Traditional cancer insurance policies will cover a wide range of benefits for covered individuals diagnosed with cancer. From hospital stays and deductibles to specialists and transportation, this type of policy can cover many of the necessary expenses related to cancer treatment. Generally, the payouts for this policy will offer larger amounts for treatments like chemotherapy but a much smaller allowance for transportation to specialists or lodging.
Traditional policies can be broken down into two separate plan types: expense-incurred and indemnity policy plans. Expense-incurred plans pay out a percentage of treatment costs, and they are limited to certain amounts depending on the policy. Indemnity policies pay a specified, or fixed, amount for each individual benefit listed in your individual policy.