Lloyd's broker Ropner Insurance Services has launched a cancer only cover for employers.
This policy covers selected cancers specified gender only cancers as well as colon/rectum cancer and bladder cancer for both men and women.
The policy has a fixed sum insured of £25,000 which is payable 30 days after diagnosis or survival of the insured person.
The intention is that as an employee benefit, the employee can use the cash as they wish, whether for private medical treatment or to meet the costs of a fall in income that may occur following diagnosis, the firm said.
The annual cost in premiums for both men and women aged under 25 is £9.34 and rises to £280.93 for those between 60 and 64, reflecting the higher incidence rate.
The minimum number of staff for each policy is set at 25 to cater for much of the SME sector as well as larger employers.
This product is also designed to "plug-the-gap" where cover has previously been too expensive for companies to provide and the firm hopes "it will go some way towards the company engaging with its employees in a more meaningful way."
This is the second specific cancer cover launched in the UK after Friends Life launched their cancer cover employee benefit in January 2015.
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