AFLAC Cancer Policy...worth it or not?

amother

OP ↓

Sun, Dec 22 2024, 9:25 pm

Can you all help me?

5 years ago, I feel like I impulsively purchased an AFLAC Cancer insurance policy through work. For the past 5 years I've paid 70 dollars a month for this policy which covers my family, which Chas V'Shalom, Lo Aleinu covers many things related to Cancer.

Now I'm wondering if I should cancel it. I hope I would never need such a policy, but do people do this? Is this my anxiety at work? It pays for many things Cancer related...what do you all think?

amother

↑ OP

Sun, Dec 22 2024, 9:49 pm

BusyBoys wrote:

What happens if you cancel it?
Can you reinstate it at any point?

Yes, but if someone chas vshalom gets a diagnosis, they can't reinstate it. I believe there's a waiting period as well

mommyhood

Sun, Dec 22 2024, 9:49 pm

Like most insurances, it’s worth it if you end up needing it and technically a waste if you don’t. Things to consider are what are your regular health insurance deductibles/copays/out of pocket max. So what would a major medical expense cost without it and is that a risk that makes sense to you that it’s worth spending $70 a month.
Also some insurances like this have something you can do to get money while not sick like going for a physical or filling out forms annually. Is there anything like that available that would give you some of the premium back.