Cancer insurance in review: What really counts in ratings like those from Focus Money
10 Apr 2025
4
Minutes
Katrin Straub
CEO at nextsure
A cancer diagnosis is a shock. Aside from health concerns, financial worries quickly come to the forefront, often reaching six-figure amounts. Learn what experts look for in a cancer insurance policy and how you can protect yourself effectively.
The topic in brief and concise terms
A cancer insurance policy provides a lump sum payment upon diagnosis of specified cancers, often starting from 10,000 euros.
The amount of insurance cover should be at least one to two times the gross annual income.
Notice the short waiting periods of often only six months and clear conditions for over two hundred insured cancer types.
Understanding the financial burden of cancer
Cancer often incurs high costs. These can quickly exceed the benefits provided by statutory health insurance by thousands of euros.
Alternative healing methods or household help can lead to additional expenses. These often amount to four figures per month.
Loss of earnings can reduce household income by up to thirty percent. Cancer insurance can offer financial security in this situation.
Many underestimate the incidental costs, which can quickly amount to twenty percent of the total costs. Closing this gap is the aim of good insurance coverage.
The right insurance helps focus fully on recovery, without financial worries. This is an important step towards overcoming the illness.
Scope of a cancer insurance: What is covered?
A cancer insurance policy provides a lump sum payment upon diagnosis. The exact terms vary significantly, often covering over two hundred types of cancer.
Coverage for early stages (carcinoma in situ) is important. Some policies already offer fifty percent of the sum here, similar to a dread disease insurance.
The insurance sum is freely selectable. Typical amounts range between 25,000 and 150,000 euros for comprehensive coverage.
Some policies offer additional assistance services. Typical additional services can include:
Initial psychological counseling for affected persons and relatives, often up to five sessions.
Arrangement of a second opinion with a specialist within fourteen days.
Support in finding rehabilitation measures, which can shorten recovery time by up to three weeks.
Immediate child assistance of up to 5,000 euros in case of diagnosis of an insured child under eighteen.
Be aware of the exclusion of skin cancers except for malignant melanoma. This is a common pitfall in up to fifteen percent of policies.
A thorough review of the insured medical conditions is therefore essential for optimal protection. This ensures the policy is effective in an emergency.
Selection Criteria: What Focus Money considers for a Getsurance cancer insurance
Financial magazines like Focus Money evaluate cancer insurance based on transparent criteria. Policies with fair conditions receive good ratings, often scoring between one point zero and two point five.
An important criterion is the waiting period. Usually, this is six months from the start of the contract; shorter periods are an advantage.
The health assessment significantly influences the premium. Honest answers are crucial here to avoid jeopardizing coverage; incorrect information can lead to benefit denial in over ninety percent of cases.
Premium stability is another factor. Some providers guarantee premiums for five or ten years.
Expert Tip: Check the regulations on dynamics. An annual adjustment of the insurance sum by, for example, five percent can ensure inflation compensation and is a feature of the best cancer insurance.
These criteria help you identify solid coverage. This allows you to make an informed decision for your financial security.
Practical examples: How cancer insurance can help
Imagine Max M., 45 years old, receives a cancer diagnosis. His cancer insurance pays him €75,000.
With this money, he can pay for special therapies. These often cost an additional €15,000 and supplement the financial aid for cancer provided by insurance companies.
He also bridges his income loss of around €1,200 monthly. This secures his family financially for over two years.
Another example: Anna K., 35 years old, uses €10,000 of her insurance payout. She funds a housekeeper during her six-month chemotherapy.
These examples demonstrate the flexibility of the one-time capital payment. It can be used individually wherever it is most urgently needed, often within four weeks of diagnosis.
The financial freedom allows a focus on recovery. This is an invaluable advantage in a difficult time.
Expert Depth: Legal Aspects and Current Judgments
The Insurance Contract Act (VVG) forms the legal framework. Paragraph 19 VVG regulates the disclosure obligation of the policyholder before concluding a contract.
Recent judgments often emphasize the importance of clear wording. The Higher Regional Court of Saarbrücken (Case No. 5 U 27/18) strengthened the rights of insured persons regarding unclear clauses on waiting periods.
Some insurers use very strict definitions for covered cancer types. It is worth examining the conditions closely to avoid coverage gaps of up to thirty percent of diagnoses, especially if you wish to take out cancer insurance retrospectively.
Our expert tip: Document your health information carefully. This can be very important in future claims and can reduce the processing time by up to four weeks.
A cancer insurance without health questions is rare. It often comes with higher premiums of up to fifty percent.
Being aware of these details helps to avoid pitfalls. This is how you can optimize your insurance cover.
Step by step to the right cancer insurance
The journey to the right cancer insurance requires a systematic approach. Start with an honest needs analysis: What are your monthly fixed costs? This analysis often takes only thirty minutes.
The following steps will assist you in making a choice:
Determine the necessary insurance amount (at least one to two years' gross income).
Compare at least three different offers and their conditions.
Pay attention to the definitions of insured cancer diseases; differences can affect up to twenty conditions.
Check the waiting periods - ideally no longer than six months.
Answer the health questions completely and truthfully; this avoids issues in up to ninety-five percent of claims.
Learn about options for premium exemption or termination options.
Take your time for comparison. An independent advisor can offer valuable support here and help save up to twenty percent on premiums.
Careful selection ensures you receive necessary financial support in the event of an emergency. This is an important step in precaution.
Understanding the role of financial magazines like Focus Money
Financial magazines like Focus Money regularly test insurance products. These tests offer an initial orientation in the complex market with over fifty providers.
The test results are based on established criteria. These include price-performance ratio, conditions, and service, often weighted at forty, forty and twenty per cent.
It is important to understand the methodology of the tests. Not every test winner is suitable; personal needs can differ by up to thirty per cent, especially with waiting periods for cancer insurance.
Use such comparisons as a starting point. Individual advice, tailored to your specific life situation, is essential and can optimise coverage by up to twenty-five per cent.
Pay attention to the test date. Conditions and rates can change; tests older than two years are often no longer up to date.
This is how you can use test results optimally for your decision. You will find a good Getsurance cancer insurance that meets Focus Money’s criteria.
nextsure: Your partner for tailored protection
More useful links
Wikipedia provides information on cancer insurance in Germany.
Cancer Information Service offers cancer statistics and research data.
Federal Statistical Office (Destatis) provides tables on healthcare costs in Germany, broken down by diagnosis, including cancer.
German Insurers Association (GDV) provides information on dread disease insurance.
Consumer Advice Centre offers consumer advice on dread disease insurance as an alternative to disability insurance.
Federal Ministry of Health provides information on the National Cancer Plan.
Scientific Institute of the Private Health Insurance (WIP) publishes a press release on access to new cancer medications in the German healthcare system.
Cancer Information Service provides resources and statistics on cancer for professionals.
FAQ
Is cancer insurance worthwhile?
Yes, it can be very useful to cover financial shortfalls due to high treatment costs, loss of earnings, or additional expenses. It provides financial freedom during a difficult time, often with amounts up to €150,000.
What amount should I choose for a cancer insurance policy?
Experts often recommend one to two times the annual gross income. The amount should cover your individual financial commitments and potential costs of, for example, €20,000 for additional treatments.
Is there a waiting period for cancer insurance?
Yes, most policies have a waiting period, typically six months. This means the insurance coverage only applies after this period has elapsed from the start date of the contract.
What happens to the benefits from the cancer insurance?
The insurance sum is paid out as a lump sum, often within four weeks. You can use the money freely, for example for therapies, renovations, or covering ongoing expenses.
Are all types of cancer covered?
Most cancer insurance policies cover a wide range of cancers, often over two hundred types. However, there are differences and potential exclusions (e.g., certain types of skin cancer) that you should review.
Does cancer insurance replace disability insurance?
No, cancer insurance is a supplement, not an alternative to disability insurance. It provides a lump sum payment upon diagnosis, whereas disability insurance pays a monthly pension in the event of disability, which often only applies after six months.
