The new insurance product – which covers cancer, heart attacks, strokes, kidney failure, coronary artery bypass grafts and major organ transplants – has been launched in response to the rising costs of such treatment, according to a press release from the company. The amount of coverage depends on the illness and the amount of insurance purchased.
The illness insurance can be used to pay for regular expenses as well as aid in the payment of additional costs associated with the illness, such as deductibles, child care and domestic help, travel, and other needs, according to the company. It can also help pay for specialist treatments in other geographical locations as well as alternative therapies.
MetLife ( www.metlife.com ) is a provider of insurance and other financial services to both retail and institutional clients.