Colorectal cancer is the third most common cancer in men and women. In 2009, The American Cancer Society estimated nearly 50,000 US-resident deaths were caused by rectal or colon cancer. Insurance plans of the standard variety are supposed to provide individuals with financial protection from the potentially heavy costs they might incur in the future. This includes the morbidity and mortality costs of having a dreaded disease.
Standard health insurance plans do not cover morbidity and mortality costs. The benefits can only be used for direct medical costs. According to the National Institutes of Health, the overall cost of cancer treatment is estimated to be over 228.1 billion dollars. Of this number, only 93.2 billion dollars are for direct medical costs. Simple math will uncover the truth: being insured does not guarantee one's financial protection from cancer.
For people who are at risk of suffering from cancer of the rectum or colon, cancer insurance is recommended. As a type of supplemental insurance, cancer insurance can reinforce the financial protection provided by health insurance plans. Policyholders can use their cancer insurance coverage to pay for the hidden costs that underlie cancer costs, such as transportation charges, home care, and childcare incidentals. Cancer insurance benefits can also be used to cover lost income and experimental cancer treatments.
The risk of colorectal cancer increases with age; 91% of cases are diagnosed in individuals aged 50 and older. Many studies have also shown that certain inherited genetic mutations may also increase the risk of certain colorectal cancers.
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