Cancer can be very bad for your finances. Even if you have the best health insurance in the world, you may still have to pay for things that your insurance won’t cover.  This could mean that you have to use your savings and run out of the money you have worked your whole life to earn. So cancer insurance is a peace-of-mind plan that you hopefully won’t need.  It is a great way to keep your finances safe in case you get a bad diagnosis.