Our office is investigating wrongful denial claims involving Cancer Insurance Policies.
Companies that issue cancer policies include: Conseco, Colonial Life and Liberty National, and Life Investors Insurance Company of America, Central United Life Insurance, Life of Georgia, Commonwealth Life Insurance, and Dixie National Life Insurance Company. Our office has brought companies to justice for wrongly shorting cancer victims for money that there were owed. Many people don’t know if a company may have cheated them.
Specified disease policies, sometimes called “dread disease polices,” pay benefits only when the insured person is diagnosed with the specific illness or condition named in the policy. Typically, policy provisions are very specific and may limit benefit payments to narrowly defined conditions. For example, a policy might only provide coverage if an insured person is admitted to hospital for a condition or after a pathology report confirms a physician´s diagnosis.
Specified disease policies are not a substitute for comprehensive health coverage, such as a major medical policy that provides benefits in the event of a wide range of illnesses or injuries. Rather, specified disease insurance is generally designed to provide supplemental coverage on top of an existing health policy. For this reason, specified disease coverage is often sold as a rider, or special amendment to an existing insurance plan, rather than a stand-alone policy.
Common types of specified disease policies include:
- Cancer
- Critical Illness
- Dental/Vision
- First Diagnosis Cancer
- Fixed Indemnity
- Medicare Supplement
- Preventive Care
- Specified Disease
- Specified Health Event
CANCER INSURANCE IS NOT A SUBSTITUTE FOR COMPREHENSIVE COVERAGE.
Cancer treatment accounts for about 10% of U.S. health expenses. In fact, no single disease accounts for more than a small proportion of the American public’s health care bill. This is why it is essential to have insurance coverage for all conditions, not just cancer.
If you and your family are not protected against catastrophic medical costs, you should consider a major medical policy. These policies pay a large percentage of your covered costs after a deductible is paid either by you or your basic insurance. They often have very high maximums, such as $100,000 to $1,000,000. Major medical policies will cover you for any accident or sickness, including cancer. They cost more than cancer policies because they cover more, but they are generally considered a better buy.