Policyholders must thank
), as the insurance provider has introduced a new Cancer Care
plan in New York to help them cope with the rising cancer
As per The American Cancer Society, New York might encounter
108,760 more cases of cancer in 2013. Treatment of cancer is an
expensive affair and Aflac Real Cost Calculator projects that
some cancer treatments can cost as much as $10,000 per month.
Aflac's Cancer Plan thus focuses on assisting policyholders to
bear the treatment costs. Policyholders diagnosed with cancer,
including melanoma and certain blood disorders, are entitled to
receive cash benefits Aflac.
The Cancer Care Policy is tailored to cater to policyholders'
personal and medical expense requirements. The plan comprises
initial diagnosis benefit, wellness benefit, one age band
benefit, medical imaging with diagnosis benefit and topical
Under the initial diagnosis benefit, each patient will get cash
benefit up to $6000 and this amount is doubled per covered child.
Additionally, the new plan will have wellness benefit, and
medical imaging and diagnosis benefit ranging from $100- $200 per
year and chemotherapy benefit of $200 per month.
On top of the benefits received from the base plan, additional
and optional premiums will offer policyholders with extra
The Cancer Care base plan also provides benefits for radiation
therapy, experimental treatment, bone marrow transplants, and
The company has been working toward enhancing its product
portfolio. Recently it introduced an enhanced group short-term
disability insurance product to protect employees from losses due
to short-term disability. The new product features increased
disability benefits, optional benefits for pre-existing
conditions, and optional limited benefits for mental illness and
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During the first quarter of 2013, revenues of Aflac declined 5%
year over year to $6.2 billion. We expect the new policies to
help the company gain more customers and thus improve revenues
Aflac currently carries a Zacks Rank #3 (Hold). Among other
), carrying a Zacks Rank #1 (Strong Buy), and
Employers Holdings, Inc.
StanCorp Financial Group Inc.
), carrying a Zacks Rank #2 (Buy), are worth considering.