Whats the difference between critical illness and cancer insurance and should I drop my existing cancer coverage?
A. Typically, cancer insurance policies cover only cancer and are reimbursement plans rather than paying a lump sum benefit. In addition, critical illness plans cover many conditions, including cancer. Critical illness benefits may also be used to pay for non-medical expenses, as well as medical treatment that may not be covered by your existing cancer plan and or health insurance. However, some cancer policies may cover more “types” of cancer and, therefore, a careful comparison should be made before you consider dropping any existing cancer coverage.
