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Cigna launches new cancer cover insurance

Cigna Corporation (NYSE: CI) and ANZ Bank New Zealand Ltd. have entered into an agreement for Cigna to acquire its OnePath Life Insurance business. OnePath is one of New Zealand's leading providers of insurance, owned by ANZ Bank New Zealand Ltd.

Cigna Cancer Cover provides customers with a lump sum payment if they are diagnosed with cancer, providing a financial safety net so that they can focus on their recovery.

Cigna Life Insurance announced today its entry into the cancer insurance market, with the launch of their new Cigna Cancer Cover Insurance, which can be purchased over the phone or online. Cigna Cancer Cover provides a payment of up to $80,000 upon a cancer diagnosis, and is designed to help people on their recovery by relieving financial pressures.

“Our Cigna 360 Well-being Score research* tells us that cancer is the illness that Kiwis are most concerned about across the board. We saw a need for a specific insurance product to support people during a time when their health becomes more of a priority than ever,” says Cigna NZ CEO Lance Walker. “We believe that the reassurance of knowing that you can receive a lump sum payment upon a cancer diagnosis is something many New Zealanders will appreciate. Providing this peace of mind is a key way in which Cigna partners with our customers in their health and well-being journey.”

Cancer is an illness that is likely to touch the lives of most New Zealanders. In fact, New Zealand now has the highest rate of bowel cancer mortality in the OECD.** While cancer rates are high in New Zealand, the good news is that survival rates are improving due in part to early detection and treatment.***

“We wanted to design a product that would complement health insurance policies, which generally cover treatment costs” says Lance. “A cancer diagnosis can be truly shocking for a person and the treatments very hard on them. An additional lump sum payment provides a level of financial freedom, and can be spent on anything they like, for example, assisting with travel costs for visiting friends and family or to take care of any living expenses. Cigna Cancer Cover is there to help take the pressure off financially, allowing people to focus on their recovery.”

Cigna Cancer Cover is easy to understand and simple to purchase compared to more complex and expensive products. The product is not underwritten, which removes the potential of medical records being sought and customers waiting for several weeks to find out if their application has been accepted.

Cigna Cancer Cover ranges from $20,000 to $80,000 with no medical checks or tests required, however as is the case with most insurance policies which are not underwritten, pre-existing conditions aren’t covered.

For more information about policy, pricing details and terms and conditions, go to www.cigna.co.nz

About Cigna New Zealand

Cigna Life Insurance New Zealand Ltd is the place that New Zealanders go for their health, wellness and sense of security solutions. Cigna has had New Zealanders’ backs for nearly a century, and with in-depth local consumer and industry knowledge more than 295,000 New Zealanders are protected with our insurance policies. Our products and services include life, funeral, income protection, trauma, cancer cover, accidental death, travel and bill protection insurance. We also make our products available to partner companies to retail in their own names. Cigna New Zealand is part of Cigna Corporation, a Fortune 500 company and has an A- (Excellent) financial strength rating which was given by A.M Best Company Inc. Visit www.cigna.co.nz for more information and links to follow us on Facebook and Twitter.

About Cigna

Cigna Corporation (NYSE: CI) is a global health service company dedicated to helping people improve their health, well-being and sense of security. All products and services are provided exclusively by or through operating subsidiaries of Cigna Corporation, including Connecticut General Life Insurance Company, Cigna Health and Life Insurance Company, Life Insurance Company of North America and Cigna Life Insurance Company of New York. Such products and services include an integrated suite of health services, such as medical, dental, behavioral health, pharmacy, vision, supplemental benefits, and other related products including group life, accident and disability insurance. Cigna maintains sales capability in 30 countries and jurisdictions, and has more than 88 million customer relationships throughout the world. To learn more about Cigna®, including links to follow us on Facebook or Twitter, visit www.cigna.com

References

*Cigna 360 Wellbeing Survey - an annual index that will continue to identify and monitor the factors, motivations, perceptions and attitudes that impact an individual person’s, as well the region’s, health, wellness and wellbeing. It is an independent study commissioned by Cigna and conducted by Ipsos that initially covers the APAC markets of Hong Kong, China, Thailand, Korea, New Zealand, and the UK. Data is collected online from a representative random sample of 1,000 people in each country, totaling 6,000 people.

**Ref: WHO report: http://www.stuff.co.nz/national/health/63816515/health-how-nz-compares-on-every-measure.html

***Ref: Cancer Society: http://tvnz.co.nz/national-news/nz-cancer-survival-rates-improving-5944901

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