Cancer insurance the last taboo

Tue, 05 Feb 2008

According to recent health insurance reports, cancer insurance is the last taboo for many health insurance companies . Insuring against specific illnesses, a BBC article claims, is more common in America than here.

The article stated that the health insurance industry is worth approximately £3.2 billion per annum, and the trend to insure against specific illnesses, including cancer, is catching on here.

The article quoted an expert, Jason Wyer-Smith of Virgin Money, who commented on the cancer insurance that Virgin offers: "Critical illness insurance has always been very expensive and sales were declining. This is a low cost alternative. Cancer accounts for 65% of critical illness claims ."

The amount of payout on this type of medical insurance policy depends on the severity of the cancer.
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