Cancer Indemnity Insurance is optional supplemental coverage that may pay fixed benefits if you’re diagnosed with a covered cancer and for certain cancer-related services, depending on the policy’s benefit schedule. Similar to hospital indemnity, benefits are typically paid as set amounts for covered items—such as diagnosis and specific treatments or procedures—and in many cases are paid directly to you to use for medical cost-sharing or day-to-day expenses during treatment. Coverage varies by plan and carrier, and policies may include definitions, benefit limits, exclusions, pre-existing condition rules, and waiting periods.