AIA New Zealand has recently announced an enhancement to its Cancer Treatment Benefit product.
With effect from 19 February, the insurer’s Cancer Treatment Benefit will now extend to covering the cost of cancer surgery in a private hospital.
Labelled an ‘industry first’, a company spokesperson said this enhancement was initiated to reflect feedback from advisers that the benefit needed to provide their clients with a ‘real world,’ complete alternative to getting cancer diagnosed and treated in the public system.
…the benefit needed to provide their clients with a ‘real world,’ complete alternative to getting cancer diagnosed and treated in the public system.
Launched in March 2017 for AIA’s REAL Trauma policy holders, the Cancer Treatment Benefit provides non-surgical cover up to $500,000 per year for specialist consultations and tests for the diagnosis of cancer.
Access to this benefit was extended to AIA REAL Life and TPD policies in August last year (minimum sum insured $300,000), prior to the broadening of the scope of the benefit in this current upgrade.
Positioned as an industry paradigm shift, the insurer stated its Cancer Treatment Benefit provides clients access to the latest cancer medicines – regardless of whether those medicines are covered by Pharmac, and regardless of whether the client meets Pharmac’s often very high qualifying thresholds. “The end result of that is essentially no waiting lists, minimum stress, and access to the best therapies available,” noted the spokesperson.