Get treatment, not cash.
Thursday, 31 January 2013 21:26 Ian Youngman
Forget cash in hand, XN Global insurance will pay for specialist treatment in a top US hospital to boost survival chance.
Instead of paying you money when you have a critical illness, a new insurance pays for specialist treatment in a top US hospital to increase the chance of survival.
London insurance broker Insurance Tailors has launched XN GlobalPreferred Care, critical illness cover concentrating on helping people survive with treatment in the USA.
Most critical illness policies offer a one-off, tax-free, lump sum monetary payment upon diagnosis of a prescribed illness. This payment is designed to help ease any financial pressures that may arise from contracting the illness. Insurers have been adding assistance services to sufferers, but the principle is still cash for illness.
The new product takes a different approach by replacing money with treatment. The aim is to maximise the chance of survival, which is the key to recovery from life threatening illness. Upon diagnosis of a covered critical illness, a policyholder is given a diagnosis verification treatment plan by experts at Harvard Medical School in the USA, reducing the risk of preventable medical errors, and an optimum treatment plan is created. Cover is then provided for travel to, and accommodation in the US for treatment and recovery in a top 1% rated US hospital.
Andrew Boldt of Insurance Tailors explains, “This product is different as it has been designed to optimise the chances of survival and recovery from critical illnesses, including all forms of cancer (other than non-invasive skin cancer and cancer in the presence of HIV). A family of four can be protected for just £90.16 per month”
The diagnosis, travel and treatment are arranged by global patient organization PGH. The insurance is underwritten at Lloyd’s of London.
Andrew Boldt concludes, “ There is a clear case for a better chance of survival and recovery from a critical illness if treated in the USA.While the UK has some fantastic medical facilities, in terms of scale and investment the USA and UK cannot be compared.
The USA offers complete transparency of treatment success. It provides league tables by condition, making it easy to identify the best site for treatment of any condition and therefore the best chance of survival.”
By Ian Youngman