ICEA Lion Group has launched Kenya’s first stand-alone cover for cancer that will cater to the financial needs of patients from diagnosis, treatment, surgery to palliative care and relapse.
George Nyakundi, the GM ICEA Lion Group, said the product provides solutions to the complex issues that face the market.
“We looked at the current situation in the country, how Cancer has affected families, leaving them destitute and in dire financial need. We noticed that despite there being other interventions in society to support cancer patients, there still exists a need for more financial support,” said George Nyakundi.
“In view of this, we decided to design a product that enables cancer patients and families to access financial support in the form of cash payouts when they need it most. We will continue to design and develop insurance products that solve the needs of our customers and Kenyans at large,” he added.
The ICEA LION Cancer Insurance policy is available to potential customers between the ages of 18 and 59 and expires when the client attains 65 years.
The premiums payable depends on the age of the applicant, gender, policy term, lifestyle (if smoker or non-smoker) and health status.
It comes with an assured sum of between KSh1 million and KSh15 million depending on premiums contributed.
“If at the terminal end the disease the insured cannot fend for themselves, we will pay the balance of any unclaimed balance up to 100 per cent,” he said.