Which type of coverage would best help Dean with high out-of-pocket costs for his cancer treatments?

Specified Disease Insurance is designed to provide coverage for specific critical illnesses, such as cancer, heart disease, and stroke. This type of insurance typically pays a lump sum benefit directly to the insured upon diagnosis of a covered condition, which in Dean's case would be crucial for offsetting high out-of-pocket expenses associated with cancer treatments.

The payments from specified disease insurance can be used at the policyholder's discretion, allowing for flexibility in addressing the costs of medical treatments, co-pays, deductibles, and other related expenses. This coverage is tailored to provide financial support specifically for serious illnesses, making it particularly valuable for individuals facing significant health challenges like cancer.

Other types of insurance mentioned may not provide the same targeted financial assistance for cancer-related costs. For example, disability income insurance would replace a portion of lost income but may not directly address medical expenses. Medicare provides health coverage but can still involve out-of-pocket costs, including premiums, deductibles, and coinsurance, which might not be fully covered. Credit disability insurance is aimed at covering loan payments during periods of disability, rather than directly assisting with medical treatment costs. Thus, for Dean, specified disease insurance is the most suitable option.