Nancy Maloy, Senior Vice President, Market Initiatives, for Combined Insurance said that while survival rates have increased due to early diagnosis and improvements in cancer treatments, the costs of those treatments can have a significant financial impact on those diagnosed with the disease.
"Over the years, I have seen the physical, emotional, and financial impact on a family that comes with the fight against cancer." said Maloy. "We want to remind consumers that purchasing the right supplemental insurance plan can help cover out-of-pocket costs and provide peace of mind when they need it most."
Major medical insurance helps to cover some of the costs of cancer treatment, but on top of paying for medicine and doctor visits, patients still have to pay for their regular living expenses—such as mortgage, car payments, etc. These costs are not covered by typical major medical insurance, and many people lack cancer insurance coverage that can help pay for the non-medical costs.
"With hundreds of women and families impacted by this disease in our own communities, it is important to review your protection—especially during this month when breast cancer is top of mind." she said.
Features and benefits to look for when considering purchasing a cancer insurance policy include:
- An insurance company with an established history, financial stability, and a high rating by insurance industry rating organizations
- A flexible plan that can be tailored to the needs of an individual or family
- A plan with guaranteed renewability for the principal insured's lifetime
- A plan that provides for benefit payments to be made directly to the insured or insured's designee
- No reduction in benefits, regardless of the insured's age or number of claims previously paid
Founded in 1922 by W. Clement Stone, Combined Insurance has had a tradition of success in the insurance industry of more than 90 years. In addition to the company's A+ rating by the Better Business Bureau, it has an A+ (Superior) financial strength rating by A.M. Best, one of the world's top insurance rating firms. The company has also been recognized for six consecutive years as a leading provider of supplemental insurance on Ward's 50 Top Performing Health-Life Insurance Companies list.
About Combined Insurance
Combined Insurance Company of America (Chicago, IL) is a leading provider of individual supplemental accident, disability, health and life insurance products and a Chubb company. With a tradition of more than 90 years of success, Combined Insurance is one of Ward's Top 50® Performing Life-Health Insurance Companies and was named the number one Military Friendly® Employer by G.I. Jobs magazine in 2015 and 2016. Combined Insurance is committed to making the world of supplemental insurance easy to understand. For more information about Combined Insurance products, career opportunities or to contact a local sales agent, call 1-800-490-1322 or visit www.combinedinsurance.com.
Chubb is the world's largest publicly traded property and casualty insurance company. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: chubb.com.
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SOURCE Combined Insurance