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Miscellaneous Insurance Coverages

Cancer Insurance and Other Specific-Illness Policies

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Cancer insurance and other specific illness policies only provide coverage if you get a specified ailment. They often only duplicate coverage provided by health insurance and/or disability insurance policies.

If people in your immediate family such as parents, grandparents or brothers and sisters, had or have a particular disease for which you can purchase coverage: ask your doctor if you are genetically pre-disposed to the condition. If you are, then your risk is greater than the average person and it may be worth purchasing this insurance.

Otherwise, this coverage is generally not worth the money since it only pays if you get one particular health condition. There is no coverage for any other illness. 

Some states have even banned the sale of individual cancer policies on the grounds that they don't provide enough economic benefit.

If you already have an illness, you won't qualify to purchase a policy insuring that particular condition.

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