are able to work. If a family member has to stop working to take care of you, the loss of income may be doubled. ManhattanLife helps provide an important safety net in fighting the financial consequences of cancer that result beyond traditional health insurance.
* American Cancer Society - Cancer Facts and Figures 2014