Best Cancer Insurance

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Why we chose it: Aflac offers low-cost coverage across a variety of cancer care needs, many with no lifetime maximum.

We chose Aflac as the best overall policy because it covered the widest range of benefits without being a lump-sum policy. Aflac’s policy pays for a portion or all of the common costs associated with having cancer. Examples include an initial diagnosis benefit, anesthesia benefit for surgical port placement, chemotherapy benefit, hospital confinement benefit, and a blood/plasma benefit. They also offer a $40 per year disbursement as a cancer wellness benefit, which covers costs related to screenings, such as a colonoscopy. 

Aflac does not set forth a lifetime max for some cancer benefits, which means the policy could prove very valuable should you or a loved one experience a long cancer journey. Many other policies will offer a one-time payout only or limit all payouts. Aflac does not have a lifetime max on reconstructive surgery, nursing services, ambulance benefits, and other benefits. 

While quotes for premiums aren’t available online, Aflac advertises its costs as being “as low as a gallon of milk” per week. 

They also offer several riders or policy add-ons. Examples include an initial diagnosis benefit, a hospital intensive care rider, or a dependent child policy that pays $4,000 when a covered dependent child is diagnosed with cancer. 

Another aspect of Aflac’s cancer policy we liked is it's offered to both individuals and to companies.

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Why we chose it: Online quote tool lets you estimate policy costs and monthly premiums were some of the lowest we reviewed.

Mutual of Omaha offers supplemental cancer insurance with online quotes and the ability to apply for the policy online. For a 40-year old woman, we were quoted a price of $23.53 per month. Both individual and family policies are available through the company. You can also choose to add protections against heart attack and stroke. 

Besides its price, there are several unique aspects to the Mutual of Omaha policy we liked. You can apply even if you have had cancer in the past if you have been cancer-free for five years or haven’t had skin cancer in three years. The company also limits rate changes so if everyone with the policy experiences a rate increase, you won’t experience an individual rate increase. In addition to helping offset costs if a doctor diagnosed you with cancer, the policy also provides $60 on a yearly basis for preventive screening, tests, or vaccines. Examples include a Pap smear, HPV vaccine, or mammogram. In this way, the policy pays you even if you’re never diagnosed with cancer. 

Unfortunately, Mutual of Omaha does not offer its cancer insurance policy in all states. The other drawback to this policy is that Mutual of Omaha breaks out each component of care it covers such as 15% of your hospital room costs or up to $1,400 for chemotherapy, radiotherapy, or immunotherapy. With a list of 14 coverage types, the list can be confusing.

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Why we chose it: United American will pay you a lump sum if you have been diagnosed with cancer and no physical exam is required for coverage.

Some lump-sum cancer insurance policies put stipulations on their payouts, such as that you must be hospitalized or be actively receiving treatment. United American’s policy only requires you to receive a cancer diagnosis as written and certified by a physician to receive a payout. Fewer hoops and requirements to jump through is why we selected United American as best for fast payment. 

United American offers a lump sum benefit in increments of $10,000 up to $50,000. They do not require a physical exam or take into account if your family members have had cancer; they only look at your personal medical history. The coverage is renewable for life or if the one-time benefit is paid. The company has an AM Best rating of A (excellent) for financial strength, which means it has the funds and financial strength to pay out its policies. 

The company operates as United American in 49 states. The company has an affiliate, Globe Life Insurance Company of New York, that offers separate policies. Also, you must contact a United American insurance agent to receive a policy quote; they do not make their monthly rates available online.

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Why we chose it: Physicians Mutual offers two benefit options and several riders that expand the policy to cover many critical illnesses or enhanced benefits.

Physicians Mutual offers a cancer insurance policy that pays for a number of cancer-related costs. They offer two policy types that pay varying degrees for cancer costs, such as inpatient stays, surgery, treatments, and transportation. You can select from these two policies for the base benefits that most fit your budget and goals. 

If you desire, you can also further customize the policy by adding benefit riders of varying amounts. For example, Physicians Mutual has a First Diagnosis benefit rider, which offers a one-time payment of between $2,500 to $10,000 based upon your selection for the first diagnosis of "internal cancer," according to the provider summary sheet. Because cancer costs are usually greatest in the first months after diagnosis, this rider may help when you need it most, according to the Cancer Action Network. These riders are available only to those under age 65. 

They also offer a critical illness benefit rider that can expand your coverage if you have had a heart attack, stroke, or heart bypass surgery. This reduces the need to purchase a separate critical illness policy. The policy also offers some cash benefits as well as some benefits that are paid directly to your provider. If you do receive cash benefits, you may use them as you see fit. 

Physicians Mutual does not offer online quotes so you will need to contact an insurance agent to obtain premium information.

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Why we chose it: Wide variety of benefits for critical illnesses, including cancer. 

UnitedHealthcare offers a critical illness policy that includes cancer coverage as part of its critical illness plan. We liked this policy for individuals because it offers coverage for more critical illnesses than many policies we evaluated and offers a lump-sum cash benefit. 

In terms of cancer coverage, the policy will pay 100% for the base plan. The policy also offers 25% of the lump-sum payment for non-invasive cancers (cancers that haven’t spread), which helps further expand the coverage. 

You can select a coverage amount that ranges from $10,000 to $50,000. Other critical illnesses covered include heart attack, transplant, paralysis, coma, kidney failure, coronary artery bypass graft, and loss of hearing, speech, or vision. Benefits may vary by state, and UnitedHealthcare has a state-by-state brochure available on its critical illness insurance site. 

The main drawback to this policy is that premium quotes aren't available online; you will have to contact a UnitedHealthcare agent to find out a quote. Also, the policy’s benefit payment decreases to 50% of the lump sum after age 65, which makes the policy less valuable at that time.

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Why we chose it: Cigna offers a number of customizable options via its lump-sum policy option, including cancer recurrence and additional help paying for treatments. 

Cigna offers lump-sum cancer insurance with modifiable coverage, including heart attack and stroke insurance. Other additional coverage options include recurrence coverage. This is where you can receive another lump sum should a doctor diagnose you with a different cancer type. Additional riders include a radiation and chemotherapy benefit, specific disease benefit, or a cancer benefit builder where the value of your policy increases over time. You can also purchase individual coverage or opt to extend the policy to you and a partner/spouse, single-parent family, or family. 

While coverage can vary by state and qualifications, the maximum listed benefit is $100,000, and you decide where the money is used. The issue-age ranges from 18 to 99 years old. Once issued (and you continue to pay the monthly premium), Cigna guarantees the policy is renewable for life. They advertise the average monthly cost as $19, but this can vary based on the benefit amount and the number of individuals covered. The policy benefit is reduced by 10% if you are diagnosed within 30 days of the policy’s effective date. 

If you aren’t looking for a lump-sum policy, Cigna also offers a Cancer Treatment Insurance policy, which covers treatment-related costs that include surgeries, medications, radiation, transportation, and rehabilitation. 

Online quotes are available and help you see available policy riders in your state. However, you have to first provide your name, email address, and phone number, so you are sure to hear from the company whether you choose their plan or not. You must purchase the policy through a Cigna agent. Also, the availability of certain riders varies by state, so you will have to search your location to determine what options are available.

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Why we chose it: Apply online and receive a decision in minutes with this company that is upfront about their needed qualifications. 

Breeze provides critical illness insurance for illnesses that include cancer. Their online application provides a quote and instant decision within minutes. To obtain a quote, you must provide a few details, including birthdate, zip code, and whether you are a smoker. You will then receive a quote where you can adjust the amount of desired coverage, ranging from $5,000 to $75,000. Once you do this, you can move forward with the application. You’ll then answer several health history questions, such as if you’ve had a heart attack, stroke, or been diagnosed with cancer within the past five years.   

We were quoted a price of $22.30 per month for a 40-year old woman to receive $25,000 in benefits. To receive $50,000 in benefits, the monthly cost would be $42.43. While the price is more than some cancer insurance policies alone, the policy does cover multiple medical conditions. 

Breeze’s coverage is for critical illness, so it does extend beyond cancer coverage. Covered conditions depend upon your policy choices, but may include heart attack, stroke, organ transplant, and invasive or non-invasive cancers. If you do have a qualifying event, you will receive a lump-sum cash benefit to use at your discretion to pay income from missed work, deductibles, or copayments.  

Breeze does not offer supplemental critical illness insurance in New York state.