The importance of cancer insurance
Royal London show record pay outs in 2023
The importance of cancer insurance
Royal London paid out a record £732 million in protection claims in 2023, with over £114 million of these claims relating to cancer. Read more about this in cover magazine.
These figures only go to show how important cancer insurance is in the current climate. With 1 in 2 people born after 1960 in the UK likely to receive a cancer diagnosis, it is more important than ever to make sure you are giving your employees the opportunity to be covered against this ever-present disease.
At My Health Xtras we pride ourselves in the simplicity of our Cancer Insurance. Upon initial diagnosis, 20% of the insured amount is paid out as cash, so the claimant can use it for whatever they wish. This could be to fund experimental treatment or alternative drugs, or even to go on a holiday – it is completely their choice.
Upon that diagnosis becoming terminal, the remaining 80% of the insured amount is paid out, again as cash, to be used as they wish. If there is only one diagnosis, and it is terminal, the policy will pay out 100% at that point.
We offer our Cancer Insurance on both a voluntary and company paid basis giving as much flexibility as possible when choosing to offer this benefit to your workforce. Starting from 57p per week on a company paid basis, and £1.14 per week on a voluntary basis, get in touch to discuss the best way to support your workforce.
Our company paid insurance schemes
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