Cancer Insurance Plan

Plan Overview

• Designed as a non-medical plan for individuals aged 18 to 64 years.
• Policy expiry occurs on the anniversary closest to the insured's 75th birthday or after 20 years from the issue date for ages 56-64.
• Maximum living benefit based on age at diagnosis:
  • Ages 18-50: $10 million
  • Ages 51-60: $9 million
  • Ages 61-64: $5 million
• Provides a lump sum payout upon diagnosis of cancer as defined in the policy.

Benefit Proceeds

• Benefit is triggered by the first diagnosis of cancer, provided the insured was not previously diagnosed.
• If no claims are made before expiry and all premiums are paid, the benefit at expiry is the total of all basic premiums.
• Death benefit before expiry: return of all basic premiums paid minus any outstanding debts.

Additional Benefits

• Free Cancer Screening: Available at the Jamaica Cancer Society after the 2nd policy year and every two years thereafter.
• No Claim Bonus: Full premium refund upon the insured's death, given the policy is active and paid.

Policy Conditions

• No accumulation of cash values or surrender value is allowed under the policy.
• Policy ceases if premiums are outstanding for more than 30 days or upon benefit payment.

Suicide Clause

• Limited liability to premium payments if the insured commits suicide within two years from the policy issue or reinstatement.

Definition of Cancer

• Defined as the uncontrolled growth of malignant cells and tissue invasion, including specific types such as leukemia, myeloma, and lymphoma.
• Excludes non-invasive cancers (in situ) and Kaposi’s sarcoma.

Financial Support

• Cash benefits can support various needs:
  • Treatment and recovery costs
  • Major medical procedures
  • Rehabilitation expenses
  • Transportation costs
  • Loss of income
  • Household and living expenses

Eligibility Considerations

• Key questions to determine eligibility include prior treatment or diagnosis of cancer and HIV status.
• Answers of 'YES' to specific questions disqualify applicants from coverage.

This quiz covers a non-medical cancer insurance plan designed for individuals aged 18 to 64. It discusses the issue age, maximum benefits payable upon diagnosis, and policy expiry details. Test your knowledge on the specifics of this cancer plan and its benefits.