Guarantee Trust Life Insurance Company (GTL) has launched a new cancer insurance policy in collaboration with Translational Genomics Research Institute (TGen).
Dubbed Precision Care, the product provides policyholders a lump-sum amount to pay for both medical as well as non-medical expenses, if diagnosed with cancer.
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It will also cover latest treatment methods, which may not be covered by other insurance.
The policy will give customers access to TGen’s cancer physicians, genomic sequencing tests, and expert oncology consultations.
GTL chairman, president and CEO Richard Holson said: “We are extremely excited about our collaboration with TGen, one of the leading biomedical research institutes in the world, to create innovative insurance policies which pay for genomic testing upon the diagnosis of cancer.
“By leveraging TGen’s world-class research capabilities, we believe we can help craft and pay for more precise plans of care and deliver better outcomes for our policyholders when they are faced with a critical illness such as a cancer diagnosis.”
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By GlobalDataTGen COO and president of TGen Health Ventures Tess Burleson said: “One of the ways that TGen touches lives with its work is through partnerships that have the potential to reach those who need it most.
“GTL’s Precision Care Policy places GTL at the forefront of delivering the power of precision medicine to their policyholders.”
This policy form is approved in over 30 states in the US and will be sold through the independent agents and partners within the country.
