This product is underwritten by Medico® Insurance Company, a Wellabe company.
A cancer diagnosis is scary enough — not to mention the cost of cancer care. Wellabe offers supplemental cancer insurance because we care about being with you during the big and little moments — to make sure you’re well protected, well prepared, and well loved.
When you hear, “First Diagnosis Cancer insurance,” you automatically think it is meant to cover medical expenses. It does, but it also covers the indirect costs tied to a cancer diagnosis.
Our First Diagnosis Cancer insurance lump-sum payment allows you to choose when and where to spend the money to cover a wide-range of expenses.
About 40% of adult Americans will develop cancer during their lifetime. The good news is cancer screening and medical technology have greatly improved in recent years. However, with more advanced technology comes higher costs.
First Diagnosis Cancer insurance is a form of supplemental health insurance that can be coupled with other insurance during the retirement planning process, and it’s something you’d enroll in prior to diagnosis just in case you may later need the support. You may especially want to consider getting First Diagnosis Cancer insurance coverage if you:
Our First Diagnosis Cancer insurance is for anyone 18–79 years old. It has no policy or application fee, and its cash benefit can be purchased in increments of $5,000 between $10,000 to $25,000. When you sign up, you choose the benefit amount that you will be paid directly if you receive a qualifying diagnosis. Plus, you’ll receive:
At an additional cost, we offer an inflation protection benefit that automatically increases the cash benefit amount by 5% of the original amount each year for the life of the policy.
When you purchase a Wellabe First Diagnosis Cancer plan, you choose the benefit amount, and that is what you are paid when a qualifying diagnosis occurs. From there, you can use the funds on any direct or indirect costs related to cancer treatment. That can include experimental treatments, lost income due to working less, mortgage or rent, travel during treatment, in-home care, and more.
Medicare does not cover 100% of the cost of cancer treatments. Part A covers inpatient hospital stays, care in a skilled nursing facility, hospice care, and some home health care. Part B covers certain doctors' services, outpatient care, medical supplies, and preventive services. Since most outpatient chemotherapy treatments are covered under Part B, you'll be responsible to pay 20% coinsurance for all services and treatments.
Wellabe’s First Diagnosis Cancer insurance lump-sum payment allows you to cover a wide range of expenses, including deductibles and copays.
This is a very personal decision. The first step is to learn your individual risk factors for getting cancer, such as family history. If your risk is high, look at what your health insurance plan covers for both in-hospital cancer care and outpatient care. Many cancer treatments, such as chemotherapy and radiation, are administered on an outpatient basis. If you decide First Diagnosis Cancer insurance is right for you, you may speak with a Wellabe agent at 877-257-2663 to discuss what level of coverage makes sense for your situation or you can request a free quote.
When you become a Wellabe policyholder, you’ll have access to resources that make it easy to make the most of your plan, including our mobile app, customer portal, and Customer Success team via email or phone. Visit the Customer Resources page to learn more.
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