Liberty launches groundbreaking cancer cover to ease the burden of recurrent and terminal cancer
Millions of people around the world are affected by breast and prostate cancers, the number of new cancer cases continues to increase at an alarming rate.
According to 2022 research by the South African National Cancer Registry (NCR), one in eight women and one in six men will be diagnosed with cancer in their lifetime.
Insurer Liberty has seen the toll cancer takes on its clients, with cancer accounting for 32.3% of all critical illness claims in 2023, and similar insights in years prior.
Surviving cancer brings immense relief but for many, the fear of recurrence lingers. This fear, combined with the financial uncertainty that often accompanies treatment for recurrent or advanced cancer, can be overwhelming.
Traditional policies may not provide adequate coverage for this challenging journey.
In response to these needs, Liberty has introduced the Cancer Claims Booster, a market first, which is part of the enhanced flagship Lifestyle Protector cover.
This new offering goes beyond standard coverage, providing critical financial support when clients face cancer progression, recurrence, or terminal stages.
Unlike traditional policies, which typically pay out after the initial diagnosis, Liberty’s Cancer Claims Booster offers an additional 25% payout for stage three or four cancers that progress or recur despite treatment.
This helps ease the financial strain that often accompanies prolonged treatment or, tragically, a life expectancy of 12 months or less where palliative care may be needed.
Liberty’s Chief Specialist of Lifestyle Protector, Kresantha Pillay explains, “Cancer is never a predictable journey.
With this Cancer Claims Booster, we are ensuring that clients who need additional financial support during advanced stages of cancer aren’t left without resources when they need it most.”
In addition to this Liberty has also introduced a Critical Illness Booster, which pays out an extra 25% to 100% for certain long-term conditions that require ongoing support.
This includes conditions like heart transplants, where clients may need lifelong anti-rejection medication, or limb loss, which often requires extended physical and mental rehabilitation.
“We look to client needs and develop solutions, accordingly, ensuring that Lifestyle Protector is always relevant and evolving to our client’s needs.”
“Critical illnesses like these can leave lasting effects on clients’ lives, including long term financial burdens. This cover can help to alleviate some of the burden,” says Pillay.
Support for early cancer and mild illness
Liberty has also enhanced the Living Lifestyle benefit – Extended Option to include Early Cancer and Mild Illness Cover, providing financial support for less severe conditions that still require attention.
For example, the policy pays out 10% of the Living Lifestyle sum assured for treatments like the removal of pre-malignant lesions or brief hospitalisation for conditions such as Guillain-Barre Syndrome.
Loading ...
