AIG Europe has launched a new “WellWoman” policy aimed at providing practical and affordable insurance for women against female cancers.
Latest research indicates that one in 10 women will face the trauma of some form of female cancer. Given this stark reality, AIG Europe aims to offer policyholders practical assistance and immediate payment upon diagnosis.
This is the first time AIG has entered the healthcare market. Previously the company concentrated on personal accident policies.
For £3 a month, the WellWoman plan provides an immediate £6,000 payment on diagnosis, as well as £500 per month in benefits for up to a year. Should surgery or a hospital stay be necessary then additional benefits kick in.
WellWoman offers cover for seven female-specific cancers. There are no hereditary exclusions and no need for a medical to obtain cover. There is also a free 24-hour counselling and information service provided for all WellWoman policyholders.
AIG Europe’s vice president of marketing, Edward Owen said: “If diagnosed early enough, many cancers can be treated successfully. However, the months following diagnosis are a stressful time when the financial worries should not add to the emotional burden of hospital tests and treatment. “
He added: “We feel that many employers will want to make this product available to employees.”
The insurance company is also making a donation to both cancer research and charity for every policy sold.