Cancer insurance is a type of supplemental health insurance that provides financial support if you're diagnosed with cancer. It typically helps cover expenses that regular health insurance may not fully pay for, such as deductibles, co-pays, lost income, travel for treatment, or experimental therapies. The policy pays out either a lump sum or specific benefits based on treatments received, depending on the plan. Cancer insurance can ease the financial burden during a difficult time, offering peace of mind and flexibility in managing care.