If you’d like to protect your financial life and/or be able to access more treatment options in times of need, there are ways that insurance can help. Here are some key things to know, and as always, we’re here for any questions you may have.
According to the Ministry of Health, most of us in New Zealand will have some experience of cancer throughout life, whether personally or through someone we know. And, unfortunately, nearly 25,000 people in New Zealand are diagnosed with cancer each year.
But there’s a bright side: the Ministry of Health also says that one in three Kiwis with cancer is cured, and many cancers can be cured with timely detection and treatment (which is where health insurance can make all the difference).
When you think of insurance, what comes to your mind? A key benefit of having insurance is that it provides financial support for unexpected situations.
Importantly, having cover for cancer may allow you, to a degree, to not worry too much about money and be able to focus on your health. It lends support for your rest and recovery, bringing some peace of mind when you, and your loved ones, might need it most.
Depending on your unique financial needs, here are the key options to consider:
When it comes to the public healthcare system, the waiting lists for diagnosis and treatment can sometimes be quite long. Plus, some non-Pharmac funded medications (approved by MedSafe, but not publicly funded yet) can be either difficult to access, or unaffordable.
Health insurance is designed to help you fast-track your access to private healthcare, including treatments and diagnostics. And depending on the policy you select, you can also get cover for non-Pharmac funded medications, such as life-extending cancer treatments.
A powerful cover, trauma insurance can minimise the financial impact of a serious illness. It’s designed t pay out a lump sum if you’re diagnosed with any of 40+ serious illnesses stated in your policy, which usually include many forms of cancer, heart attacks and strokes.
One key benefit of trauma insurance is that you can use the tax-free lump-sum amount for anything, like medical costs, making up for lost income, paying down your mortgage, etc.
Are you a cancer survivor? If you or someone you know were diagnosed with cancer before, and you’d like to explore your insurance options, get in touch.
While there are many factors to consider here, some cover could be possible. In general, the longer you’ve been in remission, the more options you may have.
Get in touch – whether you’re looking at protecting your financial future from cancer, or you’ve had cancer in the past and would like to know more about your options, we are here to help you.
Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current development or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.
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