Russians increasingly insure themselves against cancer
According to “Moscow News” the demand is growing in Russia for specialized products for insurance against cancer. Until recently, there were few players on the Russian insurance market that offer medical policies covering client’s risks of developing cancer. However, in the last 2-3 years the number of such insurance companies is increasing.
In addition, insurers are expanding their product lines. For example, today you can purchase a policy for insurance against critical illnesses, the list of which includes, in addition to cancer, myocardial infarction, stroke and kidney failure. About 90% of new contracts for life insurance products, including products covering risks of deadly diseases, now include insurance against the diagnosis of cancer; - the “Moscow News” cites data of the Generali PPF agency network in Russia. However, experts warn that payments under such insurance policy are unlikely to cover all the costs of cancer treatment.
Another version of the policy is a specialized insurance product that guarantees adequate payments to the client in the case of diagnosis of cancer. The insurance company undertakes the responsibility for the organization and coordination of treatment and regulates in optimal way financial relations with clinics the client’s interests. Sometimes the sum insured includes transportation of a patient to treatment facility: payment for tickets, visas, travel of accompanying person, a Russian-speaking doctor in foreign clinics, all necessary procedures, medications and surgery.
When a contract for insurance against cancer is concluded one of the main criteria for risk assessment is the potential client’s age. The age limit varies between insurance companies from 18 to 55, sometimes up to 65 years. At the same time at the moment of policy termination the client shall be not older than 65, and in some cases - not older than 80.
People with disabilities, those who have undergone organ transplantation and those who suffer from alcoholism or registered in the psychoneurologic dispensary as well as those, whose medical history includes such serious diseases as stroke, heart attack, cancer or even precancer, will not be eligible for insurance against cancer.
The sums insured vary depending on the company between 750 thousand and 7.5-10 million rubles. In the sum insured is paid to the client in cash, the client has a right not to inform the insurer about his / her expenditures.