Prudential Hong Kong has launched PRUHealth Cancer ReCover, the first insurance solution in Hong Kong specifically designed to provide protection for people who have recovered from cancer or carcinoma-in-situ.
This makes Prudential the first insurer in Hong Kong to provide cancer protection to cancer survivors, giving them the opportunity to obtain cancer coverage again after having been previously diagnosed with this critical disease.
According to the Hong Kong Cancer Registry, the number of new cancer cases hit a record high of 31,468 in 2016, up 33% from a decade ago, and is expected to rise further by around 40% over the next decade.
At the same time, the median age of those diagnosed with the two most common cancers in Hong Kong, lung and colorectal cancer, has declined in recent years, indicating that cancer patients are getting younger. However, the survival rate for cancer has generally improved over the years, with the five-year survival rate for patients with stage 1 breast cancer as high as 97.5%, according to Hong Kong Breast Cancer Foundation.
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Nevertheless, the possibility of cancer recurrence will continue to have an emotional and financial impact on cancer survivors and their families. Studies show that the rate of recurrence for ovarian cancer can be as high as 80%, while a relapse of colorectal cancer happens in approximately 17% of patients.
PRUHealth Cancer ReCover’s Major Cancer Benefit feature provides a lump sum protection of 100% of the sum assured, if the life assured, who has survived stage 1, 2 or 3 cancer or carcinoma-in-situ only once in their lifetime, is unfortunately diagnosed with a new or recurring covered cancer. This protection covers the same organs that were previously affected by cancer or carcinoma-in-situ, offering a completely new level of protection to cancer survivors as well as their loved ones.
Derek Yung, Chief Executive Officer of Prudential, said: “Cancer poses a significant health threat to Hong Kong people, especially the survivors of this critical disease, and the anxiety of being unable to obtain protection against a recurrence after recovering from it is distressing to them and their families.
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“The introduction of the PRUHealth Cancer ReCover not only addresses this protection gap and eases their concerns, but also demonstrates our ‘We DO innovation’ and ‘We DO health’ spirit in delivering groundbreaking solutions to safeguard our customers’ wellbeing across every stage of their health journey.”
For details and features of the plan, visit www.prudential.com.hk for more information.
(Main picture (L-R): Priscilla Ng, Chief Customer & Marketing Officer of Prudential, Derek Yung, CEO of Prudential and Sady Wong, Senior Director, Product Management of Prudential at the launch event of PRUHealth Cancer ReCover.)
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