ACE Group has announced the launch of ACE Cancer Care, an insurance product designed to help cover day-to-day living expenses of individuals diagnosed with cancer.

ACE said the product can be tailored to suit the needs of individual employees, with a choice of different cover levels. Employees also have the option to include their spouses or partners in the policy—meaning that both parties can feel reassured that if the worse were to happen they would be supported financially, according to a statement.

Key benefits of ACE Cancer Care include:

  • Provides a cash sum payment and monthly benefit for up to 12 months if an individual is first diagnosed as suffering from cancer while the policy is in force.
  • Additional cash benefits payable if an individual is hospitalized for treatment or surgery relating to cancer.
  • All benefit payments are tax-free and paid directly to an employee’s bank account.
  • Money can be spent as the individual chooses. It can be used for anything from mortgage, rent or household bills to a holiday to recover from illness.
  • Access to Best Doctors, a service that allows individuals to consult leading medical experts all round the world to get their opinion about any diagnosis and the treatment options available.

Employers can cover ACE Cancer Care costs for all their staff through an employer-paid group scheme. Alternatively, the policy may be offered to staff as an employee-paid product, which the employee would pay for through payroll or direct debit. By offering a number of payment options, ACE can adjust to the needs of the client and ensure that the best possible service is provided to both the employer and the employee.

ACE Cancer Care is offered through Workplace Benefits, which specializes in face-to-face meetings with clients and employees, and can be purchased directly from ACE following a meeting with a company representative.