Cancer insurance has gained popularity due to the more restrictive nature of managed care networks. Cancer policies pay specified benefits to reimburse expenses incurred in the treatment of cancer and, with some products, other major illnesses.
These policies pay benefits directly to the insured as expenses are incurred. They do not typically coordinate with group health insurance coverage, providing a supplement to help offset higher deductibles, out-of-pocket limits, and out-of-network expenses. Coverage is also available for the spouse and/or child(ren).