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March 25, 2015updated 13 Apr 2017 8:31am

Friends Life extends its group cancer cover policy

Friends Life is extending its group cancer cover to companies with 50 employees or more.

By Ronan Mccaughey

Friends Life is extending its group cancer cover to companies with 50 employees or more.

When the benefit was launched in January 2015, a minimum of 100 employees were needed for a business to qualify for the cover.

However, the provider said after receiving a large amount of positive feedback from the market, it has decided to extend the policy.Anna Spender, head of group protection proposition at Friends Life, said: "We were getting requests for quotes from smaller businesses and weren’t able to fulfil those requests. It became clear very quickly this is a benefit that SMEs are really interested in and I’m pleased that we’ve been able to react so quickly."

Group Cancer Cover was the first employer funded cancer-specific workplace benefit in the UK, according to Friends Life.

The benefit will pay a fixed amount of £25,000 ($37,223) to employees who are diagnosed with a cancer covered by the plan.

Policy definitions, however, apply and not all cancers are covered by the policy.

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